Running a great restaurant takes more than good recipes and delicious ingredients it takes money, which often means getting restaurant loans and financing for your working capital with a business line of credit to keep your restaurant cooking! 🙂
Let Kabbage help you cut through the red tape and get the restaurant loan you need TODAY! Visit Kabbage.com!
As a restaurant owner, you have a variety of options for your restaurant financing needs. Here I will review your restaurant financing options, detail who they are right and wrong for, the advantages and disadvantages and best uses (equipment, buying, leasing, supplies, marketing, advertising, or hiring) of each loan type – plus my recommendations.
How to Name Your Restaurant in 6 Easy Steps
Kabbage knew that this was unfair and started their company on the premise that all businesses, yes even hospitality and food services, deserve access to restaurant financing up to $250,000. They worked hard to cut out the red tape, hassle and disappointment of waiting weeks only to be turned down by traditional lenders.
Flexible Funding – Buy What you Want and Access Daily by Credit Card or Mobile App
You and you alone decide how you want to spend your working capital money. No banker or finance company will restrict your purchases or have any say what or where you buy your equipment or supplies.
This is vital that you as the entrepreneur and leader of your restaurant have the flexibility to use your working capital for any expense such as equipment purchases, equipment lease payments, supplies, rent, payroll, events, menu designs, marketing, website design and online advertising.
You know what is needed to take your restaurant to the next level of growth and make money.
Funds are available for easy withdrawal either with your Kabbage Card, which works like a major credit card, the mobile phone app or online dashboard to transfer money to your business checking account – as often as once a day.
Easy Online Application: Takes Minutes and Uses Your Existing Accounts to Get Funding in Hours – not months!
You do not have to complete even one lousy application form or any paperwork, nor try to find those old financial statements. Yea 🙂
Instead, Kabbage uses computer power and your business data to assess your restaurant loan application. The application process is completely online where you “connect” online accounts, both credit card payment processors (such as POS, Paypal, Amazon, Stripe, etc), bank accounts and accounting software (Intuit Quickbooks Accounting Software, Xero, Sage, and others). Then Kabbage assesses your business performance and sometimes in minutes, up to 48 hours, will notify you of your line of credit approval.
Once you are approved you will have access to the money sometimes within hours to your Paypal account, or at most 3 days, if you opt for having the funds transferred to your checking account. So you can hire that new chef, buy those advertisements and order new supplies or equipment right away just in time for your busy season or that big catering event or party.
Kabbage for Restaurant Loans. Visit us now at Kabbage.com
Simple Repayment Process: Auto payment Options and No Extra Fees
These loans have very clear and easily understandable repayment terms. In fact, you can use their online loan calculator to see EXACTLY how much your interest rate will be, your total loan cost, repayment amounts, and due dates.
This way you can review your repayment schedule and amounts and determine if they work with your budget before you accept the loan – helping your cash flow continue to flow. You will not be surprised by unexpected loan payments on inconvenient dates, squeezing your budget and requiring reallocating of your funds and extra accounting tasks.
Unlike other short-term alternate lenders, Kabbage does not charge you origination fees nor prepayment penalties fees, reducing your cost of capital which increases your profit margin.
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