For those business enterprises, involved in the food business like a restaurant, it is difficult to obtain small loans from banks or money lenders for the reason , that most money lenders believe that food business have a much higher rate of business failures as compared to other small businesses, therefore the risk of not recovering the leased money is higher. This must not worry restaurant owners who are planning to increase their business or require a new gadget or expansion of space to meet the increased inflow of customers. The solution is Business Loans through a Merchant Account—A Non- Conventional Funding via Small Business Factoring a process which places funds in your hand right away.
For a Loan ,you require an agreement based on your last six months credit card processing statements/bank card gross sales duly verified by your banker supported by your basic documents like firm formation documents or even a driving license. The approval normally takes not more then 24 hours and the required cash is normally in your account within a week.
Reimbursement are normally based on your monthly sales, this removes the worry of meeting the loan installment limit and even in a low sales month you pay as per your sale and you meet your contractual requirement and you never become a defaulter. When you need funds for your business always remember to research on this option and go for the one which suits you the best. It is encouraging to note that as long as you have Bank Card Sales and is supported by Credit Card Processing Statement, it is rest assured that you will get the Cash you need for your business.