We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free.
So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners.
Restaurant Loans for Small Businesses in 2023
Online lenders provide restaurant business loans you can use toward small purchases or large investments. Compare your options.
Kim Lowe leads the personal loans editorial team. She joined NerdWallet after 15 years managing content for MSN.com, including travel, health and food. She started her career as a writer for publications that covered the mortgage, supermarket and restaurant industries. Kim earned a bachelor's degree in journalism from the University of Iowa and a Master of Business Administration from the University of Washington.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Though the cadence of a busy kitchen and the sizzle of a hot grill may fuel the excitement of running a restaurant, restaurateurs are familiar with the pitfalls: broken equipment, customer gripes and employee turnover. But the financial requirements, in particular, can be overwhelming, even for the savviest business owners.
That’s why running a restaurant often requires funding, whether from investors, business credit cards or small-business loans. Compare these options for restaurant financing.
How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
SBA loans: These government-backed loans provide the lowest rates among small-business financing and the longest repayment period. SBA loans are best for expansion or large expenses. To qualify, you need strong personal and business finances.
Working capital loans: These loans typically provide short-term financing to help run your day-to-day restaurant operations. Online lenders can providing working capital loans quickly and often have less stringent qualifications than banks.
Equipment financing: If you're looking to purchase large items like an oven or dishwasher, you can turn to restaurant equipment financing. This type of financing can be easier to qualify for than a traditional small-business loan because the equipment serves as collateral.
Inventory financing: You can turn to this funding option to buy food for your restaurant. Inventory financing can come in the form of a term loan or a business line of credit.
Business credit cards: You can use business credit cards to fund your small restaurant purchases. Though your line of credit may be lower than you’d get with a loan, it’s a solid option for recurring expenses, and you’ll be able to earn rewards, such as cash back, on your purchases. If you have strong credit, a business credit card can offer competitive APR between 12% and 22%.
Compare more small-business loan options
NerdWallet has created a round-up of small-business loans to meet your needs and goals. We gauged factors including lender trustworthiness, market scope and customer experience, and arranged the lenders by categories that include your revenue and how long you’ve been in business.
