Our Flexible Finance Option What Can We Offer You?
If you’ve been turned away by the bank in the past, or you’re concerned that your business won’t qualify for a bank loan, we offer an alternative funding solution which is fast, flexible and cost-effective.
With our Business Loan your restaurant can access between £1,000 – £500,000 in unsecured business funding, within just 24 hours. You don’t need to provide a business plan or valuable assets to be accepted and there are no fixed repayment amounts or periods. Pay back simply, using an agreed percentage of the loan.
Funding your restaurant has never been simpler.
Overview of Restaurant Business Loans
Restaurant business loans are crafted to aid in the growth and success of various dining establishments, including bistros, takeaways, fine dining, and fast-food restaurants. They offer a lump sum payment that is repayable in monthly installments, including interest, providing flexibility in how the funds are used within the business.
The Importance of Competitive Edge
The UK restaurant industry, now worth over £39 billion, has shown significant growth. The average household spends about £19 a week at restaurants and cafes, despite the decline of high street shops. This growth presents a unique opportunity for restaurant owners to carve out a niche in this booming market.
Utilization of Restaurant Business Loans
Enhancing the Restaurant Experience
Funds can be used for:
- Purchasing new kitchen equipment
- Refurbishing and expanding premises
- Buying stock in bulk
- Overhauling the restaurant’s interior
- Emergency repairs and covering quiet periods
Qualifying for a Restaurant Business Loan
Eligibility criteria vary by loan type but typically include:
- Minimum of three months in operation
- Registered as a UK business (limited company, LLP, or sole trader)
- Possessing a UK bank account
- Annual turnover of at least £10,000 for unsecured loans
Q: What factors should I consider when choosing a type of restaurant business loan? A: Assess your restaurant’s financial needs, risk tolerance, and repayment capability. Choose between secured, unsecured loans, merchant cash advances, or invoice financing based on these factors.
Q: Can I obtain a restaurant business loan with bad credit? A: Yes, though options may be limited. Focus on improving your credit score and explore alternative financing solutions that cater to businesses with less-than-perfect credit.
Q: How quickly can I access funds from a restaurant business loan? A: The speed of fund access varies, with unsecured loans typically offering quicker disbursement. Ensure you understand each loan’s terms and how they align with your business’s cash flow needs.