Why Restaurant Business Requires Financing ?
Starting and maintaining a restaurant is costly. Equipment, staff, licensing, and other fees are expensive and add up quickly. Restaurant equipment financing is often necessary to get your business going or to keep it going. During slower seasons, it is important for your business to have the funds to deal with the unexpected.
You may want to remodel your restaurant, or hire another chef. How about the costs of advertising and promoting your business? Advertising and marketing are essential to your success, and money spent on it is an investment in your future. Restaurant business financing offers the working capital you need, when you need it, so you can continue to be successful and stay competitive.
Luckily, there is an alternative in the way of unconventional financing. What does this mean for you? Unconventional funding is achieved through a quick application process. Our financing offers quick turnarounds so you can achieve your dream restaurant at your pace. No more waiting for weeks or possibly months for the bank to cut through the red tape.
The Alternative Financing for Restaurant Business
WG Prime is an alternative financing solution that fits the bill.
Over 75% of applicants are approved for their restaurant business funding.
No collateral is required for restaurant business cash advances.
Fast approval (less than 48 hours)
Up to $1,000,000 loans
With most traditional banks, even applicants with perfect credit may not qualify for the amount they really need to get a business up and running. This is why many restaurant owners opt for alternative lenders as opposed to traditional bank business loans.
The advance restaurant finance option from WG Prime is easy to apply for, and the approval may be obtained within as little as 48 hours. Because the loan proceeds are repaid through credit card and debit card transactions, the credit rating requirements are minimal. This means that these loans are suitable for business with a lower credit rating.
You will not need to provide business financials or a business plan when applying for the loan, and the entire process is designed to be fast and easy.
Restaurant Financing Example
WG Prime may provide a Restaurant Cash Advance by purchasing $48,000 worth of future sales for $40,000 cash. The exact amount will vary with each individual situation. The restaurant uses the money any way it wishes, unlike bank loans, which often have restrictions. The credit card source then deducts a percentage of sales until $48,000 is repaid to complete the contract. It really is that simple.
How to Apply
Whether you are just starting out, or are established and looking to expand or renovate your operation, finding the right restaurant equipment financing is an important decision. Restaurant financing done right means seeking out a lender that knows your industry.
It’s difficult in this day and age to get loans for small and medium size businesses. Banks can turn you down for many reasons, such as lack of collateral, bad credit, and so on. A restaurant equipment loan from a lender that specializes in the restaurant financing field offers the benefits of fast approval, the cash you need in a timely manner, and hassle-free service to get you in business and keep you in business.
Whether your company is in need of an advance restaurant equipment loan or you need quick funds for another type of business,
WG Prime may have the ideal loan solution for you.
Because the loan terms can be customized to meet your needs, this is an affordable solution that is right for many businesses, and the merchant advance may provide you with the funds needed without delay.