Restaurant cash advance ? Giving a boost to your business plan

Thriving restaurant business has pumped an energetic blow to the heart of financial sector. However, the banks are still very rigid and hardly want to grant loans to the small restaurants. So, the crisis is not yet over for the restaurant industry because finance crunch is there due to unavailability of sufficient fund to suffice the needs. The big eateries and hotels are exceptions; they get almost on demand due to their goodwill in the market.

There are several non-traditional financial houses to offer loans to the small businesses. However, only a few of them specialize in restaurant funding. Restaurant cash advance makes an automatic mention in this regard. It is actually not a loan but a special type of grant aimed to serve the same purpose as the business loans. Lesser paperwork is required on part of the borrowers to obtain advance. Often obligations like producing a guarantor or collaterals create obstacles on the way to get loans. These requirements are completely eliminated in case of restaurant advance.

Commercial banks have always been indifferent to the financial penury and predicament of the restaurants and other retail units. The banks consider that these businesses are highly prone to instability and in that case, will evade the bank loans. They are less likely want to invest into these businesses. Being turned down by the banks, the restaurants seek for other options like business cash advance that is easily and fast granted. Many a company has sprouted to extend helping hand in this regard. Merchantcashgroup.com has been operating for a good length of time. On strength of its top-notch performance, it has earned both name and fame for itself.

The company is renowned for its speedy processing, fast cash approval and transparency in service from beginning to end. The maximum time for loan approval is two working days. Online form filling facility is also available, thereby benefitting the tech-savvy users. The company considers only the presumed credit card transaction instead of focusing on credit card history of an individual. Merchantcashgroup.com accepts the high-risk businesses such as the start-ups or those with very poor credit background. Due to very little requirements of financial documents, the company can do faster loan processing and also deliver it to an individual?s personal account.

Restaurant cash advance is far different from the general purpose business loan. The former is unsecured loan whereas the later refers to secured funding. Unsecured lending carries higher risk and so the interest rate is little more than that for traditional lending. In absence of any hard and fast rule, the restaurant owners can utilize the loan for a variety of business purposes like purchasing a new set-up or expanding the existing one or modifying the old eatery etc. Payment is non-fixed type and changes according to the ebb and flow of credit card sale.

Source: http://www.economicburn.com/restaurant-cash-advance-giving-a-boost-to-your-business-plan/

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