Business Loan Restuarant
At CRS we offer business loans for restaurant start ups or for cash flow for your operating restaurant. Because CRS is unique from traditional financial institutions and is able to offer fast small business loans promptly. Our approach to offering business loans for the restaurant industry, either new or existing is largely more flexible than that of traditional financial institutions. At CRS we take into account the type of business you are operating, as well as the intended purposes of the applies funds, in some cases we do look at the credit history of the establishment and perhaps that of the owners of the restaurant. However, we are not as rigid and inflexible when it comes to granting business loans to restaurant owners. CRS approaches such applications with flexibility and tend not to be as rigid when reviewing past credit histories.

On submitting your business loan application for a restaurant, either new or existing, we take into account whether previous credit problems can be defeated and we look at the current strength of your establishment as well as business trends. CRS is not a lender and we work off a principle of buying future sales of your restaurant, which is often referred to as “future receivables”.

By extending you a business loan with the purpose of starting up or financing an existing restaurant and working on the principle of future receivable, CRS thereby purchases Visa and MasterCard sales from your restaurant. When CRS buys the Visa and MasterCard sales from your restaurant, CRS deducts scheduled payments from the Visa and MasterCard sales. In this way there are no monthly billing statement, no invoices and no payment coupons for your busy restaurant to review. The transactions as well as repayments are done automatically and therefore allowing your restaurant to operate without the added hassle of writing out checks or worrying about monthly bills.

The minimum amount which may be applied for through a business loan for a restaurant is $5,000 while the maximum amount is $200 000. The amount that CRS will fund your restaurant is dependant upon the average monthly Visa and MasterCard sales for your restaurant. The funding amount is determined by the strength as well as creditworthiness of your restaurant.

Once your business loan for your restaurant has been implemented, CRS will calculate a daily payment amount required. CRS determines the original purchase price, total amount to be purchased and estimated payment period, in order to calculate the amount of daily Visa and MasterCard sales to be deducted for repayment to CRS. Once your restaurant if funded, these calculated deductions are done automatically from the daily Visa and MasterCard sales.

To quality for a for the business loan for restaurant purposes, a minimum amount of $3000 Visa or MasterCard sales per month are necessary. This required criteria, as well as proof that your restaurant has been established for at least a six month period. However you may be eligible should you have the necessary previous experience in the restaurant industry.

After approval has been granted on your business loan for a restaurant start up, the requested money will be electronically deposited into your banking account. Each time a customer pays with a MasterCard or Visa, a small percentage if set aside, it is with this set aside percentage that goes towards paying off your cash advance. There are no bills, no fuss and no dreaded monthly statements.