Spring is finally here, and food lovers everywhere are coming out of hiding. For the majority of restaurants in the US, this means a boost in sales by as much as 20%, as winter comes to an end.
Restaurant owners across the country are securing restaurant business loans from National Business Capital in preparation of the busy season in order to take full advantage of the warm and busy months to come.
But with so many finance options available, which kind of restaurant business loan would benefit your business most? First, ask yourself this question:
What Do You Plan to Use a Restaurant Business Loan For?
If your answer involves using the extra capital for quick fixes and business improvements for your restaurant, including:
- Hiring Staff to Help More Customers
- Purchasing Furniture for Extra Seating
- Increasing Inventory
- Leasing or Upgrading Kitchen Equipment
- Managing Payroll
- Resolving Cash Flow Issues
…Then the financing advisors at NBC suggest you secure one of these 3 restaurant business loans to gets you fast access to the capital exactly when you need it, so you can seize your opportunity for growth this spring season.
Top 3 Fastest Restaurant Business Loans
- Equipment Loans
When commercial kitchen equipment stops working, so do restaurants. Having the capital to lease or upgrade equipment ASAP is vital to keeping a restaurant business up and running.
With restaurant business loans from NBC, you receive funds for equipment financing in as little as 24 hours, with the ability to write off all commercial kitchen equipment in a single year.
Business owners are also securing NBC’s equipment loans to purchase furniture for extra seating arrangements, and take on larger volumes of customers.
- Business Term Loans
With flexible financing and 1-5 year term lengths, business term loans are excellent for covering virtually any restaurant business need, including hiring staff, purchasing materials, and increasing inventory.
With fixed daily, weekly or monthly payments, easy qualifications, and minimal documents required, these restaurant business loans save owners time and money with simple repayment terms, and speedy access funds.
- Merchant Cash Advance
Borrow against the sales of your customers. This is especially useful for restaurant business owners who would rather not repay capital borrowed out of pocket.
Instead, restaurant owners sell a small percentage of the future sales of their customers, giving restaurant businesses the breathing room needed to make any number of improvements, including hiring extra staff, managing payroll, and bridging gaps in cash-flow.
And with repayment terms that fluctuate the sales a business makes, with a merchant cash advance, the less sales your restaurant makes, the less you have to pay.
Is Your Restaurant Prepared for Spring?
Contact one of NBC’s expert financing advisors, available 24/7 to listen to your story, and find you the perfect restaurant business loan to help your business make this spring your busiest season yet. Or, fill out NBC’s 1-minute, 1-page application online to get approved in as little as 24 hours.