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RESTAURANT BUSINESS FINANCING

April 12, 2010 9:04 pm Published by Leave your thoughts

To help you with your financing options, take a look at 12 ways to get financing to start a new restaurant.

#1: Investors

Your first option for funding is finding investors to give you the money to open your business

#2: Loans from Friends and Family

If your friends and family are completely on-board with your restaurant concept and helping you succeed, friends and family loans can be helpful.

#3: SBA Loans

The US Small Business Association (SBA) offers loans to new small businesses such as your restaurant.

#4: Bank Loans

Most restaurant owners get financing through a loan from their local bank.

#5: Credit Union Loans

Credit unions are yet another option for financing to start a new restaurant.

#6: Crowd Funding

Another, more modern way to secure financing is through crowd funding and websites like Foodstart.

#7: Your Credit Cards

Credit cards are sometimes used for restaurant financing. If you decide to use this option, be sure that you can pay the money back in the time allotted and that you are amenable to the interest rate.

#8: Savings

The best way to start a restaurant is without going into debt, right?

#9: Home Equity Loan

Another option for financing your restaurant is through a home equity loan and using your home as collateral for your restaurant.

#10: Peer-to-Peer Lending

Another option, peer-to-peer lending, is similar to crowd funding except you will pay an interest rate to your lenders.

#11: Cash Advance

This type of financing is quite expensive, but you can use it. #12:  FIRST DOWN FUNDING : business loans for food industry businesses.  Call us today.

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