Restaurant Financing: Business Loan Alternative

Restaurant financing, even for fast food places, may get more difficult in 2009. A new survey conducted by GfK Custom Research found that 82 percent of Americans say that giving up restaurant dining as a way to cope with the recession would be “easy.” Earnings reports from early in the recession showed that diners were changing their choice of establishments from higher priced to lower priced restaurants. Fast food places fared well, even increasing their revenues as diners “downgraded” from their preferred choices. First quarter results for 2009 show yet another change. Even fast food establishments are beginning to suffer. Burger King reported a slim increase in sales of just 1% in the first quarter of 2009, and McDonald’s is estimated to show a decrease in sales of as much as 7%.

As earnings fall, even traditionally “recession-proof” businesses like fast food establishments find it more difficult to get restaurant financing. The Gfk Custom Research survey shows that even low-cost dining establishments aren’t immune to the effects of the recession, and may not be able to weather a long downturn as well as once thought. For these businesses, cash is still king, and a merchant cash advance may provide the business loan alternative these establishments need to make improvements, take advantage of lower labor and materials costs to do needed upgrades or repairs, pay bills or creditors, or do whatever needs to be done.

Rapid Capital Funding offers a business loan alternative that isn’t based on your credit history, your business plan or other factors that a bank will consider when making a business loan. The amount of your merchant cash advance is based on your credit card transaction volume. Ninety five percent of businesses that generate at least $2,500 per month in Visa or MasterCard credit and debit receipts qualify for a business cash advance. If that sounds like your business, you’re probably qualified.

Contact Rapid Capital Funding today and get the restaurant financing you need using a business loan alternative!
Photo Credit: Appaloosa, via Flickr

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