Business Loans For Restaurants
The restaurant trade changes every year. New technology and trends emerge all the time, and different age groups always want different things. Here’s what our current tastes can tell us about the industry. For more of the latest insight into restaurant industry visit our blog here. Discover how businesses can beat the larger chains or learn about some of the experiences restaurant owners may have in the industry.
The UK restaurant trade was worth £20m in 2017 (that’s 4.3% better than 2016).
London doesn’t top the restaurant charts! Coventry, Edinburgh, Sunderland and York were the most profitable cities between 2013 and 2015.
We eat out at restaurants twice a week on average, spending £44-£88.
Under-35s are the audience to advertise to. They visit restaurants more than any other age group
Loans For Restaurants: Everything You Need To Know
Any kind of restaurant could do brilliant things with a small business loan. Loans for restaurants can work for uber-posh fine dining institutions, locally famous bistros, fast casual restaurants, and more. Most importantly, a restaurant loan would suit a business that has big plans. That includes shiny new tableware, more efficient tech, training for your staff, or even just a new colour scheme
What Can I Do With a Restaurant Loan?
What are your main priorities for this year and next? Maybe you want to become a destination for
sustainable ingredients, serve the best burgers in town, or just make all the logistical stuff faster and easier.
Kitchen Equipment
Invest in newer, faster kitchen tech. You’ll be able to introduce new menu items, get dishes out to customers faster, and even cut down on energy costs.
Furniture and redecoration
Style and decor can be just as important as the food you serve. Make it cosy, Instagram-ready, luxurious, modern, industrial – whatever you want!
Stock and ingredients
Style and decor can be just as important as the food you serve. Make it cosy, Instagram-ready, luxurious, modern, industrial – whatever you want!
Fixed and flexible payment options
Want to know exactly what your regular payments will be? Or does the thought of a big monthly payment make it seem too expensive? Flexible repayments can be easier for restaurants to manage because they change as your business earns more or less.
If Christmas means jam-packed parties and bookings, but January and February are slow, flexible finance will mean you repay less during those quiet periods and more when you’re busy.
Restaurant in a hurry? Get fast finance
Already chosen the new chairs and tables? Capify can usually get your cash within days of applying, so you can get going as soon as possible. We keep the process simple and easy. It’s done mainly over the phone with the same person throughout. You can ask them as many questions as you want, and they’ll keep you in the loop from that first chat to getting your cash. Easy peasy!
Capify’s qualifying criteria
To qualify for business finance from Capify, you need to:
- Be a Limited Company based in the UK
- Have a trading history over 12 months
- Have a minimum monthly turnover of £10,000
Tick all of the boxes? Why not apply today and find out how much you can raise.
Do you want to pay your business loan off ASAP, or are you okay to repay over a few months or even years? Just like flexible and fixed payments, this all depends on how seasonal your restaurant is too. With a short term loan, you could get the repayments out of the way during the busiest months of the year, and keep the slower weeks as debt-free as you can.
Capify’s small business loan can work for restaurant businesses with all kinds of credit profiles. It’s difficult to be perfectly on time all the time, but it is easy to find out if you’ll be eligible for a loan from Capify. Get in touch to find out how much you could raise with a restaurant loan.
