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Restaurant Business Loans - Build your loan On the Fly.
Do you need new equipment, employees or inventory for your restaurant? We have the restaurant financing tools you need to-go. Compare restaurant business loans with Upwise.
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Restaurant Business Loans: How They Can Help You
Running a restaurant or food service business comes with many challenges unique to the industry. Restaurants are very competitive in nature, which can make it difficult for owners to see consistent cashflow. Some restaurants are seasonal, in addition the high level of employee turnover also makes finding a high-quality staff difficult. It might seem overwhelming to manage cash flow through these unexpected ups and downs. That’s where business loans for restaurants and food service companies can help.
Open a New Location or Upgrade Your Equipment
If you are a small business owner looking to remodel your restaurant or open a new location, then a restaurant loan can be used to finance your renovation project. Additionally, if you need a business loan for restaurant equipment, see our financing and leasing options.
What can a Restaurant Business Loan be used for?
Partner with New Vendors
- Put yourself ahead of the competition by partnering with the new vendors using a restaurant business loan
- Have the extra funds to expand inventory and ingredients such as, adding a new craft beer on tap or adding a seasonal menu item
Hire More Staff
- With restaurant business financing, you can address the need for hiring more employees
- Apart from financing hiring, you may also use funds from a restaurant loan for training costs and payroll to keep your employees happy
Marketing & Advertising
- Use a restaurant loan to advertise and grow your customer base or promote new specials and discounts
- Build or optimize your website, add new signage, or place a magazine or newspaper ad to generate new customers
Manage Cash Flow
- Maintain your capital cash flow to manage expenses during the slow season
- Utilize restaurant financing loan options to fund your inventory and payroll, before your cash flow is low or business gets slow
Upgrade Restaurant Equipment
- You can use a restaurant loan to buy dining room interior design elements such as tables and chairs or add on an new outdoor space.
- Use equipment leasing and financing to purchase ovens, fryers, dishwashers and all top quality commercial kitchen equipment
Buy New Inventory
- Importantly, inventory is what keeps business going to ensure you have the necessary ingredients to cook everything on your menu
- Restaurant financing can be taken advantage of to ensure you can always purchase inventory and as a result keep your customers happy
6 Best Business Loan Options for Restaurants
Working Capital for Restaurant Companies
The restaurant industry has unique challenges when it comes to managing cash flow and working capital. Undoubtedly, margins are usually thin and it can take months for the restaurant to get paid. For instance, you can use a working capital restaurant loan to bridge the gap between the time you receive payment and meeting your capital needs. Working capital loans provide a fixed amount of money, with a fixed cost which are paid back over a term of 3-18 months.
Equipment Financing for Restaurant Companies
An equipment financing loan can be a great option for a restaurant loan, especially if you are looking to lease or finance a piece of equipment. Many restaurant companies utilize kitchen equipment and updated dining interior to give their customers a nice atmosphere. Therefore, a new piece of equipment can certainly have a huge impact on the growth of the business. A business loan for restaurant equipment is usually structured as a lease to purchase or a fixed-term loan.
Lines of Credit for Restaurant Companies
Restaurant lines of credit have the flexibility that other loans do not. Similar to a credit card in the sense that it’s a revolving line of credit which allows you to draw funds as you need it. Also, you only pay interest on the funds that you draw. Additionally, early repayment discounts work great for restaurants because once you’ve finished using the money, you can pay it back and save drastically on interest.
Term Loan for Restaurant Companies
A business term loan is another great option for restaurants or food service industry companies. Term loans are meant for those established restaurateurs. In other words, those that are showing a profit on their most recent tax returns, have been in business at least 2 years and have a good credit score. The proceeds from this type of restaurant loan can be used for a multitude of business purposes such as marketing, expansion or remodeling.
SBA Loans for Restaurant Companies
A Small Business Administration loan or SBA loan is a loan guaranteed by the Small Business Administration. On the contrary, the SBA is not the lender, but they do guarantee the loan through an approved SBA lender. Even so, a restaurant SBA loan is a highly desirable financing product, however the process is long with many paperwork requirements and high credit standards. See how an SBA loan for a restaurant business can help you.
Real Estate Financing for Restaurant Companies
A real estate financing loan can also be a great option for a restaurant loan, especially if you have collateral to secure against the loan. Many restaurants we come across have equipment, land, buildings or food purchase orders which can be used as an asset to secure a restaurant business loan. For instance, restaurant owners will use an asset for more favorable terms, resulting in a higher approval and lower interest rate. Similarly to an SBA loan, the process can be long and require lengthy paperwork.
How to Apply for a Restaurant Business Loan
Restaurant Funding Solutions
to Boost your Success
Small business restaurant loans are easy to secure. It only takes a few minutes to apply, and Upwise will present you with options.
Applying won’t impact your credit score.
