One industry that has a bum rap in the eyes of bank underwriters everywhere is the restaurant industry.  Restauranteurs have a particularly hard time getting business loans.  Restaurants have a very high turnover rate, especially in the first 2 years of operation.  As a result, most banks require that restaurant loan applicants have at least 3 years under their belt.  Another reason for the close scrutiny is that many restaurants bring in a lot of revenue from cash transactions, and restaurant owners usually prefer to spend cash before having to deposit it into a checking account for tax purposes.  This makes it difficult for bank underwriters to verify sales and revenue figures, since neither bank statements nor income tax returns will show much of the cash revenue that is generated.

Restaurant Loans Available

Sure Payment Solutions has a number of different business funding programs specifically designed for the restaurant industry.  Our approval rates are very high for restaurants thanks to our unsecured business loans and our merchant loan programs.  Regardless of your time in business or personal credit history, there’s a good chance that we’ll be able to approve you for funding, but the only way to know for sure is to fill out an application or call us to speak with an account representative.  Call now!