Restaurant Financing - Frequently Asked Questions
This faq page is to help you answer questions you may have about the website or restaurant financing!
I can only help you, as much as you allow me to help you!
What I mean by this is, that I need your help in providing you the best possible information dealing with alternative financing options for the the food and hospitality industry, or other things you would you have liked to find on my website but did not!
Questions You Can Ask Me & Comments Good or Bad You’d Like To Tell Me
- What you like about the site
- What you do not like about my site
- What you would like to see at my site that you do not find in other sites
- What you do not understand about merchant cash advances
- What questions do you have related to restaurant loans
FAQ Starts Here
Why Is It Hard For You A Restaurant Owner To GetA Restaurant Loan
Answer: Restaurants are looked upon as a bad risk, due to myths created by bankers and others. There is no real data to support that restaurant failure is more common among restaurant businesses then other businesses. Bottom line is that based on some statistical data researched, restaurant businesses have similar failure rates as other non - restaurant based businesses.
What Is A Merchant Cash Advance Or Business Cash Advance
Answer: It is not a loan period! It is a cash advance based on your future credit card receivable transactions. No collateral is required like at your local bank. Quick approval and easy to get financing in 10-14 days.
If You Are Opening A Restaurant In 30-90 Days Can You Get Financing
Answer: Yes… Absolutely, when no one else will fund you we will. No traditional bank will provide a loan especially since you have not proven yourself and have no track record.
Can You Get Financing If You Have Bad Credit
Answer: Yes
Will Your Information Be Sold
Answer: We do not rent or sell any information to any 3rd party. All information acquired on this application is used only for the purpose of approving your business financing application.
If You Just Opened A New Restaurant And Only Open For 3 Months Can You Get Financing
Answer: Yes
If You Are A Franchise Owner Can You Get A Merchant Cash Advance
Answer: Yes - In fact if you are just opening you can get actually get a higher cash advance since you are a franchise restaurant owner.
Can You Apply For A Merchant Cash Advance If You Are Not Located In NYC
Answer: Yes… Anywhere within the United States Except Puerto Rico
If You Have Another Business That Is Not a Restaurant Can You Still Apply
Answer: Yes… Any retail business that uses a credit card machine and processes credit card transactions
Do You Need Collateral Like At A Bank To Apply
Answer: No