Pop up restaurants and boutique cafes are on the rise thanks to trendy, small business restaurants becoming more popular among consumers. Whether it’s upscale dining or farm-to-table eating, more and more people are starting seeking a restaurant business loan to finance their culinary concept.

The trouble is, banks often times see these start ups as “too risky,” so it can be difficult to get pre-approved for such loans. Especially if you trying to get a loan with bad credit or no credit. Even if you get pre-approved for a restaurant business loan, it can take a lot of time and paperwork to go through.

Here at Brass Financial Group, however, we make it easy to get a loan, even with no credit. We also promise to work quickly so you can get started on your project right away—we know nobody wants to wait to start their dream job! With Brass Financial Group, you could get a loan in two weeks or less after your application is approved.

What Expenses Should I Consider When Applying for A Restaurant Business Loan?

So how much does it cost to open a restaurant? The answer is different for everyone depending on the size and scope of your restaurant project. However, there are some universal costs that every restaurateur must consider:

Commercial Lease: Even if you’re thinking about a catering service and not a traditional restaurant space, you’ll likely still need to lease a commercial space and factor your monthly rent into your expenses.

Restaurant Renovations: Once you’ve got your space, the next step is to get it looking like how you want it! Restaurant business loans can be used toward remodeling and renovating.

Equipment & Food Stock: In addition to the actual food you’ll need to feed your customers, you’ll also need tables, chairs, napkins, utensils, plates, and everything else that makes the space comfortable!

Insurance For Your Restaurant: If people are coming to your space to order or enjoy a meal, you’ll need insurance to protect yourself against several things: property damage, equipment damage, premises liability, crime and workers’ compensation.

Food & Liquor Licenses: Restaurant business loans can help cover the cost of any license you many need to get your food establishment up and running.

Benefits & Wages: Wages for your employees and benefits will all need to be considered, as well as any safe food handling certifications or trainings for your kitchen staff.

Marketing Costs: Websites, print collateral or any other marketing campaigns you wish to do can require a small, but still substantial investment.

To discuss your options for a restaurant business loan, you can give us a call at 609-837-3040 or easily apply online. We’ve been in the banking industry for over 25 years, and we’ve funded over a billion dollars to small business loans to business owners just like you!

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