Bad credit business loans

Restaurant loans are not difficult to obtain. If you have a business that is open and generating revenue, you are a candidate for funding. If you accept credit cards and process at least $1,000 a month you can choose to use a Merchant Cash Advance.

If you do not accept credit cards as a form of payment or you do not accept enough in credit cards to get the amount you are looking for, there is an alternative. The alternative is a program known as a Merchant Cash Flow Loan. The terms are based on your gross sales. Rather than withhold a percentage of each card transaction like what would happen in an advance, a fixed amount is debited from your business bank account either on a daily or weekly basis.

Entrepreneurs are some of the most ambitious, adventurous people in our society. Without the people willing take a risk our society would not be where it is today. That is why we believe in offering support where it is needed. 


Restaurant Loans

The terms on Merchant Cash Flow Loans vary but they are especially attractive for restaurants. There are repayment periods of six months, eight months, nine months, twelve months, eighteen months, and twenty four months. You can choose the option that is best for you.

A restaurant is a broad term but we mean it to include Quick-Service Restaurants and Full-Service Restaurants. Essentially if you are in the food service business, you qualify.


A Merchant Cash Advance is not a loan but is another option you may want to consider. There are no fixed terms for repayment. Instead, the pace at which the program is completed completely depends on the speed of which you generate credit and debit card sales. Most small businesses complete the program in about ten months but if takes three years, there is no penalty.

There are companies that advertise funding up to fiver hundred thousand dollars but you are only eligible for an amount equal to one hundred and twenty five percent of your monthly credit card revenue. Debit card sales are included but EBT and gift cards probably are not.


Loan for Restaurants

So we say we love restaurants and we do but hair salons, auto repair shops, convenience stores, clothing stores, and any other type of retail business can obtain funding. Restaurants just happen to be the most popular. This is probably because the founder of the Merchant Cash Advance Industry is a former restaurant owner himself. More than thirty percent of all small businesses that use Merchant Cash Advance or Merchant Cash Flow Loans are restaurants.


 

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