Owning a Restaurant
Many restaurant owners often feel like they’re in a constant race against competition and therefore improving the look and feel of their premises, ingredients, and kitchen equipment becomes necessary to stay ahead. However, all of these things come at a cost and sometimes business owners don’t have the money to spare. That’s where Capify comes in.
The Benefits of Alternative Finance
Alternative Business Finance is a fantastic way to raise money. Unlike the banks, it is easier to acquire and generally a very quick process from application through to funding. There’s lots of different products available and all of them have been built to make repayments simple for business owners. Applying for alternative business finance is also really easy and hassle free meaning restaurant owners don’t have to spend hours trying to fill out piles of paperwork.
Restaurant owners who want to raise business finance often go straight to their banks. That’s because they don’t know that there are so many other options available. Unfortunately, since the financial crisis in 2008, the banks have really tightened up their lending, making it difficult for business owners to get the funding they need. The criteria is now very strict and businesses are expected to have a strong credit score and trading history. Traditional business loans aren’t very flexible either because they typically have to be repaid on a monthly basis, this can be stressful for restaurant owners as they have to think about saving on top of everything else which they deal with each day.
What would you use the money for?
Restaurant owners who are interested in raising business finance might want the money for a number of different things. Most commonly, people come to Capify because they want to purchase new stock ready for busy times of the year. Lots of people also want money so that they can refurbish their premises, maybe by adding an outdoor seating area for the Summer months or buying new tables and chairs for their guests to enjoy their meal on. If you have any ambitious or simply necessary plans that you want to carry out at your restaurant, we could help.
Raise £3,500 – £500,000 with Capify
Capify offers two innovative business finance products, The Merchant Cash Advance and the Business Loan. Both work really well for restaurant owners who are in need of funds to grow their business. Unlike the banks, our application process is quick and simple and once a business owner has been approved the money will be in their account within days.
The Merchant Cash Advance
If you accept credit and debit card payments from your customers then the Merchant Cash Advance could be the perfect way to raise business finance. The product is extremely flexible and works in line with your card sales. This means that you never have to struggle to pay back more than you can afford. Many restaurant owners go down this route because they take regular card payments from their customers.
In order to repay the advance, Capify will take a very small pre-agreed percentage of your card payments every working day. Therefore, if you have a slow day you repay less and on a busy day you repay slightly more.
The Business Loan
The Business Loan is different to others on the market because rather than paying back the money monthly, owners pay back a very small amount every day. Many people love this method because they don’t have to worry about saving for a fixed date. If you own a Limited Company, this could be the perfect business finance solution for you.
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