For the numerous small and medium sized restaurants that require and are looking for restaurant business loans we provide those. The funding that we provide is quick and hassle free, and most small businesses are able to easily qualify. What we ask and request small business owners to be is sure about the funding they require, because they will get it easily, so they need to be sure how they plan to use it as well, and when they require it exactly. This clarity of thinking helps the small business do better, and also helps us provide more customized and well-coordinated services to the business.
Banks on the other hand do not take the same approach. The basic approach of banks is not to fund small businesses, as they are truly not keen on doing so. As a result of this the qualification criteria that banks have is extremely stringent, and most small business fail to make the cut. Due to this, over 90% of all small businesses loan applications are rejected.
We do provide small and medium sized restaurants with the restaurant financing that they require. The criteria that we have is completely different from those of the banks and other financial institutions. Based on the simple criteria, which we have mentioned below here, any restaurant owner can ascertain for themselves whether they qualify for the funding or not.
• The owner of the business should not be in any form of bankruptcy
• The business needs to be at least 12 months old and a running business.
• The gross income of the business needs to be at least $10 thousand a month or over that.
These are the very simple qualification criteria that we have, and based on these most small business do qualify for the funding. In addition to this there are also other features that go on to make the funding that we provide simple and hassle free, and these are mentioned below.
The processing time frames that we have to provide small and medium sized restaurants with restaurant loans is within 48 to 72 hours, and at the most a week to ten days, not over that. The reason for this is simply because our funding criteria are very simple as mentioned above, which simplifies the entire process. Banks and other financial institutions do not process the funding so quickly, and generally take a couple of months to do the same at the earliest.
In addition to this we also do not ask for high credit scores, as these are also not part of our qualification criteria. As a result of this we are able to work with credit scores that are in the low to mid-500s, and provide them with the restaurant funding that they require. Again here, banks and financial institutes would not do this, and would ask for premium credit scores, as this is one of their primary qualification criteria.
We do not require collateral either to provide small and medium sized restaurants with small business loans for restaurants, and the reason for this is simple as well. Our loans are uncollateralized and unsecured loans. Banks and other financial institutions who consider small businesses to be a high risk investment would not be giving funding without collateral. The general value of the collateral that banks and financial institutions require needs to be worth double the value of the loan amount applied. For More Information Related To Restaurant Financing Companies Contact Us. Our Funding Team Will Provide You With The Information You Require, And Assist You With The Filling In Of The Application.