Connecting hospitality operators with dedicated industry suppliers and specialists
Restaurant Business Loans
Sourcing restaurant business loans at competitive rates for your enterprise
Source your Funding
Our finance partner will help source you the best possible restaurant business loan to help secure you the immediate capital you require.
Partnered with Mill Wood Finance
Mill Wood Finance are our dedicated finance partner, helping secure restaurant loans for UK and global businesses. Experience a bespoke service tailored to your requirements and ambitions.
Restaurant Business Loans from a Trusted Finance Partner
We've partnered with Mill Wood Finance, a finance brokerage with over 25 years experience, to connect you with a trusted member of their finance team for a fast and seamless restaurant business loan solution
Save the time and hassle of searching for finance providers and allow us to connect you with our trusted supplier for a faster and more competitive restaurant loan. With over 200+ successful projects and £100m+ in financial funding secured, Mill Wood Finance are the ideal service provider for your business.
Benefits of securing a Loan for your Restaurant Business
Much like running a restaurant is multi-faceted, the same can be said for the numerous upsides that can be elicited from your business receiving a restaurant loan.
1. Quick Access to Funds
Overcome any large upfront costs which could be related to premises, equipment or staffing. Fast access to a large loan will help your restaurant remove these potential barriers and place the business in a good position for growth and the comfortable absorption of future costs.
2. Cash Flow Management
A challenging aspect to running any business within the hospitality sector. Overcome seasonal dips or rising costs like food inflation and staff wages with the cushion of a financial loan.
3. Growth Opportunities
Achieve your goals and growth targets at a faster rate than previously possible. We find restaurant owners often use this cash injection as a chance to scale the business through solidifying proven aspects of their existing service or adding new strands for success.
4. Upgrading Equipment
Modern kitchen equipment is always advancing and new releases or those perfect for your setup can help cut costs through their function but also enhance service speed to leave your customers happier than ever.
5. Boost Marketing Outreach
If the in-house foundations are in place then you can use your restaurant loan to bring more faces through the door with a greater outreach through all the necessary marketing channels.
6. Tax Benefits
Generally speaking, if you can provide proof the restaurant loan was used solely for your business then the interest on the payment will be 100% tax deductible.
Several Types of Business Loans for Restaurants are Available
Our partners at Mill Wood Finance know each business is different and will require a unique financial solution that is perfectly tailored to your circumstances. All possible loans will be considered and explored, including:
Our team of partners will provide you with transparent communication along each step of the way so you are fully informed and aware of the financial options available.
Eligibility Criteria
Each lender will have their own unique set of criteria in order for the threshold to be met to authorise a business loan for your restaurant. Typically, restaurant owners will need to meet the following eligibility criteria
1. Cash Flow/Revenue
Show proof of your income and expenses, and that the business does not face any severe impending financial risk.
2. Business Plan
Lenders will want proof of repayment ability and central to this is an exciting yet realistic restaurant business plan with revenue projections, cash flow management, plans for growth and much more.
3. Trading History
This tends to be shown across 6-24 months of operation to showcase stability, growth or any possible pitfalls during seasonal periods. Startups will require a stronger business plan given they will not be able to show any evidence of trading history.
4. Credit Score
Personal/business scores of 650+ for banks; 500+ for alternative lenders. If you do have a bad credit score, do not panic because loan options will still be available to you but at higher rates. The better your score, the better terms you will be able to agree with the lender.
5. Collateral or Guarantee
A secured business loan will need assets to reduce the lender’s risk (e.g. property or equipment); unsecured may require a personal guarantee to hold the individual responsible if the business falls short of its obligations.
6. UK Registration
For UK-registered businesses, full compliance must be in place to meet the local registrations. If your restaurant is based and operates outside of the United Kingdom, please get in touch so our team can help sort a viable solution.
Lots of factors are in play when it comes to securing restaurant business loans, but rest assured that our team here at Find a Restaurant and the expert consultants we work closely with will take care of matters to secure you the best possible deal.
Get in touch so we can help source you a restaurant business loan tailored to your ambitions
We would love to hear from you and help source you a member of the Mill Wood Finance team for a premium service. Contact our email below or fill out the adjacent form.