Restaurant & Bar Business Loans
Grow your restaurant or manage cash flow with a low-interest loan
- Get up to $5M financed within 24-48 hours
- Interest rates starting at just 6%
- 6-month to 2-year loan term lengths
- Flexible payment options for credit scores over 550
- Both secured and unsecured funding available
Won’t impact your credit
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Easy online application
Dedicated loan concierge
What Are Restaurant Business Loans?
Benefits of Restaurant Loans
Leasing A New Location
Location is the single most important factor in your restaurant’s success. Renting a spot that drives in a flood of restaurant-goers can cost a pretty penny. Configure Capital helps make it a reality.
Hiring And Training New Staff
Use your capital to retain a top-notch chef to refine your menu and train waitstaff to provide an exceptional experience for your diners.
Promotion And Marketing Efforts
Successful restaurants don’t just rely on repeat customers. They continue their marketing efforts to promote the brand, create a social media presence, hire a publicist, and advertise.
Covering Payroll And Operating Expenses
Use the funds however you need for running your business, including purchasing new restaurant equipment, making renovations and building maintenance, investing in POS system upgrades, and creating cash reserves for slow seasons.
No Collateral Required
Retain complete ownership of your restaurant with an unsecured business loan from Configure Capital. No collateral is needed to get funded.
Lowest Interest Rates
Unlike going to a traditional bank, our network of over 75 lenders competes to offer you the lowest APRs in the industry. Whether you have good or bad credit, your loan adviser will work with you to secure the best APR.
Flexible Payment Options
Get repayment terms tailored to your business needs and existing cash flow. We strive to provide best-in-class terms that fit your goals.
Quick Approval and Funding
Get approved online within minutes of applying and money in the bank in as little as one to two business days. Restaurant loans with Configure Capital have the fastest turnaround time in the lending industry.
Consolidate Existing Debt
Many restaurant owners have existing loans with high interest rates. Configure Capital can consolidate your debt to lower interest rates and reduce your monthly payments, saving you money and improving cash flow.
Meet your Configure Capital advisors
We make sure you’re getting the best fast business loan, and set your company up for success. See how it works →
Minimum Requirements
Here are our basic criteria to prequalify for a restaurant business loan. Your Configure Capital loan concierge will help you get funded, even if you have a less-than-optimal credit score.
$10,000+ in Monthly Gross Sales
Your business must generate at least $10K per month in gross sales that get deposited into a business bank account.
500+ Credit Score
You can get approved with any personal credit score. But the better your score, the better loan terms lenders will offer you.
Over 6 Months in Business
Your business should have been in operation for at least six months — the longer, the better. This shows our lenders that you are less likely to default on your loan and continue to thrive.
Have a Business Bank Account
You must have a business bank account where you deposit sales. A personal bank account does not qualify. Configure Capital will need three months of your most recent bank statements as proof of revenue.
Small Businesses ❤️ Configure Capital
Configure Capital got me funding to open a new location
I receive daily solicitations from lenders, but with Configure Capital, I dealt directly with the owners. Unlike other companies, Bryan fulfilled every promise: I was approved in 24 hours and funded in 48, securing better rates and terms than my previous lender.
Amanda
Big thumbs up for Michael at Configure Capital
Emanuel J.
Loan process was fast and easy
Donald F.
6 Best Business Loans for Restaurants and Bars
When you work with Configure Capital, your dedicated lending adviser helps you find business financing that fits your business goals. Having funded over 10,000 food service companies, we believe the following funding options work best for restaurant owners.
1. Business Line of Credit for Restaurants
Benefits of a Business Line of Credit
- A business line of credit provides on-demand funds, available when needs arise.
- You only pay interest on the money you withdraw from the credit line.
- Using this type of credit responsibly can help improve your business credit rating.
- There are typically no prepayment penalties, allowing you to repay early without extra costs.
2. Short-Term Loan for Restaurants
Benefits of Getting a Short-Term Loan
- No collateral is needed to secure the loan.
- The approval process is typically quick and easy, saving you time and effort.
- Loan closing usually occurs within one to two days, providing fast access to funds.
- Credit score requirements are relatively low, though we recommend a score of at least 550.
3. Equipment Loans for Restaurants
Finance up to 100% of kitchen equipment, furniture, ovens, and decor needed to create a successful restaurant. Equipment financing offers competitive interest rates and requires minimal paperwork, so you can get your new equipment quickly.
Benefits of Equipment Loans
- The only collateral needed is the purchased equipment.
- These loans offer competitive rates, with APRs starting as low as 7%.
- The application process requires minimal paperwork, simplifying the experience.
- You can get approved with either good or bad credit scores, making this option widely accessible.
4. SBA Loans for Restaurants
Benefits of SBA Loans
- These loans are partially backed by the Small Business Administration (SBA), reducing lender risk.
- They offer low interest rates, starting at 5.75%, making them an affordable option.
- SBA loans provide flexible repayment terms, ranging from five to 25 years.
5. Working Capital
A working capital loan can be a lifeline for your restaurant business during low-sale seasons. This type of short-term financing works for any practical need, such as filling cash flow gaps and covering operational costs to help your business grow.
Benefits of Working Capital Loans
- The approval process is typically straightforward, making it easier to secure funding.
- Financing is often quick, with funds available within 24-48 hours of approval.
- This option allows you to maintain full ownership of your business, unlike equity financing.
- You can usually deduct the interest paid on these loans from your taxes, offering potential savings.
