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MCA or BCA for Food Service Industry or Restaurant Expansions


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Is Merchant Cash Advance the right alternative for my Restaurant business

Feeding and eating are two of the biggest passions of humankind. There are those who love to eat at new places, try out new cuisines and new restaurants while others love to cook and feed. The passion for food often finds an outlet in the form of restaurants, eateries, cafés and food vans.

In fact owning a restaurant is the ultimate American dream; you can truly be the master of your own fate. But starting a restaurant is not joke; it is not easy, simple or cheap. A common mistake many people new to the field do is to opt for a SBA loan and burn their savings. A restaurant whose working capital diminished before it makes any profit is doomed. You will need liquid cash to handle a lot of operations on a day-to-day basis.

Restaurants often come in the high-risk category and hence procuring traditional bank loans to start or renovate a restaurant is not easy. Unsecured business loans are the only option left to you to stay in the race; to survive you must upgrade your facilities, increase the staff, innovate, employ chefs and procure goods that are of good quality and yet reasonably priced. Many restaurants buckle under the financial strain and shut down.

Merchant Cash Advance to the rescue
Sinceacquiring atraditional bank loan is complicated, lengthy and uncertain several startup restaurants and even existing ones in search of more finance are turning to alternative funding solutions.There are some who opt for small business loans but then not all kinds of funding are suitable for all businesses. Merchant cash advance is one popular bank loan alternative that will help you overcome the financial hurdles in your way.

Technically, MCA is not a loan but an advance on the regular funds that the business receives either through credit card payments. Thus, it is just an advance on the future revenue generated by credit cards. Any startup or business can apply for this and have cash deposited in a very short span of time directly into their account.

The BCA provider will determine a business’ worth based on the credit card receipts and decide if the business will be able to repay the advance. The interest rates are higher than other unsecured loans but you will receive cash immediately.

Why is it the right choice?

  • Funding is quick and fast and you will receive the amount in your bank account

  • No collateral required unlike bank loans

  • Bad credit and merchants with bad credits and high NSF( Not Sufficient Funding) qualify

  • Flexible repayment schedule suits the seasonal fluctuations that the food industry faces all the time

  • No need for too much of legal documentation just credit card sales records of the past few months will suffice.

  • Even tax lien and bankruptcy cases do not get rejected.



How will extra funding help a restaurant

There are approximately over 700,000 restaurants in the USA and each one, yes even the best ones need constant funding to keep updating their kitchen, repairing equipment and revamping the look. The small café or deli frequented by office crowd might wither away because of construction. There are several reasons restaurants are in constant need of funds which sadly the banks will not lend.

Some of the ways extra funding will help your business are:

  • To accommodate your growing clientele you must expand and even open a new franchise in a new locality. Extra funding will help you choose a prime location with better business prospects.

  • A refurbished and revamped and chic looking restaurant will woo more customers than a rundown one. Hence use funds to renovate and remodel the interiors and exteriors

  • Hire more experienced and skilled chefs and staff and print a new menu with new dishes

  • Invest in advertising and organizing promotional events

  • Continue to pay rental, staff salaries and other overheads in dull periods

  • Invest in high-endand energy efficient dishwashers, refrigerators and water heaters

  • Replacing poorly functioning ovens, frying pans etc

  • Repairing the walk-in pantry and improving the storage conditions for all provisions and groceries

  • Purchasing good quality silverware, cutlery, and glassware

  • Extra funds are useful for building a website that is mobile friendly and also for creating a customer app.

  • Keeping up with the times you must upgrade your bookkeeping and inventory methods

  • Purchasing new uniform for staff.

These are just a few of the many improvements you can make to your restaurant to give it a new look and bring in profits.

Final words

Our loyal clientele is atestimony to our reliability and dependability in the alternate funding solutions market. Our customers come back to us whenever they need working capital for short term and long term needs. Irrespective of the size of your restaurant and the type- upscale, casual, fast food joint, family diner, deli or a café and even bars and clubs - you can approach us for all your financial needs. Our able and friendly managers will guide you and quell all your queries about merchant cash advance loan terms, factor rates and interest rates.





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Citi Wide Merchant Funding

194 B Park Ave
Amityville, NY 11701



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