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Business is tough and specially restaurants that come under hospitality business where looks are more important than what you actually serve, that becomes secondary. On many occasions the owners of restaurant have to put up additional inventory just to attract people to dine in.

 

All of this requires finance on a regular basis, be it daily, weekly or at least monthly basis. Whether it is the point of sale that involves billing or the waiters who serve the orders, the two biggest point of contacts the customer has with the restaurant and these points also sometime become the biggest first impression a customer take away with them. Cooking supplies and cooking equipments are also equally important and lack of money at hand should not deter or hamper your restaurant’s proper functioning on a regular basis and thus finance for supplies & daily needs inventory can be acquired from the market while leasing cooking equipments can be an added boon.

 

Opening a restaurant involves a lot of different departments ranging from daily accounts tallying, finance planning for expansion & other daily needs involving inventory, maintenance, cleaning etc, pay scales etc will take a lot of planning. In the absence of such planning it can only add to the stress and may hamper the opening of your much awaited dream.

 

Related: Loan Amortization Schedule – Types & Other Important Terms

 

We would like you take through some requirements which you need to take in mind as restaurant business has somewhat more departments compared to other types of equipment financing as written below for your benefit

 

 source: forwardline.com

  1. Purpose/Amount: The first step you should take while starting any business and specially a restaurant is your need for the loan and the amount you require.

     

  2. Current/Projected Income: You should keep in mind the current and your expected or projected income. These numbers should be realistic.

     

  3. Collateral: It is a sensible thing to keep a collateral as a security for the loan in case of any emergency.

     

  4. Credit Score: For a loan in the range of 30 to 50,000 US$ a low credit score will sail you through a high credit score will make sense if the loan amount is close to a million dollars or more.

     

  5. Know your Options: You should weigh all your options before taking a loan for your restaurant as it will determine how your restaurant business starts.

     

    Also Related: Small Business Loans For Bad Credit

     

 

You should consider Restaurant Equipment Financing and leasing both for your funding needs as both have their unique pros and cons. Written below are some of the funding options generally available for you

 

  1. Ice Machine Leasing and Financing

     

  2. Refrigerator Leasing and Financing

     

  3. Vending Machine Leasing and Financing

     

  4. Bakery Equipment Leasing and Financing

     

  5. Catering Equipment Leasing and Financing

     

  6. Point of Sale Leasing and Financing

     

  7. Freezer Leasing and Financing

     

  8. Restaurant Dishwasher Leasing and Financing

     

  9. Food Preparation Leasing and Financing

     

  10. Restaurant Oven Leasing and Financing

     

  11. Warming Equipment Leasing and Financing

     

  12. Restaurant Booth Leasing and Financing

 

In this if you decide to go for leasing you get the finance available with minimal paperwork, the work will be done quickly and you have a continuous cash flow.

 

Some of the well known companies in Restaurant Equipment Financing sector have been written down for your consideration.

 

  1. Direct Capital

     

  2. Time Payment

     

  3. Acemart Restaurant Supply

     

  4. Balboa Capital

     

  5. Smarter Finance USA

    

 


 

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