Restaurant Financing Scenario – Using a Business or Merchant Cash Advance
Here is a scenario that demonstrates a cash advance restaurant financing option:
The Stellar Supper had been in business for 3 years. As luck would have it, a well-known food critic was tipped off as to the quality of dining experience and good food they provide, and wrote up a review that went viral. Now they have reservations booked weeks out in advance and are turning away customers.
Like other small business owners, they don’t like turning away customers. The restaurant’s owners realized they could expand by adding more seating if they built a 3-season covered outdoor dining area, a space which could even be reserved for large groups, corporate events and other parties.
They applied for a merchant cash advance and received 150% of their average monthly credit and debit card sales in a lump sum. They used the working capital to fund their restaurant expansion including the new furnishings, lighting, heat lamps, décor and other elements needed for the patio, as well as a larger grill and warming equipment for their kitchen.
The Stellar Supper expansion was completed during the spring and now they don’t have to turn so many customers away. By leveraging the working capital available to them in a merchant cash advance they were able to significantly increase revenue as well.
Take the next step in growing your business by requesting a free, no-obligation quote for one of our restaurant financing solutions today.