Catering Hall Working Capital Loans

working capital loansCatering Hall Working Capital Loans can help with the mission of catering, serving, and entertaining to the needs of your customers. The catering industry has more than doubled in the past decade and continues to grow at a rapid pace. For the fifth year in a row, catering is projected to be one of the highest growth sectors in food service according to the National Restaurant Association.  Owning a catering hall requires hard work, perseverance, and a commitment to customer satisfaction . Between the demanding competition, high operational costs, and the constantly changing customer demand. Competition for an older more diverse age group of restaurant customers will intensify in the coming years.

Large companies have advantages in offering expanded services such as meal selection, room rental, and entertainment. Small companies compete by serving small groups and offering personalized service.

Click below to see different industries, business strategies, and how to get started.

Catering Working Capital Factors

Catering Hall Working Capital Loans can increase your cash flow to run your business more efficently.  There are many factors that can affect the profitabilty of catering businesses such as food preparation, developing menus, organizing the dining room and staff. The amount and type of equipment will vary with the type of function.  Including dishes, plates, glasses, utensils and table decorations. Business expansions and renovations can be incredibly expensive, and can often cost more than anticipated. Depending on your location, may need separate kitchen facilities that meet state health and safety regulations. You could also need a fire extinguisher system that meets state standards, also a separate water and sewage systems. You will want to make as much of as possible on catering jobs. Working capital funding can contribute greatly to your bottom line.

Catering Hall Small Business Loans

Traditional lenders make it difficult

working capital loansCatering hall working capital loans can enable your business to get the funding when and where you need it most. Traditional lenders require good credit, want to review your resume, a detailed business plan, two years of financial paperwork, collateral, plus they want a detailed plan how the funds are going to be used. The application typically takes 40+ hours to complete. If you are approved it can be a month or longer before you get the capital you need. Rejection rates have been roughly above 80% over the past several years with on SBA loans. If you have any issues the application is denied.

Catering Hall Working Capital Loans – Capital without the hassle

Catering Hall Working Capital LoansThe various types of catering services are essentially helpful to serve the requirements of different events, to  make them successful and truly special. Our application process is different from banks or lenders offering SBA loans. We focus on the actual business performance that can be reviewed with a few months of bank statements. This allows us to be flexible on credit history checks and avoid the unlimited documents connected to your approval. We offer funding from $5000 to $500,000. The actual rate and term is dependent on the performance of the business. The amount capital that can be borrowed is dependent on the monthly deposits. There is very little paperwork involved this is the main reason why the application process is so quick.

Click below to see different industries, business strategies, and how to get started.