Restaurants sometimes have a difficult time getting approved for traditional business loans.
However, PowerUp Lending Group counsels you to not let less than optimal credit scores or a lack of collateral hold you back from making further investments into your restaurant.
We know that, on average, sixty percent of restaurants fail in their first year. From there, it only gets more bleak: eighty percent fail within the first 3 years. Now, the good news. Restaurant ownership isn't just a job. It's a calling to help nourish those around you. With hard work, the right support, and a little luck, your restaurant can thrive.
Continued smart investment into your business assures you the growth you need to accomplish your financial goals.
PowerUp can help.
How?PowerUp’s Merchant Cash Advance is a fast, flexible alternative for businesses with a significant repository of credit card sales.
- Lump sum payment in exchange for a percentage of future sales
- No due dates
- Quick, easy cash even if you have bad credit or no collateral
5 Myths About Restaurant Small Business Loans
Myth #1: If a traditional bank won’t approve my loan, no one will.
Myth #2: : If I don’t have perfect credit, I’m out of luck.
Myth #3: Lenders won’t consider my loan amount because it’s too small.
Myth #4: Small business lenders require that I repay the loan in big chunks, every month.
Myth #5: Business loans take a year and a day to get approved.
For details on these 5 myths and other valuable information on small business loans, download the free eBook Best Borrowing Practices for Businesses.