Tag: Restaurant

Former hotel VP accused of drunkenly slapping teenage Disney World restaurant hostess over dress code snub

A South Carolina man is set to make his first court appearance next month after he was accused of slapping a teenage hostess at a Walt Disney World Resort restaurant three times in the forehead, while under the influence, after she refused to seat him due to the restaurant’s dress code. 

John Munro, 64, of South Carolina, was arrested and charged with battery after an altercation involving him and a 19-year-old hostess at Cítricos inside Disney’s Grand Floridian Resort back in November.

Munro, no stranger to luxury hotels, was the Vice President of Hospitality, Sales, and Marketing at the prestigious Sea Pines Resort in Hilton Head, where he lives.

Karen Moraghan, the spokesperson for the South Carolina property, told Fox News Digital that Munro is no longer employed by The Sea Pines Resort. 

DISNEY SILENT ON ONGOING DRAMA SURROUNDING ESPN HOST PAT MCAFEE, NFL STAR AARON RODGERS AND ABC’S JIMMY KIMMEL

On Thursday, Moraghan confirmed to The Island Packet and Beaufort Gazette that Munro was placed on administrative leave “amid review of this personnel matter.” 

According to the arrest affidavit obtained by Fox 35 Orlando, on Nov. 19, 2023, deputies with the Orange County Sheriff’s Office responded to the resort in reference to a battery. 

A preliminary investigation revealed that just before 7:30 p.m., a restaurant hostess was checking a family in who had a reservation for three. However, the group arrived with four people; two women and two men. 

According to the arrest records, one of the men, identified as Munro, was not dressed in accordance with the restaurant’s dress code. 

DISNEY WORLD EMPLOYEE CHARGED WITH 32 COUNTS OF CHILD PORNOGRAPHY: SHERIFF

He was wearing swim shorts and a T-shirt and Cítricos’ website states that “guests are expected to dress accordingly in attire that respects the restaurant’s sophisticated and upscale aesthetic,” adding explicitly that swimwear isn’t allowed. 

Because Munro was wearing “swimming shorts and a T-shirt,” he was told by the hostess that he would not be allowed to dine with his family, the report stated. Munro seemed to understand but said he’d wait with his group until they were seated. The hostess agreed to his request, but the situation escalated when she took the group to be seated moments later. 

According to deputies, Munro followed the party of three to their table even though he was told he was not allowed to do so. 

WARNING FOR CRUISE PASSENGERS AS SEXUAL ASSAULTS HIT NEW HIGH IN 2023: FBI

“Please don’t allow him to sit with us, he is really drunk, underdressed, it’s my birthday, and I’m embarrassed,” one of the woman told the hostess, according to the affidavit. 

When the hostess told Munro that he couldn’t sit with the group, he “began to repeatedly slap her forehead” three times while stating her name, which he read from the name tag on her shirt, deputies stated.

The hostess sustained no injuries and declined medical treatment, and wished to pursue charges, deputies said. 

DISNEY WORLD BRAWL: DISAGREEMENT BETWEEN FAMILIES OVER PICTURE LEADS TO FIGHT, OFFICIALS SAY

Deputies caught up with Munro, who they said was apparently intoxicated based on his “slurred speech, glossy red eyes, and constant repeating that he was going to sue Disney,” the arrest affidavit said. 

Munro was arrested and released on a $1,000 bond the next morning.

Surveillance video from the restaurant was not available, but prosecutors plan to use police body camera footage from the incident, according to Florida court records.

Munro entered a plea of not guilty and is expected to appear in court for a pre-trial conference hearing on Feb. 16. 

Two dead, 1 critically injured after shooting inside Philly takeout restaurant

Philadelphia police are investigating a shooting that left two people dead, and one in critical condition.

The shooting happened at a Chinese takeout restaurant on the southwest side of town at 11:28 p.m. Tuesday. 

When police arrived on the scene, they found three people lying on the ground in the customer waiting area of the restaurant, Chief Inspector Scott Small told FOX 29 Philadelphia. 

All three victims – a 43-year-old woman, a 20-year-old man and a 19-year-old man – were bleeding heavily and unresponsive from gunshot wounds. Police had all three taken to a hospital for treatment.

