Restaurant Loans
Here are some of the lending opportunities for Restaurants. Start up restaurants are a challenge to finance in most cases you need to do this with own cash or private loans. We have a lender that specializes in restaurants so we can work with this industry. SBA loans has become so complicated to get approved that we only use this route if we have no other option. Hopefully in the future they will again loosen their requirements so more business can qualify.We offer direct, hard, and SBA loan options. Always send in your request we have many ways in which to fund your loan. Yet another option is your liquidity to qualify for funding.Restaurants with 2+ locations (multi units), 2 years in business, requires liquidity as a security on the loan. Rates as low as 10-11.50% and terms up to 10 yearsRestaurants open a minimum of 4 years with $1.5 million in annual sales for an unsecured short termLoan Rates starting at 12.50%, No tax returns for loans < $125kRestaurants open a minimum of 1 month with $12k in monthly sales Short terms available with no prepayment penaltiesCredit lines available for unexpected emergencies Set up a credit line today, NO COSTCredit scores down to 500Must be current on home mortgageDue to the changing financial markets the requirements for qualifying for a loan seems to be changing daily. If you think you will need a loan in the future it is prudent to start your search now rather than later. We can offer plans today that will not be offered next month. Loans and the availability of cash is becoming harder to find. With proper planning you will have a solid business that will outlast this recession. Ken Garratt writes for when Banks say, "NO" give us a call.
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