Business Loans for Restaurants

A quick business funding process that offers same day business loans for restaurant owners.
  • Get up to $1M funded the same day
  • Flexible terms from 6 months to 3 years
  • Competitive rates on all loan programs
  • Minimal documentation required
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Business Loans for Restaurants

Compare Restaurant Loan Options

Global Pacific Advisors has been securing small business loans for restaurant business owners for twenty years. We offer competitive rates and fast and easy loan process that can get you capital as fast as the same day. We are second to few companies in experience and have been a trusted lender for two decades. If you are looking to improve or expand your restaurant, or you need immediate business funding to cover payroll costs or other everyday operating expenses, we offer flexible terms for all types of borrowers. We are a great resource for existing restaurant owners that do not qualify for bank business loans or SBA loans, or if those traditional options have been exhausted.

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Business Loans Debt Consolidation

What Do I Need to Qualify?

Below is a list of the requirements to get approved for business funding with our most basic program.

  • Business Bank Account
  • 4 Months of Bank Statements
  • Average 10K Monthly Revenue
  • Positive Bank Balance
Business Loans Debt Consolidation

How Do I Apply?

Applying has never been easier. You can either call our toll-free number 24 hours 7 days a week at

877-874-1685 OR

Submit your online application by clicking apply below and entering a few basic details about your business.

The Best Business Loans for Restaurants in 2024

 

Short Term Business Loans

This is a short term small business loan that you can use for any type of expense. You can use it to cover seasonal swings in business, pay a new chef, or open an entirely new location. Whatever you need for your business, these simple term business loans will help you get it.

We offer up to $1,000,000 in funds for restaurant owners. And with interest rates starting from 9%, you can get a better deal than you would with some traditional lenders. As long as you’ve been in business for two months, earn $8,000 or more per month, and have a credit score of 500 or more, you can qualify for one of these loans.

Our terms range from 12–36 months, so you can get the amount and terms that work for you.

Unsecured Business Loans

 Traditional lenders often require collateral when they give you a loan, which means you’re putting your business on the line. That’s not a good way to start a financial relationship.

We offer unsecured business loans, so you don’t need to put up any collateral. Because we’re an alternative lender, we’re able to offer this funding service alongside our already great rates. You can feel more comfortable with our business loans knowing that we aren’t about to take your oven or your bar stools if you miss a payment.

Merchant Cash Advance

 We know that  restaurants have a tough time receiving working capital because of the volatility of the industry. If you try to get a loan from a traditional lender, you’ll get denied fast. But we don’t think your industry should disqualify you from getting funding for your restaurant business.

So we offer short term merchant cash advances of up to $1,000,000 to restaurant owners with credit scores above 500. You’ll pay interest  starting from 9% on terms up to 36 months. As long as your restaurant has been open for a few months and you have $8,000 in monthly revenue, you can qualify.

Working Capital Loans

 Restaurants have a lot of day-to-day expenses, and that’s what working capital funding is for. Whether it’s covering payroll, stocking the bar, or taking advantage of a marketing or advertising opportunity, these loans help you with the more mundane expenses of running a restaurant.

Like our term loans, you can get up to $1,000,000 in working capital. You still get the option of terms between 12 and 36 months and interest rates starting from 9%. You’ll need to have two months in business, and at least $10,000 in monthly revenue to qualify. You’ll also need a credit score of 650 or better.

If you meet these qualifications, you can get the funding you need to cover any expense you might come across, from an emergency repair to making sure your freezers are full of food.

Equipment Loans

 These business loans are specifically designed for buying, leasing, or upgrading equipment. Adding cooking equipment or any type of industrial kitchen appliances could cost hundreds of thousands of dollars for a restaurant business. Equipment loans allow you to acquire the much needed equipment at really competitive rates with a longer term duration because the equipment can be collateral and make the loan secured. This makes the loan agreement less risky for the lender.

A business loan for equipment financing is a great way to expand your business if you can’t afford to buy the equipment outright. And because you may be able to avoid any down payment costs, you might be able to save a lot of time and money.

Apply for Same Day Business Loans!

Work with a direct lender and get a business loan as fast as the same day. Global Pacific Advisors offers competitive rates and terms on all it’s funding programs. Apply now with a trusted lender that has been helping business owners secure working capital for two decades.
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Learn More About Restaurant Business Loans

A restaurant business loan is financing that is tailored to meet the working capital needs of restaurant owners. This financing may come in the form of a business cash advance or a short term business loan, or even equipment financing. The funds are generally used for covering day-to-day expenses or managing cash flow but may be used for improving or expanding the business.

Common Uses for Your Restaurant Business Loan


Staff Payroll Costs

The restaurant business can be very volatile, especially with the dramatic price shifts in the current economy. When people tighten their wallets, they do not go out to eat. These times come and go regularly. During those downturns you need to be prepared to pay your employees and having a payroll loan option for these ebbs and flows is almost a must to keep your restaurant open so that it can grow and become successful over time.

 

Supply Chain Bottlenecks

Today everybody understands that supply chain issues can arise for even the most basic needs. Restaurant owners require guaranteed access to menu items that cannot be substituted. For this reason, having working capital to stock up on inventory is a great use for additional funds.

Supply Chain Bottlenecks

Today everybody understands that supply chain issues can arise for even the most basic needs. Restaurant owners require guaranteed access to menu items that cannot be substituted. For this reason, having working capital to stock up on inventory is a great use for additional funds.

State of the Restaurant Industry

The restaurant industry is expected to grow aggressively in 2024 and 2025, with key trends and technological advancements fueling that growth. AI is expected to impact that growth in various ways such as predicting reservations and reducing overstocking. Additionally, many economists are predicting reduced inflation which will allow restaurant operators to achieve healthier profit margins. The growth is not only going to be on the operator side, but there will also be significant changes on the consumer side.
According to a recent report on the state of the restaurant industry, consumer enthusiasm for dining out remains robust, with Americans spending significantly more on food away from home. The trend is underpinned by the insane demand today for delivery and takeout, which are likely to continue to drive industry growth. To stay competitive, restaurants will need to enhance their digital capabilities, and offer more personalized and health-conscious dining experiences. Overall, the restaurant industry in 2024 is set to grow marked by technological innovation, changing consumer preferences, and a more stable economic environment.

Short Term Business Loan FAQ’s

How do I calculate the cost of a restaurant business loan?

There are various types of business loans but you will generally get an interest rate or a factor rate. Interest rates are generally reserved for banks and more traditional loans. Interest rates will require calculations based on the amount of time the loan is for so every option is different. Factor rates are more straightforward cause there is no compounding interest. Take the loan amount and multiply it by the factor rate to get the total repayment amount. As an example, $10,000 borrowed at a 1.2 factor rate repays $12,000. Now just subtract the principal taken, so ($12,000 – $10,000 = $2,000).

Is APR the same as factor rate?

No, they are completely different and should not be used to compare products. Follow the link if you want to manually convert APR from your Factor Rate.

Are the restaurant loans secured?

There is no collateral required on Global Pacific Advisors restaurant loans.

Do you offer startup loans for restaurants?

Global Pacific Advisors requires 3-4 months in business at a minimum. For startups a business credit card or a personal loan would likely be your first option outside of investors.

Do you offer bad credit loans for restaurants?

Global Pacific Advisors has funded applicants with a 500 credit score so yes bad credit options are available if you own a restaurant with a business bank account.

Get Started on Your Small Business Loan

Looking for fast business funding without the hassle? Work with direct lenders for same-day funding! Avoid endless calls. Apply now and get funded as fast as today!

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Business Loans for Restaurants
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