Merchant Cash Advance Loans for Restaurants
It requires capital funding in order to successfully expand any business. Restaurants are no exception. Without a business loan or cash advance to build out and add dining capacity, potential profits for restaurant owners are simply limited.
In the past, restaurants looking to expand would seek traditional business loans or financing from banks. While these expansion loans from big banks are still a viable solution, the lengthy approval process and generally inflexible terms are a turnoff for some merchants.
The good news is that there is now an alternative to a traditional business loan that allows restaurants to receive the financing they need fast and easy! This solution is known as a merchant cash advance.
Merchant cash advances are ideal for businesses like restaurants because funding is based on monthly credit card sales, and not backed by the business’s assets.
Traditional business loans have fixed monthly payments. With a merchant cash advance, monthly payments are determined by a set percentage of monthly credit card sales volume. This fluctuating repayment schedule is preferable for restaurants, as it does not eat up all cash on hand during slow months or seasonal sales droughts.
Unlike loans or financing from banks with strict terms, merchant cash advances offer flexibility in use of funding. Restaurant owners can use the cash for any purpose; whether that be building a new location, expanding an existing restaurant or purchasing new equipment.
Approvals and funding for merchant cash advances for restaurants is quick. After an approval, cash advance financing can be received in as little 3 business days.
If you’re interested in learning more about a merchant cash advance for your restaurant or other services such as credit card processing, give us a call!
At The Transaction Group, we’re dedicated to helping businesses of all types with business financial services. We look forward to helping your business succeed.
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Are you shopping for a better rate? Let us save you money!
Most merchants are unaware that interchange rates are adjusted as much as 2x per year. Over the course of several years, those adjustments can hike up a merchant’s rate and cost the merchant thousands in processing fees. Contact us via the form above, or call us today at 888-383-8056. Chances are, we can save you up to 25% over your existing rates and fees!
Why do businesses choose to work with The Transaction Group?
- We aim for 100% customer satisfaction. We understand that the customer comes first. At the end of the day, if the customer is not happy, we’re not happy.
- We offer a FREE rate analysis to every business. In most cases, we can save a business up to 25% on existing rates and fees. But if we can’t beat a customer’s rate, we’re upfront from the start. We don’t waste the customer’s time.
- We are reliable and always available. If a customer has any concerns, we’re available even after business hours. We’ll address any issues immediately.
- We don’t believe in one-size-fits-all.We provide solutions based on the specific requirements of each and every business. What’s best for one small business may not work for another.
- We have a fast & easy setup process. In most cases, we offer a fast and easy approval and set up. While some high risk businesses can have longer underwriting times, we keep the customer informed throughout the process and work for fast approvals.
- We have solutions for every business type. From low-risk card-present credit card processing solutions to payment processing solutions for high risk e-commerce stores, we’ve got it all.