TEEN ARRESTED IN MALL OF AMERICA FATAL SHOOTING, MOTHER ALLEGEDLY DROVE HIM TO GEORGIA AFTER NORDSTROM MELEE

The 19-year-old man was shot multiple times throughout his body and was later pronounced dead at 11:37 p.m., while the 43-year-old woman, who was shot in the shoulder, was pronounced dead at 12:08 a.m., Small said.

The 20-year-old man was also shot multiple times and remained in extremely critical condition. He has not regained consciousness, and is “not expected to make it,” the FOX 29 reporter at the scene tweeted.

2 SHOT DEAD AND SEVERAL INJURED, INCLUDING 12-YEAR-OLD, IN PHILADELPHIA ON MLK DAY: POLICE

Investigators found 16 spent shell casings on the scene, with eight of them being found outside the restaurant and another eight inside the area the three victims were found.

Police say all three victims lived within a block of the business at 54th Street and Chester Avenue. 

Surveillance video from the area captured two suspects running away after the shooting. 

Investigators are working to learn if one or more of the victims were targeted. At this time, the motive for the shooting remains unknown. 

10 Social Media Tips for Restaurant Marketing

If you own a restaurant and aren’t leveraging social media, you are missing out. 

Think about this: you can reach thousands, if not millions, of viewers using popular restaurant marketing hashtags like #foodporn and #foodphotography.

Platforms like Instagram and Facebook let you upload attractive images with location tags, making them ideal for restaurant marketing. 

After all, who doesn’t enjoy looking at delicious food pics when they’re scrolling through their feed? 

The restaurant marketing hashtag #foodporn has 268 million posts.

Most social media platforms are free, and if you use effective marketing strategies, promotions and advertising can be free (or cheap) as well. 

This article will help you understand how to use your existing resources and create a strategic restaurant marketing plan to grow your digital reach. 

First, let’s talk about why social media is a crucial tool for restaurant marketing. Then we’ll discuss how to stand out from your competitors and find the most effective social media marketing techniques for your business. 

Why Is Social Media Important for Restaurant Marketing? 

Using smart social media strategies for restaurants may sound like a lot of work, but the effort will pay off.  If you’re not convinced it’s worth the effort, here are a few reasons why social media is important for restaurant marketing:

  • Brand awareness: More than 3 billion people use social media. You can post pictures of your restaurant, upload videos of cooking new dishes, highlight behind-the-scenes/facts about your business, etc. to reach the ever-growing audience on social media. 
  • Engage with user-generated content: The interactive nature of social media platforms lets you increase engagement by sharing user-generated content (UGC). This can include photos of people eating at your restaurant, graphics featuring testimonials, or stories of how people found your restaurant. UGC encourages other users to visit, and share own content. 
  • Address customer concerns: Unhappy customers tend to take their concerns to social media. This is an excellent opportunity for you, as a business owner, to reach out and solve their problem. It’ll earn you good press and build a positive reputation while increasing customer loyalty.
  • Get feedback: Use social media to start a healthy discussion and get useful feedback. Ask customers what they’d like to see changed, what new menu items they’d love, or what specials would bring them back. 
  • Increase your reach: You can use location tagging on Instagram and Facebook to reach new customers living in and around your target geographical area. This can also attract tourists looking for a local spot to grab a bite to eat. 

10 Social Media Strategies for Restaurant Marketing 

Restaurant marketing through social media can hugely benefit your business, but how do you get started? 

Trending on social media and reaching the right users can be tricky as algorithms keep changing, but using the right strategies can help you grow your audience and increase foot traffic. Here are the top restaurant marketing techniques to get you started. 

1. Create a Cohesive Brand Voice

If you have a large team managing your social media pages, it can be difficult to maintain a consistent brand voice. Marketing teams that employ different people to manage each social media page may end up with a scattered “style.” 

If you upload funny tweets from your restaurant marketing account but maintain a serious tone on LinkedIn, you risk confusing the customer. They may wonder: is this the same brand? 

Research shows consistent branding across different social media platforms can boost your revenue. 

