Business Line of Credit for Restaurants.
Restaurants operators turn to business line of credit when kitchen equipment, walk-ins, pos systems, and hvac or build-out and renovation of new or existing locations can't wait on a bank timeline. Summit underwrites the sector against time in business, not just two years of clean returns.
Business Line of Credit for restaurants.
Revolving capital for inventory, payroll smoothing, and seasonal gaps. Pay interest only on what you draw.
For restaurants business line of credit placements, expect credit limit of $25K – $500K, apr of 10% – 30%, draw term of 6 – 24 Months. Qualification typically requires time in business 12+ Months and annual revenue $250,000+.
- ◆Kitchen equipment, walk-ins, POS systems, and HVAC
- ◆Build-out and renovation of new or existing locations
- ◆Seasonal payroll and inventory bridges
- ◆Marketing pushes for openings and promotions
What to expect.
Business Line of Credit · Restaurants.
Revolving capital for inventory, payroll smoothing, and seasonal gaps. Pay interest only on what you draw.
Most restaurants business line of credit placements close in 3 – 7 days. Summit's desk routes the file to the lenders most active in this sector.
Last 3 – 6 months of business bank statements. Most recent business tax return. Personal financial statement for owners (20%+).
Initial review is a soft pull. A hard inquiry only happens after you select an offer and proceed to closing.
Get business line of credit for your restaurants operation.
Indicative terms within 24 hours. No hard credit pull.
Begin Pre-Qualification →