Restaurant Finance - Receive Low Rates and Fast Funding's!

Florida, May 19, 2012 - Lots of people dream of starting their own restaurant, but very few people can do it with just the cash and assets they personally have available

Florida, FL (prHWY.com) May 19, 2012 - Florida, May 19, 2012 - Lots of people dream of starting their own restaurant, but very few people can do it with just the cash and assets they personally have available. A restaurant is not the kind of business you can start on a shoestring, or easily bootstrap you way into a bigger operation. As a result, the financing of a restaurant startup is often the most challenging aspect of getting started for any entrepreneur looking to get into this field.

The first step in any financing plan is to have a very well thought out restaurant business plan. You can't begin to finance a project of this magnitude without a very good understanding of what you are actually going to end up getting. Well, you can, but the results are almost always a disaster!

Restaurant Financing - Equally, or maybe even more important in some cases, is a financial plan that shows you the exact cost you will incur to launch your restaurant, including not only the cost of getting to the point of opening the doors, but also the amount of additional capital required to keep the doors open until you reach the breakeven point- where the business generates enough cash to pay all its bills every month.

Once you have your restaurant business plan and some carefully crafted financial projections in hand, you can begin evaluating your options for financing. The first place to always look is your own funds. Not only are these the easiest to get, but few other people are likely to put any money into your restaurant if they know that you yourself aren't investing in the business.

Restaurant Funding - Restaurants are thought to be a part of the largest risk business ideas. This makes it extremely difficult for a new culinary entrepreneur to acquire required business loans, both when opening the business and when innovation or upgrades are warranted. A entrepreneur could wait weeks or even months to hear a peep from the traditional bank, and in the time being, the business could possibly flounder.

Another choice for attaining business loans is a merchant loan or merchant cash advance. These financing programs fall under the category of credit card receivables factoring. Credit card factoring is a product whereby a third party offers the merchant cash in exchange for a discounted rate on future credit card income. That translates as follows: the credit card factoring lender will give you working capital in exchange for a portion of your anticipated credit card receivables in the future.

Approval is often available within a day or two and the cash is in your possession within about 10 business days - often less. No collateral is necessary since the arrangement is based upon anticipated revenues.

Because the payment term is tied to actual sales, a poor month's business doesn't need "creative bookkeeping" to manage a predetermined payment amount. The one stipulation is that the entrepreneur must stick to the prearranged agreement or the entrepreneur can be held liable for repayment.

The fact is that many small business owners, particularly beginners, simply can't meet the qualification criteria set forth by the conventional banking industry. This does not necessarily mean that the small business owner is doing poorly or that the entrepreneur isn't reputable.

Most of the time the sole issue is the fact that the business is too new and has not had the time to establish a long reputation and credit rating. Acquiring restaurant financing through a merchant account financing agreement makes good business sense in these types of circumstances.


About the Author:

Restaurant Financing - At Nations Advance, we combine industry experience with client-focused service to provide the best business loan and merchant cash advance options in North America. We have a 17 year history of service in the financial industry, including business loan and business cash advance programs. We have always offered merchant cash advances and merchant account loans, and we have considerable resources that let us get you a great rate on business loans.



Contact Details:
Nations Advance
Florida USA
Phone: 888-330-3935
E-mail: info@nationsadvance.com

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Tag Words: business cash advances, working capital loan, unsecured business loan, restaurant funding, working capital, small business cash, restaurant financing

Categories: Finance

Press Release Contact
Contact Details:
Nations Advance
Florida USA
Phone: 888-330-3935
E-mail: info@nationsadvance.com

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