Managing a successful restaurant means monitoring a lot of moving parts, including chefs, wait staff, daily specials — and your equipment.
And there’s good news: Restaurant consultant David Kincheloe notes that it’s often easier to qualify for restaurant equipment financing than other types of financing because the transaction produces collateral. When you finance an oven, you can use that oven to secure your loan.
Here are recommendations for restaurant equipment financing.
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Here are 3 options for you
Max Loan Amount
Min. Credit Score
Est. APR
5.50-8.00%
Depending on your creditworthiness and your business’s financials
7(a) program participants include specialized lenders like Live Oak Bank and big-name traditional banks like Wells Fargo.
Lowest interest rate
OnDeck – Online term loan
Max Loan Amount
Min. Credit Score
Est. APR
9.00-99.00%
Depending on your creditworthiness and your business’s financials
OnDeck offers a fast term loan for small-business owners with less-than-stellar credit who want to expand.
May fund quickly
Funding Circle – Online term loan
Max Loan Amount
Min. Credit Score
Est. APR
10.13-36.00%
Depending on your creditworthiness and your business’s financials
Funding Circle is an option for established businesses that are financing an expansion or refinancing debt.
May fund quickly
If you’ve been in business for 1+ years
If you’ve been in business for 2+ years
Find and compare the best small-business loans
Last updated on September 20, 2021
To recap our selections…
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