How do you ensure a cohesive brand voice for restaurant marketing on social? 

  • have a style guide for all team members to use
  • post images with a similar color theme 
  • write your captions with a consistent tone of voice
  • if you use humor, ensure it translates well across different social media platforms. 

2. Optimize Your Bio on Each Social Media Platform

Imagine you do everything right. You upload attractive high-resolution pictures, use trending hashtags and geotag your posts for increased reach. 

Customers see your post, and they’re intrigued. They decide to contact you for a reservation, but they can’t find any phone numbers, emails, or location information because you forgot to include it on your social media page. 

This happens more often than you’d think. As you can guess, it’s counterproductive. 

The main goal of restaurant marketing is to drive customers to your restaurant. If you don’t include the necessary information, you can lose out on valuable sales. 

Here’s a checklist of information you can keep in mind before hitting publish.

  • location(s) address
  • phone numbers
  • email address
  • map/directions from popular landmarks
  • restaurant information

Take Just Falafel’s Facebook page. You can see the phone number, email, address, and a map so it’s easier to find all the information potential customers may need. 

just falafel social media for restaurants example

Note: What’s necessary to optimize your Facebook page will differ from Instagram or Twitter page. Take a look at the settings, profile description options, and other users’ profiles to understand what you should and shouldn’t include. 

3. Use Social Media Tools to Monitor Brand Mentions

When users talk about your restaurant online, it’s like free marketing. You can use this to your advantage by commenting on or re-sharing their posts. 

Fortunately, there are dozens of free and paid tools available to make this easier for you. You can automate name and mention tracking to get instant updates whenever a customer (or a competitor) talks about you. 

Here are some options to help you get started:

  • Hootsuite
  • Google Alerts
  • Talkwalker
  • Reputology
  • Mentionlytics

4. Feature Behind the Scenes Content

Even the best of food pics can start feeling impersonal after a while. When this happens, revamp your feed and intrigue your audience by posting behind-the-scenes content. 

For example, look at Sandwich Hag’s Instagram post. 

Sandwich Hag’s restaurant marketing post highlights behind-the-scenes content

By sharing internal stories, their marketing team establishes a relationship with the audience. 

This works. 

In a study analyzing more than 10,000 responses, researchers found  55 percent of people find stories more persuasive than facts and data. 

You use this to your advantage by posting about what happens behind the scenes in your restaurant. 

Can you post a special story about a particular dish? Can you post pictures of your staff working? Can you share fun facts about your team? Think about how you can offer a personalized feed to your audience. Remember, most users head to social media to be entertained, so make sure to keep their interest. 

5. Promote Seasonal Menu Items

Restaurant social media marketing is ideal when you’re launching new dishes or promoting seasonal menu items. People enjoy novelty. In fact, studies show humans crave newness. 

You can use this principle to promote special items on your menu. 

Posting about a new menu can work as an effective restaurant marketing strategy

Every time you change your menu or introduce new ingredients to your regular dishes, talk about it on social media. Use your business’ novelty as a focal point for restaurant marketing. 

6. Post Employee Spotlights

Just like Sandwich Hag posted about their employees to offer a peek into the restaurant’s behind-the-scenes, you can dedicate special posts to highlight your employees. 

There are many ways to do this: 

  • Post a picture of your employees when they achieve something (graduation, wedding, birth of a child, etc.) 
  • Share a special Facebook post highlighting who they are, what they do, and how your audience can support them. For example, you might share a profile on your chef, including where they’ve lived and studied and how they’ve impacted your restaurant. 
  • Introduce new employees so long-time customers can welcome them. 

7. Share User-Generated Content

One of the best ways to grab user attention is to post something created by them. Open any social media app and you’ll see hundreds, maybe thousands of people tagging brands in their posts. 

Not all of these are sponsored. 

People love sharing their experiences online. If they visit your restaurant and post a picture on their social media feed, re-share it. It’s free restaurant marketing for you and a spotlight opportunity for them. It also helps establish trust with people who might consider visiting. 

You can share user-generated content in many forms. 

  • re-share user photos taken in your restaurant
  • ask users to leave video testimonials for your restaurant 
  • publish feedback and other kind words offered by frequent visitors

8. Engage With Users – Both Positive and Negative Feedback 

Most restaurant marketing teams are happy to respond to positive comments but tend to ignore the negative ones. This is understandable, but it can harm your restaurant marketing. 

When someone talks about your restaurant, others can see their post, too. You can’t make them delete their post, but you can diffuse the situation by responding kindly. In fact, negative reviews can be a good thing—it shows other users you care about their experience and will go the extra mile to solve issues. 

Understand their concerns, see what they have to say. Did they have a bad experience because something was wrong with their food? Were they expecting a particular type of service you didn’t know about? Do they feel your food is too expensive?

Paying attention and responding to user comments helps you understand how to serve your customers better. 

The best part? It also makes you look responsive and approachable. Plus, it boosts user engagement, so your posts can reach more users. It’s a win-win. 

9. Work With Influencers

Influencers and micro-influencers have an eager audience ready to try something new based on the influencer’s recommendation. 

More brands are reaching out to influencers with various sizes of audiences to boost their brand awareness. 

If you’ve never done this before, here are some ways you can collaborate with influencers: 

  • Offer a free meal in exchange for a review.  
  • Offer a discount coupon for every customer they bring in. 
  • Pay money for custom content on their feed, often called sponsored posts. 

10. Use Promotions

Consider using paid promotions if you want to take your restaurant’s social media marketing to the next level. 

While paid ads might not be ideal for restaurants with tight budgets, seasoned entrepreneurs should experiment with paid campaigns for increased reach. 

Facebook, Instagram, Twitter, and most other social media platforms offer excellent tools for paid social promotions. You can identify your target audience, set up an ad campaign, and even define a fixed budget for the promotion to run. 

FAQs About Restaurant Marketing

Here are some of the most popular questions people ask about restaurant marketing. 

Can I promote my restaurant on social media for free?

Yes, many social media promotion techniques can be implemented for free. Strategies like using the right hashtags, posting user-generated content, and others outlined above can be executed with little to no money. 

Can social media marketing bring customers to my restaurant?

Yes. If you are armed with a powerful set of marketing strategies, you can reach your target audience and influence them to visit your restaurant. Conversion rates may vary by strategy, but social media marketing can help increase brand awareness. 

How can I promote my small restaurant?

The size of the restaurant has little to no influence on the effectiveness of the social media strategies you use. In fact, as a new business on the market, you have more opportunities to develop your brand voice and intrigue users looking to try something new. 

Which hashtags should I use for marketing my restaurant on social media?

Which hashtags should I use for marketing my restaurant To promote your restaurant on social media, use popular hashtags like #foodporn, #foodphotography, #foodgasm #mealoftheday, etc. You can also use smaller but relevant hashtags like #yummy, #delicious, #brunch, etc. on social media?

{
“@context”: “https://schema.org”,
“@type”: “FAQPage”,
“mainEntity”: [
{
“@type”: “Question”,
“name”: “Can I promote my restaurant on social media for free?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Yes, many social media promotion techniques can be implemented for free. Strategies like using the right hashtags, posting user-generated content, and others outlined above can be executed with little to no money. ”
}
}
, {
“@type”: “Question”,
“name”: “Can social media marketing bring customers to my restaurant?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: ” Yes. If you are armed with a powerful set of marketing strategies, you can reach your target audience and influence them to visit your restaurant. Conversion rates may vary by strategy, but social media marketing can help increase brand awareness.  ”
}
}
, {
“@type”: “Question”,
“name”: “How can I promote my small restaurant?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The size of the restaurant has little to no influence on the effectiveness of the social media strategies you use. In fact, as a new business on the market, you have more opportunities to develop your brand voice and intrigue users looking to try something new. ”
}
}
, {
“@type”: “Question”,
“name”: “Which hashtags should I use for marketing my restaurant on social media?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Which hashtags should I use for marketing my restaurant To promote your restaurant on social media, use popular hashtags like #foodporn, #foodphotography, #foodgasm #mealoftheday, etc. You can also use smaller but relevant hashtags like #yummy, #delicious, #brunch, etc. on social media?”
}
}
]
}

Restaurant Marketing Conclusion

Restaurant marketing is an ever-evolving process. As you get used to interacting with customers online, you’ll encounter new strategies better suited to how your business operates. 

