If you’re in the restaurant business, you likely know by now how incredibly hard it can be to get a loan for a restaurant.  You’ve probably already read a ton of blogs titled, “How to get a loan for a restaurant” and you probably think you’re completely out of luck because of one thing- bad credit.  Well that’s not true!  Square Capital Funding offers a business loan for restaurant owners- even if you have credit as low as 500! Simply follow these steps and keep reading for more information!

What’s with credit anyways?

When it comes to credit, it can show us lenders a lot of things about you- the person applying for a loan.  What it doesn’t tell us however, is the condition of your business. That’s how much cash flow you have coming into and out of the restaurant every month.  If you have $8,000 of cash flow coming in every month we can almost guarantee you can be approved for a business loan that you can apply to your restaurant- and you could even get approved today!

Why not use the traditional lenders?

So if you want to know how to get a loan for a restaurant using the traditional banks and lenders- you’re going to have to have almost more than perfect credit with NO credit issues in the past seven years. On top of that you’re going to really need to prove the stability of the restaurant and that it won’t be shut down and therefore causing the loan to go into default.  Let’s not forget there’s always a fee, and the process takes a soul crushing amount of time.  There’s a ton of red tape, and usually they need more explanations of anything that might cause them to question you.  It’s more like an interrogation of sorts.

Here at Square Capital Funding we know that stuff happens- and this can effect credit.  No big deal.  We aren’t going to ask you a million questions and ask why you purchased that plane ticket when you clearly didn’t have enough in the bank.  We know emergencies happen, sometimes you do what you have to do.  We aren’t the NSA, and won’t act like it either.

Here’s how simple our process is-

How we can you get you approved for a restaurant loan when you have bad credit:

  1. We look at your business- and the condition it is in.
  2. We look at how long the business has been open
  3. And we look for a credit score of 500 or more
  4. That’s it!!! Just those three things.

Here’s how our business loans benefit you-

  1. They allow for flexible monthly payments. Because we choose how much you will pay back every month of a percentage of your businesses cash flow (and amount of the loan) – the amount you pay every month will depend on how much you bring in that month.So that means on the slower months you don’t at all have to worry about making the payment, it will just automatically adjust to something we know you can afford.  This way you can really focus on your customers.
  2. There are no fees.Zero. Zilch.  The last thing you want to deal with is having to pay to apply for a loan you aren’t even guaranteed you’re going to get. While we do approve almost anyone- we do not charge you to apply.  Our loans or no obligation.  And to add to that- we don’t have hidden fees or early payoff fees.
  3. You can use the loans for whatever you want.Once we approve you and the money is in your account, you can use the money to your discretion. We personally think using the loan money for a down payment on real estate or even to help your restaurant grow is a good choice- but if you just need it to pay bills or fix your car, then go for it.
  4. No stress.We’ve applied with the traditional banks before.  It’s stressful and incredibly time consuming!  Nobody had that kind of time- and nobody wants to hassle with digging up the past ten years of financial records.  We just need a few documents, your signature, and application.  That’s it.  You’ll be on your way in minutes.

So how to get a loan for a restaurant is simple and easy- use Square Capital Funding’s Business Loan program and skip all the hassle of traditional lenders and banks! You can get your equipment upgraded, hire that chef, expand or even purchase the building for a second location- and all stress free.  We want you to be able to focus on your business and customers- not waste time with red tape, long waits, and all to hear you were denied because a number.

Remember- our business loans are no obligation, there are never fees, and we can get the money to you in 1-3 business days.  And we’re not going to interrogate you in order to get you approved- we know you need this business loan asap, so we’ll work fast for you.  It’s our promise to you.

I bet you’re ready to apply- so here are the steps!

  1. Print out three months of your businesses bank statements (the most current please)
  2. Fill out our application found here
  3. Email the application and bank statements to info@squarecapitalfunding.com or martin@squarecapitalfunding.com

We know that these articles cannot answer all the questions you might have- should you have any questions, or a unique situation where you think you might not qualify- ask below in the comments.  We’ve been able to work out things for others before, so don’t hesitate to ask.  If calling is better for you, feel free to do that even fill out the inquiry form on the site.

Thank you for taking the time to visit our site and learn more about Square Capital Fundings- we look forward to working with you!

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