By: Emily Klaus | Marketing Associate
The term “business loan” can bring some negative imagery to mind: physically going into a bank, filling out stacks of paperwork by hand, making copies of your tax statements, bank statements, etc. and turning those all in in person, not to mention how lengthy the entire process can be. Sometimes a traditional business loan can take weeks to process before you even have a decision, let alone the money in your account.
In the restaurant industry, this kind of timeline and hassle just won’t work. Restaurant owners heavily rely on their inventory, equipment and employees to keep their small business cooking, so when an oven goes out or there’s suddenly a high demand for a certain dish, you need fast funding to help get your restaurant back on track. This is where a business loan alternative like a merchant cash advance from Jet Capital can come in handy.
Merchant Cash Advance: An Alternative to a Business Loan for Restaurants
A merchant cash advance from Jet Capital is a simple, flexible alternative to a business loan. A small business owner sells a portion of the business’ future revenue to Jet Capital at a discount and the owner will see the advance in his or her business banking account, in some cases, as fast as the next business day!
We know restaurant owners face busy days and often wear multiple hats in just a few hours: janitor for one minute, CFO the next! That’s why a merchant cash advance from Jet Capital is a perfect business loan alternative for any type of business owner. Once advanced, daily remittances based on your average daily revenue are automatically debited from your business banking account until the advance is satisfied, so you don’t have to worry about writing a check or making monthly payments like a traditional business loan!
Your business revenues may grow quickly! We understand that managing costs is imperative to reaching your goals, so there’s no penalty for satisfying your advance early.
How Do I Apply for a Merchant Cash Advance from Jet Capital?
Our application is simple: just three pages that will take you about 10 minutes. This means you’ll be able to get back to managing your business and employees quicker!
Simply apply online at localhost/JC or give us a call at 866-845-9674. We can take applications over the phone Monday through Friday, 8 a.m. - 6 p.m. CST. You can also call us if you have any questions about the application process or product between those hours.
What Are Your Requirements?
While a merchant cash advance from Jet Capital can work for nearly any type of business or industry, there are a few qualifications to note before you submit your application.
Our Boost Merchant Cash Advance product is a perfect funding tool for newer restaurants, who have been in business at least three months and have a monthly revenue of at least $5,000. Eligible businesses could receive between $2,500 and $5,000 in working capital as soon as the same day of application!*
Our Core Merchant Cash Advance Product is for qualified businesses who have been operational for at least nine months and have at least $10,000 in monthly revenues. Small businesses who meet these requirements can qualify for up to $100,000 as soon as the next business day.
There are a couple of other things to note when applying for an alternative to a business loan for a restaurant like a merchant cash advance. Jet Capital is a small business for small business. That means we understand the daily challenges and therefore look at your unique business situation as a whole when evaluating your application, rather than just your credit score. And, if your business does cash or check only sales, you may still be eligible for a merchant cash advance from Jet Capital; no credit card processing required!
If a merchant cash advance from Jet Capital sounds like a great alternative to a business loan for restaurants or nearly any other type of small business, apply online today or give us a call at 866-845-9674.
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