Why banks don't like to lend to restaurants ?
Many restaurants regularly benefit from unsecured small business loan.
For traditional lenders restaurants are considered high risk compared to other types of businesses, and more criterias other than revenue are usually taken in consideration like location, seasons and competition. So getting approved for a traditional loan can depend greatly on the owner’s ability to provide an asset as collateral. If an owner has personal credit that is less than very good, the chances of being approved drop significantly.
Why Lend On Capital love working with restaurants?
With Lend On Capital restaurants are a preferred industry for funding, due to a large number of transactions and predictable cash flow. We are able many times to provide restaurants access to prime offers starting from the first deal.
We offer restaurant owners access to up to $1,000,000 in collateral free funding, RATES AS LOW AS 7% APR and convenient loan structures such as: