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.
Here are 7 restaurant business loans
Lender | NerdWallet Rating▼ | Max loan amount▼ | Min. credit score▼ | Next steps |
---|---|---|---|---|
SBA 7(a) loan with Fundera by NerdWallet | Best for SBA restaurant loans | $5,000,000 | 650 | with Fundera by NerdWallet |
Triton Capital - Equipment financing with Fundera by NerdWallet | 4.0/5 Best for Restaurant equipment loans | $250,000 | 575 | with Fundera by NerdWallet |
Fora Financial - Online term loan with Fundera by NerdWallet | 4.5/5 Best for Restaurant loans for bad credit | $1,500,000 | 570 | with Fundera by NerdWallet |
Bluevine - Line of credit with Fundera by NerdWallet | 5.0/5 Best for Fast restaurant loans | $250,000 | 625 | with Fundera by NerdWallet |
Funding Circle - Online term loan with Fundera by NerdWallet | 4.5/5 Best for Business loans for established restaurants | $500,000 | 660 | with Fundera by NerdWallet |
Fundbox - Line of credit | 5.0/5 Best for Startup restaurant business loans | $150,000 | 600 | |
OnDeck - Online term loan with Fundera by NerdWallet | 5.0/5 Best for Short-term restaurant loans | $250,000 | 625 | with Fundera by NerdWallet |
Here are 7 restaurant business loans
Best for SBA restaurant loans
Best for Restaurant equipment loans
Best for Restaurant loans for bad credit
Best for Fast restaurant loans
Best for Business loans for established restaurants
Best for Startup restaurant business loans
Max Amount
$150,000
Min. Credit Score
600
Best for Short-term restaurant loans
I'M INTERESTED IN:
Our pick for
SBA restaurant loans
SBA 7(a) loan
with Fundera by NerdWallet
Max loan
$5,000,000
Min. Credit score
650
Apr range
11.50-15.00%
with Fundera by NerdWallet
Our pick for
Restaurant equipment loans
Triton Capital - Equipment financing
with Fundera by NerdWallet
Max loan
$250,000
Min. Credit score
575
Apr range
5.99-34.99%
with Fundera by NerdWallet
Our pick for
Restaurant loans for bad credit
Fora Financial - Online term loan
with Fundera by NerdWallet
Max loan
$1,500,000
Min. Credit score
570
with Fundera by NerdWallet
Our pick for
Fast restaurant loans
Bluevine - Line of credit
with Fundera by NerdWallet
Max loan
$250,000
Min. Credit score
625
Apr range
20.00-50.00%
with Fundera by NerdWallet
Our pick for
Business loans for established restaurants
Funding Circle - Online term loan
with Fundera by NerdWallet
Max loan
$500,000
Min. Credit score
660
Apr range
15.22-45.00%
with Fundera by NerdWallet
Our pick for
Startup restaurant business loans
Fundbox - Line of credit
Max loan
$150,000
Min. Credit score
600
Apr range
36.00-99.00%
Our pick for
Short-term restaurant loans
OnDeck - Online term loan
with Fundera by NerdWallet
Max loan
$250,000
Min. Credit score
625
Apr range
27.20-99.90%
with Fundera by NerdWallet
What is a restaurant business loan?
What are restaurant loans used for?
- Opening a new location.
- Remodeling, making repairs or expanding an existing location.
- Covering everyday expenses, such as rent, utilities and software subscriptions.
- Purchasing or upgrading equipment.
- Buying inventory and supplies.
- Paying your employees and/or hiring new workers.
- Managing cash flow gaps during seasonal slows.
- Other working capital needs.
Types of restaurant business loans
Bank loans
Business lines of credit
SBA loans
Online term loans
Asset-based financing
Merchant cash advance
How to get a restaurant loan
1. Decide which type of funding you need
2. Evaluate your business’s qualifications
3. Compare and research lenders
4. Gather documentation and submit your application
- Basic information about you and your business.
- Business and personal bank statements.
- Business and personal tax returns.
- Business financial statements.
- Collateral information.
How to get a restaurant loan to open a business
Find the right business loan
Methodology
Wondering if you qualify?
It’s possible to get a business loan even if you have bad credit. Bad-credit business loans are available from alternative sources, like online or nonprofit lenders.