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Restaurants, Bad and Poor Credit Financing, No Credit Checks, Short Term Business Loans, Working Capital Financing Up To $50,000

By: J.M Luna

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Restaurants with bad and poor finance programs for small business loans are obtainable with easy qualify and working capital financing up to $50,000. This gives the established restaurant small businesses a huge likelihood to obtain short working capital for their business without a personal credit check. This bad and/or poor credit restaurant program with a no credit check isn’t a merchant cash advance or merchant loan. Additionally, it isn’t related to the pay day loan program.

This bad and/or poor credit no credit check short term restaurant small business loan program is put together in the following way. The poor and/or bad credit small business applicant should follow the below guidelines:

1) Maintain at least a $4,000 ending restaurant bank balance business account
2) Deposit at least 10-15 times per month in their business account
3) Be in business at one year and establish the ability to repay back the restaurant loan
4) Have no outstanding large tax liens, delinquent child support issues, not currently in bankruptcy or foreclosure

Documentation Requirements

1) Signed and dated application
2) Provide a photocopy of the detailed restaurant business bank statements for the last four months
3) Copy of the Owners Drivers Licenses
4) A photocopy of the Articles of Incorporation if Applicable
5) Photocopy of a business license, tax id number or any other relevant license

The bank will advance up to 2.5 x the average ending balance on the restaurant business bank account for the last four months up to $50,000. These are business loans and the length of the loan is four months which can be renewed. The loan can substitute a merchant cash advance if it doesn’t go over 40% of the qualified borrowing base. At funding, the financial institution will pay off the merchant cash advance or loan and pay you the difference.

Example, your monthly average ending balance in your business bank account is $20,000 for four months. Your borrowing base would be $20,000 x 2.5 or $50,000. If your current cash merchant advance is $18,000, the financial institution at funding would payoff the merchant first and remit to you the difference for $32,000. Obviously if you didn’t have an outstanding merchant cash advance, this section wouldn’t apply.

The types of businesses that would be enormous for this type of bad and/or poor credit loan would be the following:

Gas stations, restaurants, bars, discos, tanning salons, pizza shops, dry cleaners, doctors, dentists, physicians, lawyers, accountants, Cpas, limousine owners, automobile service centers and body repair shops, dog groomers, florists, beauty and nail shops, distributors, all different types of service providers.

In conclusion, this is a huge likelihood to take a short term bad and/poor credit small restaurant business loan lending in this hard economy. This isn’t a merchant cash advance or loan program which can be quite tedious in its paperwork and processor work qualifications . This fantastic business loan program isn’t credit driven, consequently your Fico Score isn’t an issue.. These small business loans can be renewed every four months if needed by the applicant and gives the business a working capital injection.

Happy hunting for your short term bad and/or poor small restaurant business loan and its related working capital financing.

Article Source: http://depositarticles.com/

J.M Luna has over thirty years experience in the financial field. This includes financing, leasing, business loans,hard asset money loans and commercial lending. U.S Corporate Capital Leasing assists the start up and seasoned businesses for all its restaurant financing needs www.cclgequipmetleasing.com www.cclgequipmentleasing.com/cashadvances.htm

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