Best restaurant business loans from Express Commercial Capital
Discover all of the options for your restaurant financing – from loans to alternate financing options
Expand your dream business with a restaurant loan
Restaurant funding, when you need it
With approval in as few as four hours, your funds can be available as soon as the next day.
Short-term restaurant financing keeps you afloat
Borrow what you need from a business line of credit* to keep business afloat during challenging seasons.
Business loans help you grow into tomorrow
At Express Commercial Capital, our financing experts see your business as an investment. Grow into tomorrow with the right small business loan.
Restaurant cash flow
Whether it’s addressing immediate cash flow needs, funding expansions, or making strategic improvements to help increase your restaurant’s profit margin, the right financing solution can pave the way for your business’s long-term success in the competitive restaurant industry.
Types of restaurant businesses we serve
No matter what type of food or beverage business you operate, Express Commercial Capital has the financing solutions to support your goals. From casual or upscale restaurants to fast food chains, bars, cafes, or even food trucks, our diverse range of funding options ensures you can access the capital you need, when you need it, to keep your business thriving.
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Keep up with customer demand and business growth, all while protecting what you’ve achieved, with funding when you need it. You never have to go through the application process again.
Your funding is ready
- Access revolving credit, once you’re approved
- Lower rates than credit cards
- The funds are there for you as long as you need them
Don’t pay for funding you’re not using
- Withdraw the precise amount you need, as soon as the opportunity arrives
- Never pay interest on unused funds
- No mandatory monthly payments
Business line of credit*
Use your funding the way you need to—follow your business plan, rather than be dictated by strings attached to funds.
Types of restaurant business loans and other financing options*
Working capital loans
Get the capital you need fast
Cover day-to-day expenses, manage payroll during a slow quarter, or handle unexpected costs with a flexible working capital loan. This option is designed for speed and accessibility, making it ideal for immediate operational needs.
Pros of a Working Capital Loan:
- Fast and Simple Process: Get access to funds in as little as 4 hours to solve urgent cash flow gaps for payroll or vendor bills.
- Flexible for Daily Needs: Provides the capital to keep your restaurant running smoothly without the restrictions of traditional loans.
- Accessible Financing: Our review process looks beyond just a credit score, making funding achievable for many business owners, including those with a score over 550.
Merchant cash advances
Leverage future sales for immediate cash
For restaurants with strong daily card sales, a merchant cash advance (MCA) offers a path to extremely fast funding for urgent needs. Instead of a loan, you receive an upfront sum in exchange for a percentage of your future sales.
Pros of a Merchant Cash Advance:
Extremely Fast Funding: With approvals in as few as 2 hours and funding in as little as 4 hours, it’s a solution for true emergencies.
Flexible Remittances: Remittances adjust automatically with your sales volume, easing pressure during slower periods.
High Approval Rates: Ideal for those who may not qualify for traditional loans due to credit history or time in business.
Long-term business loans
Finance your restaurant’s future growth
For major investments like expansion, new locations, or large-scale renovations, a long-term business loan provides the substantial capital you need with a structured, easy-to-manage repayment plan.
Pros of a Long-Term Business Loan:
- Predictable and Stable: Features fixed monthly payments, making it easy to budget and plan your finances without surprises.
- Transparent, Business-Friendly Terms: Designed to be clear and not overly restrictive, so you can focus on growth.
- Supports Major Growth: Provides the larger loan amounts necessary for significant projects that build long-term value.
Restaurant equipment financing
Get new equipment with loans for your restaurant business
New equipment is a necessity to stay ahead of your competitors. Elevate your business with restaurant equipment loans through Express Commercial Capital that helps you get:
- Top of the line machines used in cooking and food preparation, like coffee machines, stoves, ovens, and more.
- Equipment that also acts as the collateral for the duration of the loan.
- A valid business expense eligible for a Section 179 tax deduction.
Grow your business with a restaurant equipment loan
- Get approved equipment loans immediately deposited into your registered bank account.
- Turn a profit with flexible loan terms and affordable repayment rates with help from your new equipment and restaurant loan.
Qualifications and requirements for restaurant loans
Credit score requirements
Generally, you should have a credit score of over 500 when applying for restaurant business financing with Express Commercial Capital.
Financial statements
We’ll need the most recent months of your business banking account bank statements. And for financing or loans for restaurants over $150,000, we’ll need your most recent business tax return.
Collateral
Different financing options may have different requirements for collateral or personal guaranty. Check with your lender before taking financing.
How to apply for a restaurant business loan
Step 1
Pre-qualify online
Head to “Get Started,” fill out the form in just a few minutes, and be on the way to getting the funding you need.
Step 2
Approval in as fast as 4 hours
Get approved for a restaurant loan in as soon as four hours, with the best restaurant financing options available.
Step 3
Receive secure restaurant financing
Funds are deposited into your business bank account.
The advantages and disadvantages of restaurant loans
Obtain assets and finance your operations, accelerating your business growth. Acquire a new property or equipment, or replenish your inventory without financial downtime.
Before asking how to get a business loan for a restaurant, ask if it’s right for you. Our financing experts are always here to help.
Restaurant loans pros
Purchase equipment that would otherwise take longer without a financial boost.
Save money by listing the loan as a business expense qualified for a tax deduction.
Potential to improve your business credit score with consistent loan repayment.
Restaurant loans cons
Repayment independent from the restaurant’s varying revenue.
