Running a successful restaurant can be a very fulfilling, yet challenging task. In a recent survey of restaurant owners, only 38% described their financial situation as “good to excellent.” Being able to handle many different challenges is the source of great satisfaction, along with some headaches too.
But when restaurant owners are asked to name their greatest challenge, one thing tends to top the list most often; accessing working capital to manage cash flow. In other words, making sure there is enough capital flowing in to cover everything that needs to flow out.
There are a variety of reasons why cash flow can be a steep challenge for restaurant owners. For starters, it's expensive owning a restaurant; workman's comp and food costs are exorbitant. Things like having excessive inventory of perishable items, poor forecasting of business volume, and even the inability to adjust prices as often as food costs fluctuate. Maybe you have poor relationships with food suppliers, or perhaps your restaurant is in a tourist town, so your business is a bit more seasonal.
Often, restaurant owners can optimize cash flow by negotiating longer payment cycles, but that's not always an option. Luckily, there are other solutions that can provide enough capital for inventory, payroll, new equipment, and even provide enough capital to expand. Furthermore, these options are easy to obtain and can be used for any business expense: small business loans, cash flow loans, revenue based loans, and a loan against credit card sales.
Unlike a bank, we won’t make you jump through hoops or wait for months for financing. Our small business loans, business cash advances and cash flow loan give you the flexibility to address the unique needs of your restaurant, including, but not limited to:
- Expanding or remodeling your restaurant to bring in more customers
- urchasing new kitchen equipment or a POS system to improve efficiency
- Advertising to attract more customers and/or promote special events
- Boosting your cash flow to help with unexpected business expenses
You can put a small business loan, cash flow loan, or credit card cash advance to work immediately for your restaurant, whether it means meeting payroll for a few months, negotiating a great deal on inventory for paying in cash or hiring and training those new employees you need. Our business financing solutions for restaurants can help you operate your restaurant without missing a beat, or even take advantage of an unexpected or one time business opportunity.
But wait, then there are those costs that no business owner sees coming. The sudden need to replace an important piece of equipment or the need to upgrade technology to improve efficiency and save money in the long run. Repairs, sprucing up the exterior or dining room, even marketing and advertising can all be critical elements to your brand and your ability to grow your restaurant. In today’s super competitive environment, you don't have time to waste...especially when the future of your business and the livelihood of your employees is on the line. Working capital can be just a few clicks away!
As one of the nation's premier sources of working capital for restaurants, we understand that when restaurant owners need financing, they need it now and cannot wait weeks or months. So, we’ve made our application process as simple as possible, with a minimum amount of paperwork and documentation required.
You won’t need to spend days and weeks retrieving tax forms and accounting information. Instead, with a signed application, a few bank statements and credit card statements, we are good to go.
Once approved, you’ll have an offer in a matter of hours and funds in your account in as little as 24 hours. How’s that for turnaround? And when we say “working capital,” we mean it. It’s up to you how to best use the funds, for any business expense.
So what are you waiting for? Restaurants like yours, all over the U.S. are savoring their success thanks to a business cash advances, cash flow loans and small business loans from LVRG.
If you believe in your restaurant, we’ll help you take that next step to realizing your goals. Get started today and we’ll take care of the rest!