You can start using the strategies outlined above one by one to see what works and what’s not worth the ROI. You can also experiment with your own method to see what resonates with your audience. 

Whether you have a brand new restaurant in one city or operate a chain restaurant across the country, remember to focus on what your target audience enjoys. That will help you create an optimal restaurant marketing plan. 

Which restaurant marketing strategy do you think will work for your audience? 

Get a Recession Business Loan for a Restaurant

Need a Recession Business Loan a Restaurant?

If you love to cook or you love to eat but know you can do better than the restaurants and cafés in your area, you might be dreaming about opening your own restaurant. But to grow a restaurant, you are going to need business capital. In a bad economy, that means a recession business loan for a restaurant.

Like all businesses, getting started with a restaurant is probably going to mean you will need to borrow capital. Often, that will be a business loan.

Recession Age Funding

The number of US financial institutions and also thrifts has been decreasing slowly for 25 years. This is from consolidation in the marketplace as well as deregulation in the 1990s, reducing obstacles to interstate banking. See: https://www.fundera.com/blog/happened-americas-small-businesses-financial-crisis-six-years-start-crisis-look-back-10-charts

Assets focused in ever‐larger banks is troublesome for small business owners. Big banks are a lot less likely to make small loans. Economic downturns suggest financial institutions come to be much more mindful with financing. The good news is, business credit does not rely on banks.

The SBA

Many credit line varieties that most business owners imagine come from conventional banks and conventional banks use SBA loans as their key loan product for small business owners. This is because SBA assures as much as 90% of the loan in the case of default. These credit lines are the most challenging to get approval for because you must qualify with SBA and the bank.

Get a Recession Business Loan for a Restaurant from the SBA

There are two fundamental sorts of SBA loans you can commonly get. One kind is CAPLines. There are in fact 4 types of CAPLines that can work for your business.

You can also secure a lesser loan amount more quickly using the SBA Express program. A lot of these programs offer BOTH loans and revolving lines of credit.

From the SBA … “CAPLines is the umbrella program under which SBA helps business owners meet short-term and cyclical working capital needs”. Loan amounts are offered right up to $5 million. Loan qualification prerequisites are the same as with other SBA programs.

Seasonal Line

This one advances against anticipated inventory and accounts receivables. It was created in order to help seasonal businesses. Loan or revolving are on offer.

Contract Line

This one finances the direct labor and material costs of performing assignable contracts. Loan or revolving kinds are available.

Builders Line

This one was made for general contractors or builders constructing or renovating industrial or residential buildings. This line is for fund direct labor-and material costs, where the building project acts as the collateral. Loan or revolving types are on offer.

Working Capital

Borrowers must use the loan proceeds for short term working capital/operating needs. If the proceeds are used to acquire fixed assets, lender must refinance the portion of the line used to acquire the fixed asset into an appropriate term facility no later than 90 days after lender discovers the line was used to finance a fixed asset.

Get a Recession Business Loan for a Restaurant from SBA Express

You can get approval for right up to $350,000. Interest rates can be different, with SBA enabling banks to charge as much as 6.5% over their base rate. Loans above $25,000 will call for collateral.

Approval Details

To get approval you’ll need great personal and company credit. Plus the SBA states you must not have any blemishes on your report. An acceptable bank score demands you have at least $10,000 in your account over the very last 90 days.

You’ll likewise need a resume showing you have market practical experience and a well put together business plan. You will need three years of business and personal tax returns, and your business returns should show a profit. And, you’ll need a current balance sheet and income statement, therefore showing you have the funds to pay back the loan.

Collateral

To get approval you’ll need account receivables, but just if you have them. As for the collateral to offset the risk, normally all business assets will serve as collateral, and some personal assets including your home. It’s not unheard of to need collateral equivalent to 50% or more of the loan amount. You also need articles of incorporation, business licenses, and contracts with all third parties, and your lease.

