For many, opening their own restaurant is a dream. But restaurants are notoriously difficult businesses to open and succeed with, despite the vital role they play in their communities.
Unforeseen circumstances run amok in kitchens and dining rooms, from equipment breaking or becoming outdated to employees quitting for little or no reason at all. High rent and utility costs for desirable locations and uncertain visitor traffic can lead to tenuous futures for restaurant owners around the country. Luckily, Coral Capital Group has the years of experience and know-how to provide funding options to restaurant owners in need of a little help to get through a rough patch or to expand when it is time to take the business to the next level.
Restaurant owners have a variety of funding options at their disposal. Business term loans, restaurant line of credit, and restaurant equipment financing are just a few of the options Coral Capital Group suggests.
Imagine for example that you need to replace an expensive oven or refrigeration setup. Cash flow might not allow for such a large investment. In this case, you might take out Equipment Financing in which your purchase is used as collateral to off-set the cost of the loan. Additionally, many restaurants use Merchant Cash Advances to cover expenses in the short term if business is slow. Payments are spread out and the entirety can be paid back slowly as needed.
Regardless of your circumstance, Coral Capital Group is here to provide the best financial advice and financing options to grow your business.