The utility of restaurant loans for equipment depends on the equipment lifespan.
Inability to pay on time will hurt future prospects for financing and potentially hurt your credit score.
Common pitfalls to avoid when it comes to restaurant financing
When it comes to restaurant financing, avoid selecting a lender that doesn’t align with your specific needs or circumstances. If you require quick access to cash to manage day-to-day expenses, for example, opting for a traditional bank loan with a lengthy application process may lead to missed opportunities and cash flow issues.
Also, be cautious of overestimating or underestimating your funding requirements. Overestimating can result in higher rates and lead to challenges in repayments or remittances. Underestimating your needs may leave you unable to fully fund your restaurant projects, compromising the potential return on investment.
Have a clear understanding of your business’s financial landscape, the purpose of the funds, and realistic projections on how the investment will impact your operations, so you can secure the most suitable financing for your restaurant’s success.
Merchant cash advance
A great financing solution for those with lower credit scores in immediate need of short-term funding.
Long-term loan
Plan for the future with confidence with this long-term loan.
Business lines of credit
The most flexible access to working capital whenever you need it.
All financing options
Don’t see what you need here? Look at all of Express Commercial Capital business financing options.
Ways to expand your restaurant business with restaurant equipment leasing
Upgrade bar or restaurant equipment to stay competitive
In the fast-paced restaurant industry, staying updated with the latest technology and equipment is essential for attracting and retaining customers. Leasing allows you to access modern equipment without the significant upfront costs associated with purchasing.
Renovate an existing location
When a restaurant undergoes renovations, it often requires new equipment to complement the updated design and improve functionality. Restaurant equipment leasing enables you to manage renovation costs more effectively while ensuring you have the necessary tools to operate efficiently once the renovation is complete.
Equipment to expand into new locations
If you’re looking to expand your operations into new locations, leasing equipment can be a smart financial move. It allows for a more flexible approach to acquiring the necessary equipment without tying up significant capital in purchasing outright.
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FAQs about restaurant business loans
What are restaurant business loans?
Restaurant loans provide restaurateurs like you with the necessary capital to manage and grow your establishment.
Express Commercial Capital, for instance, offers an alternative to traditional banks, ensuring that businesses can access funds swiftly through an easy online application.
What are restaurant business loans generally used for?
Restaurant loans can be used for operations and expansion. This includes:
- Purchasing equipment
- Renovating spaces
- Hiring staff
- Buying inventory
- Implementing marketing campaigns
- Expanding to a new location
Restaurant loans also aid in managing cash flow during off-peak seasons.
How can I prepare to get funding for a restaurant?
To secure funding for a restaurant, owners should first understand their financial needs and the purpose of the loan.
Gathering essential documents is crucial. It's also beneficial to maintain a positive credit history and demonstrate a clear revenue stream.
Lastly, researching different financing options and terms ensures that you choose the best fit for your establishment.
What is an example of equipment financing?
If a restaurant owner needs to purchase a high-quality commercial oven, they can use equipment financing to cover the upfront cost. This form of financing allows them to spread the payment over time, reducing immediate financial strain while ensuring that their kitchen is equipped with the necessary equipment to meet customer demands and maintain quality.
What are the current interest rates for equipment loans?
The current interest rate for equipment loans generally ranges between 5% and 15%, depending on factors such as the borrower's creditworthiness, the lender's policies, and the specifics of the equipment being financed. Lenders may offer competitive rates for newer equipment, while rates may be higher for older machines or for borrowers with less favorable credit histories.
What credit score do you need for a restaurant loan?
To qualify for a restaurant loan, most lenders typically require a minimum credit score of around 620 to 650, although some may consider alternative options for borrowers with lower scores. A higher credit score can significantly improve the chances of approval and lead to more favorable loan terms, including lower interest rates. However, lenders will also assess other factors, such as business revenue, debt-to-income ratio, and overall financial stability, when evaluating a restaurant loan application. Online lenders and peer-to-peer (P2P) lenders tend to be a little more flexible when it comes to credit score requirements.
Which are the most popular restaurant financing options?
The most popular restaurant financing options include traditional bank loans, Small Business Administration (SBA) loans, crowdfunding, or loans and alternate financing options from online lenders like Express Commercial Capital. Online lenders offer many options including equipment financing, merchant cash advances, business lines of credit, revenue-based financing and more. Each option has its pros and cons, and restaurant owners should carefully evaluate their specific needs and circumstances to choose the best financing route.
What are the requirements for an SBA loan for a restaurant?
To qualify for an SBA loan for a restaurant, applicants generally need to meet several key requirements: they must operate a for-profit business and be classified as a small business according to SBA standards, typically measured by revenue and employee count.
Additionally, it’s essential to have a solid business plan detailing how the funds will be used, along with financial statements that showcase the restaurant’s operational history and projected revenues. Applicants must have a good credit score, usually in the range of 620 or higher, and demonstrate sufficient cash flow to repay the loan.
Furthermore, personal guarantys and collateral may be required to secure the financing. If you’re considering this route for your restaurant business, Express Commercial Capital
has partners who offer SBA loans.
Accelerate your restaurant’s growth with the right funding
With Express Commercial Capital, get the financial support you need without putting your restaurant on the line. Contact us today and let’s find the best financing option that works for you.
Get started by filling out our online pre-qualification form or calling our financing experts at (888) 664-1444.
Frequently Asked Questions
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