Pubs and restaurants benefit from merchant terminal loans

More and more restaurants and pubs are taking advantage of merchant cash advances available to them because the majority of customers use either debit or credit cards to settle the bill.

Merchant terminal loans are advances which can help small firms to access much-needed cash for business recovery or expansion. The amount of the advance will depend on the business’s monthly debit and credit card sales and can be anything up to 75% of the company’s monthly sales average. An agreed percentage of this lump sum is then recouped from each customer transaction until the advance has been repaid in full.

Merchant terminal loans for the hospitality industry

Many restaurants and pubs can benefit from merchant cash advances as the majority of customers use either debit or credit cards to settle the bill. The amount advanced tends to be fairly high and can usually be repaid relatively quickly. Once approved, the cash can be in the business owner’s bank account within a couple of weeks.

Merchant cash advances for restaurants

Many restaurants benefit from merchant cash advances as the majority of their customers use either debit or credit cards to settle the bill. The amount advanced tends to be fairly high and can usually be repaid relatively quickly. There are plenty of ways to use the money. Some of the most common ways are for:

  • Purchasing new kitchen equipment
  • Redecorating the dining area
  • Restocking the wine cellar
  • Constructing an alfresco dining area
  • Carrying out marketing initiatives to attract new customers

Merchant cash advances for pubs

A number of pubs have also taken advantage of this form of merchant terminal loans. Most pubs take debit and credit cards, and once approved the cash can be in the pub owner’s bank account within a couple of weeks. Pubs may choose to use these funds to:

  • Renovate the pub garden or smoking shelter
  • Buy stock in bulk
  • Pay for new kitchen equipment
  • Extend the bar area
  • Buy new furniture and fittings
  • Hire new staff

How to get a merchant terminal loan

Business recovery specialists,Stewart Hindley & Partners is dedicated to helping businesses, particularly hospitality businesses, expand and prosper. Contact us now for more information about merchant terminal loans.