Let’s look at credit lines.

Get a Recession Business Loan for a Restaurant from Credit Lines

A credit line, or line of credit (LOC), is an agreement between a borrower and a bank or private investor that establishes a maximum loan balance that a borrower can access.

A borrower can access funds from their line of credit anytime, so long as they don’t go beyond the maximum set in the arrangement, and as long as they meet all other requirements of the bank or investor including making on time payments.

Advantages

Credit lines deliver many unique benefits to borrowers including flexibility. Borrowers can use their line of credit and merely pay interest on what they use, in contrast to loans where they pay interest on the sum total borrowed. Credit lines can be reused, so as you acquire a balance and pay that balance off, you can use that accessible credit again, and again.

Learn business loan secrets with our free, sure-fire guide. We can help you get money, even during a recession.

Details

Credit lines are revolving accounts similar to credit cards, and compare to various other types of funding including installment loans. Oftentimes, lines of credit are unsecured, much the same as credit cards are. There are some credit lines which are secured, and for this reason easier to qualify for

Credit lines are the most commonly requested loan type in the business world although they are preferred, authentic credit lines are rare, and tricky to find. Many are also very hard to get approval for calling for good credit, good time in business, and good financials. But there are other credit cards and lines that few people know about that are attainable for startups, bad credit, and even if you have no financials.

Get a Recession Business Loan for a Restaurant from Private Investors and Alternative Lenders

Private investors and alternative lenders also offer credit lines. These are less complicated to qualify for than conventional SBA loans. They also demand much less documentation for approval. These alternative SBA credit lines frequently need good personal credit for approval.

Unlike with SBA, many of them don’t call for good bank or business credit approval. Most of these kinds of programs call for two years’ of tax returns. Tax returns need to demonstrate a profit. Rates can vary from 7% or greater and loan amounts range from $25,000 into the millions. Loan amounts are frequently based on the revenues and/or profits on tax returns. At times lenders may ask for other financials such as a profit and loss statement, balance sheets, and income statements.

Learn business loan secrets with our free, sure-fire guide. We can help you get money, even during a recession.

Get a Recession Business Loan for a Restaurant with Merchant Cash Advances

Merchant cash advances have quickly become the most popular way to get financing, in large part due to the effortless qualification process. Businesses with $10,000 in earnings can get approval, with the business owner having scores as low as 500.

Some sources have now even begun to offer credit lines that accompany their loans. You must have at least $10,000 in revenue for approval. You should be in business for at least one year, however three years is better. Lenders usually want to see a credit score of 650 or better for approval.

Loan amounts are usually around $20,000. Lenders normally will pull your business credit, so you ought to have some credit already and at times lenders will want to see tax returns.

Rates vary, due to the risk for this program, and there typically aren’t a lot of funding sources who offer it.

Get a Recession Business Loan for a Restaurant with Stocks/Bonds as Collateral for Financing

You can get financing despite personal credit if you have some sort of stocks or bonds. You can also get approval if you have somebody wishing to use their stocks or bonds as collateral for financing.

Personal credit quality doesn’t matter as there are no consumer credit requirements for approval. You can get approval for as much as 90% of the value of your stocks or bonds. Rates are often lower than 2%, making this one of the lowest rate credit lines you’ll ever see. You can still earn interest as you generally do on your stocks and bonds.

Credit Cards and Lines are Very Similar

Credit cards ordinarily offer 0% intro rates for up to two years. This is also rather useful for startups in particular. And credit lines let you take out more cash at a more affordable rate than do cards. These are the main two differences which will have an effect on you between credit cards and credit line.

Investopedia even says that “lines of credit are potentially useful hybrids of credit cards.”

Both cards and lines are revolving credit. Credit lines are tougher to get approval for as card approvals are often very quick, many times automated, while line require an in-depth underwriting review. Lines usually offer lower rates, according to Bankrate card rates average 13% while lines average 4%.

Get a Recession Business Loan for a Restaurant with Unsecured Business Credit Cards

Recession Restaurant Financing Credit SuiteThe majority of these cards report to the consumer credit reporting agencies. They all require a personal guarantee from you. You can get approval in general for one card at the most as they discontinue approving you when you have two or more inquiries on your report.