6. Merchant Cash Advance
While technically not a loan, a merchant cash advance (MCA) can also serve as capital for your restaurant needs. With an MCA, you receive a portion of your future sales upfront for a fee. MCAs have more flexible requirements for borrowers, making it easier for business owners with poor credit to get fast funding.
Benefits of Merchant Cash Advances
- These loans don’t require collateral, reducing your personal financial risk.
- The application process is typically quick, saving you time and effort.
- You can get approved with average or bad credit scores, making this option more accessible.
- Repayment is tied to your sales, which can ease cash flow during slower periods.
Types of Loans for Restaurants
Here are the most common types of financing options that we provide the food industry. Your Configure Capital advisor will walk you through each option that fits your specific needs.
You deserve low rates and an honest lender who has your back.
From our humble beginnings in 2018, we remain committed to helping the American food and drinks industry achieve success. We keep funding simple, convenient and transparent. Read our manifesto →
Compare Restaurant Loan Options
Comparing loan types can help you narrow down options and ensure you get the best deal. Here’s a snapshot comparison of the best restaurant business loans:
| Loan Type | Min. Credit Score | Max. Loan Amount | Term Length | Key Benefits |
|---|---|---|---|---|
| Business Line of Credit | 550 | Varies | — | Revolving credit, only pay interest on withdrawals |
| Short-Term Loan | 550 | $ 5 million | 6-24 months | Lump sum with no collateral required |
| Equipment Loan | 550 | Value of equipment | Varies | High approval rate; equipment is the collateral |
| SBA Loan | 640 | $5 million | 5-25 years | Guaranteed by the SBA up to 85% |
| Working Capital Loan | 500 | $5 million | 6-24 months | Available via any loan type, use for any reason |
| Merchant Cash Advance | 500 | Varies | — | Upfront advance, repay as you earn |
Potential Uses for Food Service Business Loans
In the food industry, having funds for upgrades can set you apart. Whether it’s new seating, better equipment, or growth marketing, the right investments matter. Below is a list of how a small business loan can make a difference for you.
- Food and liquor purchases
- Renovations and remodels
- New location openings
- POS system upgrades
- New kitchen equipment
- Kitchen equipment maintenance
- Payroll and taxes
- Operating expenses
- PPE and sanitation supplies
- Pandemic relief
- Hiring and training of new employees
- Advertising and marketing.
- Managing unanticipated business expenses.
- Debt refinancing
How To Apply for Restaurant Financing
Once you’ve compared lenders and options, the following steps will help you acquire a business loan.
1. Determine Which Loan You Need
You’ll want to determine which type of business loan or financing is a good match for your business goals. Prioritize loans with rates, fees, collateral requirements, and repayment terms that you can meet.
2. Check Your Eligibility
After you know the type of loan you want, make sure you meet their qualifications. Determine your eligibility as a restaurant business following the factors that most influence your loan approval. These include:
- Your restaurant’s time in business
- Annual revenue
- Credit score
A good rule of thumb is to review your personal and business credit score before applying for a loan. This way, you’ll know what lenders see and can ensure they report accurate information.
3. Gather Necessary Documents and Submit Application
Most lenders require the following documents with your loan application:
- Business information (lease, certificate, licenses)
- Financial statements (balance sheets, profit and loss statements)
- Personal and business tax returns
- Restaurant business plan
- Collateral information
Once you have your documents in order, you’re ready to fill out and submit your loan application. It may take weeks or months to hear back from traditional lenders. Fortunately, online lenders like Configure Capital typically approve applications within 12 days and can offer same-day business loans.
Quick Funding to Grow Your Restaurant
When working with Configure Capital for a restaurant business loan, our quick online approval and turnaround time get you funds in 48 hours or less. Our loan advisers work with a network of over 75 lenders to secure you the lowest APR and repayment terms tailored to your business.
Best of all, you don’t need collateral to get funded. You can retain complete ownership of your restaurant with our unsecured business loans.
FAQs About Restaurant and Bar Loans
How Do I Get a Business loan for a new restaurant?
To secure a restaurant business loan, you’ll want to determine which type of financing is a good match for your business goals. After you have an idea of the type of loan you want, you’re ready to take the next steps and determine your eligibility as a new business.
Fill out a loan application online and talk to an adviser to get the process started. We’ve worked with new restaurants and startups to get small business owners the restaurant financing options they need at favorable monthly payments.
How Has the COVID-19 Pandemic Affected Restaurant and Bar Loans?
The pandemic has led to a heightened caution among certain lenders regarding the provision of loans to restaurants and bars. Consequently, many traditional financial institutions may continue to impose stricter approval criteria. In contrast, alternative providers, such as online lenders, typically exhibit more flexible eligibility requirements for loans related to restaurants and bars. We at Configure Capital are prepared to assist you in identifying the most suitable loan options for your specific circumstances.
Is It Hard To Get a Restaurant Loan?
Do I Need Collateral for a Restaurant Loan?
Some loan types require a personal guarantee, but not all. For example, SBA loans typically require collateral. Fortunately, alternative financing options, like unsecured business loans, do not require any security.
Types of Businesses We Fund
Configure Capital provides same-day financing to any food and drinks business located in the United States. Here are just some of them:
- Restaurants
- Bars
- Coffee shops
- Nightclubs
- Fast food
- Franchises
- Vending machine businesses
- Bakery and pastry shops
- Food and beverage manufacturers
- Food trucks and mobile kitchens
- Delicatessens and sandwich shops
- Grocery stores
Ready To Grow Your Restaurant?
Interest rates start at just 6%. Get quick online approval and flexible repayment options for credit scores over 550. The application takes just two minutes.
