Merchant Cash Advance Bolsters Restaurant Loans and Financing

Merchant Cash Advance has reported that they will increase restaurant lending from $500,000 to $2 million. These loans are designed for medium-sized businesses that are in the need of fast financing.

 

According to Merchant Cash Advance in a recent press release on March 7, 2012, they report, “We have been able to secure a new financial partnership that allows us to connect business owners with literally millions of dollars in working capital.”

 

Restaurant Financing – Mutually Beneficial to Both Parties

 

Merchant Cash Advance has always had a vested interest in food service. Their restaurant loan program is in high demand and is their primary source of success. The prerequisites for admission to the loan program are also easier to meet than before.

 

A restaurant pulling in $300,000 a month could be eligible for $2 million in financing with little processing involved; however, startups do not fall in the same category. In some cases, a small startup may get $20,000 in loans IF they are bringing in $20,000 a month in gross sales or $1,000 a month in credit card sales.

 

Still, this offer is a lot more than most credit unions and banks are willing to offer. Merchant Cash Advance specializes in several different restaurant loan programs, and we think that other loan programs may follow suit due to their high level of success.

 

Merchant Cash Advance does not cater exclusively to restaurant owners. They also work with suppliers and wholesalers, and even retail outlets.

 

Economic Future Looks Bright

 

Since the unemployment rate went down to 8.3% nationwide, the restaurant industry has been one of the first to feel the weight lifted. People are willing to eat out more. Restaurants are lined up for prosperity again.

 

Not only does this look hopeful for current owners looking to broaden their horizons, but it says good things for the restaurant industry overall.

 

Tags: restaurant financing, restaurant industry, restaurant loan program, restaurant loans, restaurant loans and financing