It takes equipment, inventory and sufficient staff to help a restaurant serve up a rewarding experience for its patrons, all of which require capital. Yet in this economic environment, it can be tough for a small business to secure financing for their restaurant or bar. If you’re a small business or restaurant that would like financing, LoanLynx might be the right place to get the working capital you need to grow.
If your restaurant has been open at least 1 year with $100,000 in revenue, you may qualify for a 3-24 month restaurant loan. This loan can help you easily replace a worn or outdated oven, purchase additional supplies, hire more staff or even update your space.
These are not merchant cash advances based on your credit sales– they are true business loans, with a fixed rate and fixed payback. It’s important to ensure your expenses, including loans, are matched to the revenue they’re meant to generate. Otherwise, you might find yourself paying for this year’s inventory next year. Short-term restaurant loans are ideal for this purpose.
LoanLynx has helped facilitate a multitude of business loans for small businesses across the nation, and restaurants are a core driver of our business. Call or apply online today to see for yourself why so many restaurants choose LoanLynx for their financing needs.