Why Upwise for Restaurants
- We Know Restaurant Businesses
- Trusted by Companies Like Yours
- Personalized Experience
- Fast & East Application Process
- Loan Specialists Who Are Wiser & Care
- Transparent Terms & Automatic Payments
Types of Restaurant Companies We Serve
We offer restaurant loans to a wide range of industries and companies. You deserve options. Therefore, Upwise provides restaurant working capital, lines of credit for restaurant companies, commercial loans, business loans for restaurant equipment, restaurant business term loans, real estate financing and other restaurant business financing options, to meet all your needs. So, here are some of the restaurant companies & industries we’ve worked with:
- Restaurant & Food Service
- Cooks & Private Chefs
- Food Industry Event Companies
- Food Trucks
- Catering
- Wedding Venues
- Bars & Taverns
- Franchise & Multi Unit
- Bakeries & Cafes
- Specialty Food Shops
- Mall Food Outlets
- Gourmet Food Stores
- Supermarkets
Compare All Restaurant Business Loan Options
Max Loan Amount
$25K to $20MM
Profitability
Shown on Tax Returns
Loan Term
5 to 30 Years
Credit Score
620+
Interest Rate
7 % - 30 %
Time in Business
Greater than 2 Years
Speed
As Fast As 2 Days
Annual Revenue
Over $200K
Term Loan
A traditional business term loan is a lump sum of capital that you pay back with regular repayments at a fixed interest rate. The “term” in “term loan” comes from its set repayment term length, which will typically be one to five years long. Most business owners use the proceeds of term loans to finance a specific, one-off investment for their small business.
- Bi-Weekly & Monthly Payments
- Longer Payment Terms
- Lower Interest Rates
Loan Amount
$5K to $250K
Unsecured Line of Credit
Loan Amount
$100K to $10MM
Secured Line of Credit
Loan Term
6 Months to 2 Years
Credit Score
500+
Secured Line of Credit: 620+
Interest Rate
7 % - 25 %
Time in Business
Greater than 1 Year
Speed
As Fast As Same Day
Annual Revenue
$150K+
Business Line of Credit
A revolving business line of credit gives access to a pool of funds to draw from when a business owner needs capital. Unlike a traditional business loan, you have the flexibility to borrow up to a set amount, repaying only the amount you withdraw, plus interest.
- Weekly or Monthly Payments
- Only Pay Interest on the Funds you Draw
- Save on Interest by Paying Back Early
Max Loan Amount
100% of Equipment Value
History
Good Financial History
and Tradelines
Loan Term
1 to 8 Years
or Expected Life of Equipment
Credit Score
500+
Interest Rate
As Low As 4 %
Time in Business
6 Months +
Start Ups Encouraged to Apply
Speed
As Fast As 2 Days
Annual Revenue
100K+
Equipment Financing
Equipment financing helps you finance up to 100% of the new or used equipment you need for your business. A fast and easy way to finance the purchase of all types of equipment. With a secured loan against your equipment, you can take advantage of the equity in your existing equipment, or use newly-purchased equipment as collateral.
- Avoid large upfront costs for equipment purchased
- Equipment used as collateral
- Monthly Payments
Max Loan Amount
Up to 100% of Invoice Amount
Invoices
From Credible Clients
Repayment
When Customer Pays Invoice
Credit Score
Over 600+
Factor Rate
8 % - 30 %
Time in Business
Greater than 1 Year
Speed
As Fast As Same Day
Annual Revenue
150K+
Invoice Financing
Invoice financing is a type of asset-based financing that allows business owners to free up unpaid invoices. With invoice financing, you can get a fast advance of about 85% of the value of your invoices, with most of the other 15% paid to you later.
- No Need to Wait for Invoice from Customers
- Low Interest Rates
- Invoice is used as Collateral
Loan Amount
$5K to $5MM
History
Positive Payment History
Loan Term
3 Months to 2 Years
Credit Score
500+
Interest Rate
9.99 % - 24.99%
Time in Business
6 Months +
Speed
As Fast As Same Day
Annual Revenue
120K+
Short Term Loan
Short-term business loans are lump-sum loans that are designed to be paid back in less than 18 months. They can be a flexible financial tool, best used for financing short-term needs—including managing cash flow, dealing with unexpected needs for extra cash, bridging larger financing options, paying off expensive debt, or taking advantage of unforeseen business opportunities.
- Bad Credit Accepted
- Minimal Paperwork & Fast Funding
- Prepayment Discounts for Early Payoff
Loan Amount
$5K to $5MM
History
Positive Payment History
Loan Term
3 to 18 Months
Credit Score
500+
Factor Rate
1.10 - 1.36
Time in Business
Greater than 3 Months
Speed
As Fast As Same Day
Annual Revenue
120K+
Working Capital
With this product, you are advanced cash in exchange for a percentage of your daily credit card and debit card sales, or your monthly revenue. Working Capital can be a quick and easy way to get a business cash advance with no need for collateral, even if you don’t have a good credit score.
- Minimal Paperwork, Easy Approval & Fast Funding
- Prepayment Discounts for Early Payoff
- Bad Credit Accepted
Loan Amount
$5K to $5MM
Loan Amount
$350K
SBA 7(a) Small & Express Loans
Loan Term
5 to 30 Years
Credit Score
650+
Interest Rate
Starting at 6.75 %
Time in Business
Greater than 2 Years
Speed
As Fast As 2 Weeks
Annual Revenue
Over $200K
SBA Loan
SBA loans are the government-backed loans your business needs. The U.S. Small Business Administration (SBA) is a federal agency designed solely to help small businesses get the funds they need. The SBA doesn’t actually lend you any cash, yet it establishes guidelines and guarantees portions of those loans by an approved SBA lender.
- Monthly Payments
- Longest Payment Terms
- Low Interest Rates