Despite restaurants being the second-largest category of small businesses, banks are often weary to lend a helping hand. High default rates (of nearly 70% of new restaurants), upfront equipment costs, and other hidden costs leave banks unwilling to lend to the chefs and restaurateurs that create the places people love to eat. With such a high failure rate within the first 2 years of opening, it’s no surprise that traditional lenders shy away from lending capital to restaurants.
Anita, Owner of a Restaurant, Falmouth, MA
I needed some help getting through the off season, so I made a call to Andrew, we talked about my needs, and he called me back the next day, and I was funded the day after that!
Priority Funding Solutions isn’t a bank. We want your restaurant to succeed, and our variety of creative lending options can keep your patrons satisfied while giving your business the funds it needs to thrive.
One of the largest investments your restaurant needs is equipment. From walk-in refrigerators to industry-grade stoves, these essential appliances keep your product fresh and ready-to-serve. Equipment financing from Priority Funding Services allows you to create a custom payment program to acquire the new or used equipment that your restaurant needs. If you already own equipment and need additional funding, a collateralized loan can provide up to half of your equipment’s value as working capital.
Working capital loans and Merchant Cash Advances can also help cover other costs of your day-to-day operations. In less than two days, an approved applicant can secure between $5,000 and $500,000 from Priority Funding Solutions. We can also work with poor credit and determine a variety of ways to get you the money you need with payment schedules that fit your needs.
Priority Funding Solutions prides itself in providing prompt, personalized service. Our representatives are available to speak seven days a week by email, phone, or chat. Submit an inquiry or give us a call today!