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What Is Restaurant Equipment Financing?
Are you looking to purchase new restaurant equipment but aren’t sure how to finance it? Restaurant equipment financing is a popular option for small business owners looking to secure the funding they need to upgrade their restaurant and keep up with the latest trends in the industry.
At LendThrive, we understand the needs of restaurants and small business owners, and we offer a variety of financing solutions to help you get the funding you need to grow your business.
LendThrive, part of the AVANA Family of Companies, is ready to help your restaurant succeed. We provide low-interest, fixed-rate business loans to small businesses just like yours. You can get up to $150,000 in as fast as 24 hours.
In addition, borrowers who consistently pay on time are incentivized through our Rate Reduction Rewards program, which incrementally lowers your interest rate over the length of the loan. With already low rates, it can’t get any better!Apply Now
Types of Loans for Restaurant Equipment
In order to get the financing you need for your restaurant equipment, you will likely need to choose from one of the following types of loans:
- Term loans: These are lump-sum loans that are repaid over a set period of time. This type of loan is ideal for large purchases such as restaurant equipment.
- Line of credit (LOC): With this type of loan, you only pay interest on the funds that you actually borrow. A line of credit can be a good option if your restaurant needs frequent updates or repairs and you want to save money on interest costs.
When choosing a lender for your restaurant equipment financing, it’s important to carefully consider their rates, terms, and eligibility requirements in order to find the best possible solution for your business.
At LendThrive, we offer competitive rates and flexible terms to help you get the financing you need for your restaurant.
To learn more about our restaurant equipment financing solutions, contact us today!
Restaurant Financing Frequently Asked Questions (FAQs)
Here are some of the most asked questions about restaurant loans.
How much can I borrow with restaurant equipment financing?
The amount that you can borrow will depend on the type of loan that you choose. For example, with a term loan from LendThrive, you may be able to borrow up to $150,000.
What are the qualifications for restaurant equipment financing?
In order to qualify for restaurant equipment financing, you will need to have a strong credit history and a stable business. Certain lenders may also require that you have been in business for a specific amount of time or that your restaurant has a minimum revenue level.
How can I get started with restaurant equipment financing?
The first step to getting restaurant equipment financing is to explore your options and compare different lenders to find the right solution for your business needs. A good place to start is by talking to your accountant, financial advisor, or the experienced staff at LendThrive to determine the best options available.
How do I apply for restaurant loans?
The application process for restaurant equipment financing will vary depending on the lender you choose. At LendThrive, we have a simple and straightforward online application process that can be completed in just a few minutes.
Are there any other benefits associated with restaurant equipment financing?
Some lenders may offer additional benefits such as discounts on purchase orders, cash back incentives, or financing options for restaurant renovations. Explore all of your options in order to find the best possible solution for your business needs.
LendThrive offers low-interest, fixed-rate loans with flexible terms and fast approval times. To learn more about our financing solutions and start the application process, check us out today.
Free Financing Consultation
We are business financing experts and ready to answer all your questions. We can help you in selecting the right options to grow your business.
Contact us today & let us help you get funded within 24 hours.Contact Us