Restaurants

Running a decent restaurant is quite a challenge because of the unpredictable nature of the business. Restaurants do not come under essential services and yet the good ones experience tremendous customer footfall on specific days of the week. All said and done, there is a substantial running cost of the restaurant that can sometimes bring you to a dead end if you run out of cash.

For instance, much of the inventory needs to be fresh food stuff needing payments on time. Similarly staff wages also cannot wait and yet, working capital shortages are always lurking around. If you face such cash shortages, your best source of credit is alternative funding. 

A restaurant’s list of expenses  

It is said that good restaurants function mainly with the passion of the owners. That passion is a multi-pronged capacity ranging from deciding the menu, to supervising the kitchen, managing stock and inventory as well as interior decor and ambience and paying staff wages on time among others. 

However, a restaurant is a small business and like all other small businesses it faces regular working capital shortfalls. In such a situation, if the cash is not arranged on time, the restaurant cannot function. Thankfully, you can access alternative business funding to tide over such cash shortages in quick time. 

Leverage credit card transactions to access funds 

A substantial amount of a restaurant’s revenue comes from payments that customers make through their credit cards. As the merchant accepting credit card payments you would be required to show the statement of credit card payments you have received in the recent past to be able to access the funds. 

Once the alternative lender is satisfied that your total credit card transactions are large enough to help you access this particular mode of small business funding, they release the funds to you. This kind of quick cash availability without any hassle gives your business the boost that is needed to achieve sustainable growth. 

Easy approvals and fast disbursals 

By far, the easiest mode of small business funding is a merchant cash advance for a smaller sum of money. Your working capital requirements are usually going to be much less than any elaborate funding for business expansion. Apply for the merchant cash advance and get the money in quick time. 

Besides, for merchant cash advances, the alternative lending agency will just verify your account statement for the last year or two. This is basically to ascertain that there are enough transactions to merit the cash advance.  They don’t even do a credit check to see how well you have repaid your earlier loans. 

By all accounts, small Business Capital Loans like a merchant cash advance are ideally suited for meeting working capital shortfalls. It doesn’t make sense to borrow a bigger loan just because it is available on easier terms through alternative lenders because such funding is costlier.

The reason for the higher cost is the wonderful convenience they offer to small businesses that are otherwise considered a high risk segment by traditional lenders. Alternative Funding Group is a leading provider of easy and hassle-free loans to small businesses and in over 5 years of operations they have disbursed over $200 million of funds to businesses of all sizes. 

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