Business Financing for Georgia Restaurants
In 2016, restaurants contributed around $800 billion to our economy while employing about 14 million people. Independently-owned restaurants represent a portion of these stats. To get a better idea, in 2015 the food and beverage sales for the top 100 privately owned restaurants was $1.8 billion.
That is great news to privately-held restaurants, but it is also daunting. How do you compete in what is the most volatile industry in the US? Unwavering dedication and hard work are important, but it isn’t enough. One of the key indicators of success is access to working capital.
Greenbox Capital is here to help you! As an alternative lender with an unquestionable goal of strengthening small businesses throughout North America, we offer financing that most small business owners in Georgia simply didn’t know they could get.
Turn Your Future Sales Into An Instant Cash Advance
Did you know that as a restaurant that accepts credit cards, you may be eligible for a fast advance based on future credit card sales? This is called Merchant Cash Advance1 or “credit card receivable funding”, this is one of the easiest and fastest ways to get capital for your restaurant in Georgia. Payback can be either daily or weekly and is completely automated.
Repayment options with our Merchant Cash Advance1 includes out ACH (Automated Clearing House) or split funding through your credit card processor. ACH payments are a fixed amount that can be deducted either daily or weekly from your restaurants bank account. This is ideal for owners who feel safe knowing the amount of the payment in advance. Split funding is where payments sync with a percentage of each credit card sale.
Flexible and Affordable Repayment
If your restaurant experience ups and downs with the seasons, or you just prefer a payment that closely aligns with sales, split funding is for you. Split funding is based on a fixed percentage of credit card sales. This will vary according to the sale, but the percentage is fixed.
Another option may be a small business loan² paid back by way of a set payment amount that is taken daily or weekly from your bank through ACH. Term lengths range from 3 months up to a year.
No matter what you are eligible for, our funding advisors will work with you to ensure that the financing is affordable for you. Most restaurant owners say they don’t even “feel” the payments for both short-term and merchant cash advances. Both are designed to fit seamlessly into daily operations.
Business owners must average $7,500 in revenue for a month for a minimum of three months to qualify for a merchant cash advance, or a small business loan equal to 70% or even 100% of their monthly revenue. We also have credit card receivable funding as well as short-term small business loans to new businesses in operation for a minimum of 6 months. We only need just 3 months of statements, and a low credit won’t hurt you.
Working Capital Puts Your Goals In Reach
An infusion of money will enable you to establish your priorities. As the owner, you are responsible for making the key decisions on the direction of the company; new location, remodel, purchase a franchise, etc. But if you are like other business owners, you are being pulled in multiple directions. Meanwhile you struggle to keep cash flow liquid, which is a fact of life for the majority for restaurants in Georgia.
Getting to the next level requires an infusion of working capital. It is tough, if not impossible to get it from a bank or traditional lender. They reject small businesses because of credit, the nature, or the amount.
Greenbox Capital is unique. We are always backing the little guy. We don’t base our approval on credit and we don’t need collateral, nor do we restrict how you use the money. Unlike most banks, our application process is easy and fast; and you can have anywhere from $5,000 to $250,000 in as little as 24 hours.
Come to Greenbox Capital to fulfill your Georgia restaurant business’s full potential.
- Minimum 6 months of business
- Low credit scores are OK
- No collateral is needed
- Collateral-backed financing is available
- Lump sum funding in as little as 24 hours
- Automatic repayment
- Set or variable payment options
- Zero hidden fees
A business line of credit will provide you the flexibility to draw cash as you need, rather than a lump sum. Renewals with our lines of credit are possible without 50% paid back of the original amount. We also offer special programs such as 3 Stip Business Cash Advance, as well as an Early Pay-Off option. Additionally, ask about a collateral-backed cash advance or our short-term small business loan, if your cash flow doesn’t meet unsecured funding requirements.
¹ Greenbox Capital Merchant Cash Advances may not be available in all regions of the United States or Canada.
² Greenbox Capital Small Business Loans may not be available in all regions of the United States or Canada.
For a free consultation, please complete our application or contact our Merchant Account Service Team.