When it comes to funding restaurants, lenders tend to be cautious with loans for one main reason. Risk. Even with all the culinary stars aligning, restaurants, unfortunately, have a higher probability of going out of business than other retail stores. One second you’re hot, and the next second, not. For this reason, cash flow is essential for restaurateurs to weather these types of storms either by renovating or expanding. Modernizing kitchen equipment is also crucial when it comes to elevating the dining experience. Add in payroll for waiters, a host and chefs, the lifeblood of your establishment, and you can start to see why funding is a necessity.
So what are lenders looking for when it comes to your restaurant? Location is essential for foot traffic sustainability. Reputation is critical to keep them coming back. Do you have a five-star chef? Keep all of these factors in mind. Then once you’re considered for a loan, focus on these lending parameters.
Within a few days of working closely with Upscale Capital, the funds were transferred.
Each question or concern I had was always answered in a timely manner. The company has a high level of professionalism.
I now have my preferred source of capital and I can feel relieved that I have a partner always alongside me.
The entire process takes just 2 minutes with no fee.
92% of the applications submitted are approved within 24 hours.
Funds are deposited to your bank account within hours of approval.
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