Working Capital Loans for Full-Service Restaurants
Here at VIP Capital Funding we have assisted over 100 different restaurants before, during, and after Covid-19. We have helped and assisted with various types of loans for restaurants including short term merchant cash advance, Real Estate Backed Collateral Loan, Paycheck Protection Program (PPP), and Economic Injury Disaster Loans (EIDL). We are the go-to lender for restaurants if you need anywhere from $5,000-$500,000. Many restaurants take advantage of the different types of loans to purchase industrial ovens, equipment, invest in marketing, or even have extra cash on hand. As the old cliche goes, working capital is the lifeblood of any business, and a restaurant is a prime example of this as cash flow transactions flow in and out constantly, especially how busy Jim’s Pizzeria is. A good example of how beneficial our loan products were for Jim from Italian Pizzeria in North Carolina, was when one year prior to Covid-19 we were able to assist him quickly with a short term merchant cash advance for $20,000 to assist with purchasing a new oven and invest in additional advertising and within 3 months he was able to use the cash to make an extra $30,000 after paying the loan off. The over purchase he made was based on the demand for these customers, without the funds, we helped to injection his business it would have been extremely difficult for him to handle accounts receivable and payroll. Fast Forward to Covid-19 and we were able to assist Jim with $65,000 for the PPP loan to help pay his employees through the tough times and shortly after we were able to assist Jim with an additional $150,000 through the EIDL program. With the capital that we helped deploy for him, it gave him enough time to strategize and adjust. He went to partner with contact delivery services such as Postmates, Doordash, and Grubhub.
Surprisingly enough his monthly revenue increased during these times and he will continue using these services post covid. With the federal and investor capital received he has been able to operate his restaurant successfully as supply and demand have picked up dramatically. Other local eateries have followed suit as well and have received prosperous results Apart from the financial aspects of the way the business has run, sanitation measures have been tip-top there are hand sanitizer dispensers on just about every corner of the restaurant, and everyone is wearing protectively masked up to standard to standard to again COVID-19, this leaves customers at ease at Jim’s Italian’s Pizzeria. VIP Capital Funding is always there for him in the finance department as our people are personable dedicated and highly talented across 700+ industries.