If you’ve always dreamed of turning your culinary talents into a successful restaurant, then we can help you get started. A Restaurant Grand Opening Cash Advance is a perfect way to get the capital you need to turn that dream into a reality. It is similar to the Merchant Cash Advance (MCA), but unlike the MCA, we can provide funding from the start.
This program is used for new restaurants to obtain cash within days of opening:
• We can provide approval 1 week before you open the location for business.
• Typical funding amount is based on perceived credit card processing volume. Average funding amount is $25,000 to $50,000.
• Will require credit card processing.
• There are requirements for location.
• Must be full-service location – sit down restaurant; selling beer/wine.
• We can fund a high-traffic fast food opperation – but is difficult to get approved.
• Credit score must be a 650 or above for the 51 percent majority owner.
• Restaurant cannot be older than 9 months time-in-business.
• Rate is 1.39 for 7-9 months payback.
• No down payments, fees or closing costs.
Paperwork requirements for approval
1. Funding Application
2. Business Plan
3. Type of Cuisine
4. Number of Seats
5. Menu- with prices
6. Photos of location inside and outside
7. Executed Lease Agreement
8. Driver’s License of all owners
9. Voided Business Bank Check
10. Sales Agreement for the Business (if applicable)
11. Copy of Alcohol License
12. Merchant Processing Application (once approved)
Don’t wait any longer for your dream of restaurant ownership. Apply today!
Click here to go to the application download page.
