Business Financing For Restaurants In Ohio

Restaurants contributed around $800,000,000,000 to our economy in 2016 and employed about 14,000,000 people the previous year. Independently-owned restaurants represent a portion of these immense statistics. To get a better idea, beverage and food sales in 2015 for the country’s top 100 independently owned restaurants was around $1.8 billion.

That’s welcoming news to all privately-owned restaurants, but it is also daunting. How do you compete in what is considered to be the most volatile industry in the US? Hard work and unwavering dedication are important, but it just isn’t enough. One of the key indicators of success is access to working capital.

Greenbox Capital is here to help. As an alternative lender with an unwavering goal of strengthening small business throughout the US, Canada, and Puerto Rico, we offer financing that most small business owners in Ohio simply didn’t know they could get.

Turn Your Future Sales Into Instant Cash

Did you know that as a restaurant that processes credit cards, you can be eligible for a quick cash advance based on your future credit card receipts? This is called Merchant Cash Advance1 or “credit card receivable funding”, this is a type of business financing and is one of the easiest and fastest ways to get capital for your Ohio restaurant. Payback is daily or weekly, your decision, and is fully automated.

Repayment options for Merchant Cash Advances1 include our Automated Clearing House, or split funding though your credit card processor. ACH payments are a set, fixed amount that is deducted either daily or weekly from your business bank account. These are ideal for the business owner who feels safe and secure knowing the amount of the payment in advance. The other method is split funding, which syncs the payment amount with your credit card receipts..

Affordable and Flexible Repayment

If your restaurant is located in a large tourist area and experiences ups and down with seasons, or you simply prefer a payment schedule that closely aligned with sales, split funding is for you. A split funding payment schedule is based on a fixed percentage of credit card sales. This will vary according to sales, but the percentage is fixed and agreed upon in advance.

Another option for restaurants may be a small business loan² paid back via set payment amounts automatically collected either daily or weekly from your bank account through Automated Clearing House (ACH). Term lengths range from 3 months all the way up to 12 months.

Regardless if you are eligible for a Merchant Cash Advance, or a small business loan, our funding advisors will work with you to ensure that the financing is affordable. Most restaurant owners say they don’t even “feel” the repayments for both short-term loans and the Merchant Cash Advance. Both funding options fit so seamlessly into their everyday business operations.

Generally, business owners that average a minimum of $7,500 in revenue a month for the past three months can qualify for a merchant cash advance, or small business loan equal to 70% or 100% of their monthly revenue. We also offer credit card receivable funding as well as short-term small business loansto new businesses in operation at a minimum of half a year. We only require just 3 months of bank statements, and a low credit score will not result in an automatic rejection! 

Working Capital Puts Your Business Goals Within Reach

How can your Ohio restaurant benefit from working capital small business financing? First, an infusion of money will enable you to establish priorities. As the business owner, you are responsible for making the key decisions on company direction such as whether to open a new location, remodel, or purchase of a franchise. But if you are like other business owners, you are being pulled in several directions. Meanwhile, the struggle to keep cash flow liquid is a central fact of life for the majority of small Ohio businesses.

Achieving the next level, requires an infusion of working capital. It is tough, if not nearly impossible to get from banks or other traditional lenders. Banks reject small businesses either due to the requested amount, credit history, or the very nature of the business.

Greenbox Capital is different. We are always on the side of small businesses. We don’t base our approval solely on credit score and collateral is not a requirement, and we also do not restrict how you use the funds. Also, unlike most banks that can make you wait weeks or even months for a “yes” and have countless amounts of applications and paperwork, applying for working capital with us is as easy and funding is very fast. We provide cash advances from $5,000 all the way to $250,000 which can be in your account in as little as 24 hours.

Come to Greenbox Capital to fulfill your Ohio 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.