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The advance cash can often be made available within 14 days, so - for the restaurant business that is in need of a quick injection of funds - this is a good option. Of course, there are restrictions on who can apply. Generally speaking, a restaurant would have to be running for over 1 year, take over $5,000 per month in Visa/Mastercard transactions and have more than 1 year left on their lease to qualify.

For the restaurant that has been in existence more than one year, this represents the best method of further growing your business at minimum professional or personal risk.

COMPANIES PROVIDING RESTAURANT FINANCING

1. There are a number of companies out there offering financing of this kind to restaurants. The main points to watch out for when selecting such a company are as follows :
2. i) Application Fee - Companies charging an application fee should be avoided. To be honest, there isn't much paperwork involved in this process, so an application fee is unnecessary.
3. ii) Closing Costs - Again, companies charging 'closing costs' are best avoided. There are enough companies out there competing for your business.

For the young or established restaurant business, credit card factoring is the most effective way of getting the funds you need to expand your business. So, fund your restaurant using someone else's credit card ! If you are in the restaurant business, you certainly won't need me to tell you how tough it can be financially.

While you are building up the reputation of your establishment, money is often tight and one bad night can mean an unprofitable week. As for cash flow - well, the cash certainly flows, doesn't it? You just wish that more of it was flowing in than out. And what about those slow periods? What do you do if they last longer than you anticipated? How do you get the funds you need to get your restaurant business over that hump.

OK, I'm painting a negative picture here, but funding can be a problem for even the most successful restaurant, especially if you wish to expand quickly. The question remains: what is the best way to get financing for your restaurant?