Most credit card companies feature business credit cards including Capital One, Chase, and American Express. These have rates similar to consumer rates and limits are also similar.

Some of them report to the consumer reporting agencies, some report to the business bureaus. Approval requirements resemble consumer credit card accounts.

Inquiries

Frequently, when you apply for a credit card you put an inquiry on your consumer report. When other lenders see these, they won’t approve you for more credit for the reason that they do not know how much other new credit you have lately obtained.

So they’ll only approve you if you have less than two inquiries on your report within the most recent six months. Any more will get you refused.

Get a Recession Business Loan for a Restaurant with Our Hybrid Credit Line

With this form of business financing, you work with a lender who concentrates on securing business credit cards. This is a very rare, very few know about program which few lending sources offer. They can typically get you three to five times the approvals that you can get on your own.

This is because they are familiar with the sources to apply for, the order to apply, and can time their applications so the card issuers won’t reject you for the other card inquiries. Individual approvals frequently range from $2,000 – 50,000.

The end result of their services is that you generally get up to five cards that resemble the credit limits of your maximum limit accounts now. Multiple cards create competition, and this means they will raise your limits, often within 6 months or fewer of first approval.

Approvals

Approvals can go up to $150,000 per entity such as a corporation. With our hybrid credit line you get three to five business credit cards that report only to the business credit reporting agencies. This is huge, something the majority of lenders don’t offer or advertise. Not only will you get cash, but you build your business credit also so within three to four months, you can then use your new company credit to get even more money.

Rates

The lender can also get you low introductory rates, typically 0% for 6-18 months. You’ll then pay normal rates after that, typically 5-21% APR with 20-25% APR for cash advances. And they’ll also get you the very best cards for points. So this means you get the very best rewards.

Like with just about anything, there are significant benefits in teaming up with a source who focuses on this area. The results will be far better than if you attempt to go at it by yourself.

Learn business loan secrets with our free, sure-fire guide. We can help you get money, even during a recession.

Qualifications

You must have excellent personal credit now, ideally 685 or higher scores, the same as with all business credit cards. You shouldn’t have any negative credit on your report to get approval. And you must also have open revolving credit on your consumer reports now and you’ll need to have five inquiries or less in the last six months reported.

Fees

All lenders in this space charge a 9-15% success based fee and you only pay the charge off of what you secure. Remember, you get a lot of extra advantages and about three to five times more cash in this program than you could get on your own, which is why there’s a fee, the same as all other lending programs.

You can get approval using a guarantor and you can even use various guarantors to get even more money. There are even other cards you can get making use of this very same program but these cards only report to the consumer reporting agencies, not the business reporting agencies. They are consumer credit cards versus business credit cards.

Benefits

They offer similar benefits such as 0% intro annual percentage rates and five times the amount of approval of a solitary card but they are much easier to get approval for.

You can get approval with a 650 score and seven inquiries (or fewer) in the last six months and you can have a bankruptcy on your credit and other negative items. These are a lot easier to get approval for than unsecured business credit cards.

With all preceding cards above, you ought to have good consumer credit in order to get approval but what happens if your personal credit is not good, and you don’t have a guarantor?

This is when building company makes a great deal of sense even if you have good personal credit, developing your business credit helps you get even more money, and without having a personal guarantee.

Get a Recession Business Loan for a Restaurant with Building Business Credit

Company credit is credit in a company name, in connection with the company’s EIN number, and not the owner’s Social Security Number. When accomplished correctly, you can acquire business credit without a personal credit check and without a personal guarantee. This is something all other cards above can’t deliver.

You can get three types of business credit cards. First is vendor credit, which offers net 30 terms to set up a business credit profile. Then is retail credit, where you will get credit cards with high limits at most stores.

Next is fleet credit. It’s credit to fuel, service, and maintain business vehicles. And then there’s cash credit, which includes Visa, MasterCard, and American Express cards that you can use anywhere. You can obtain these with no credit check or guarantee. Limits are oftentimes $5,000 – $10,000 to get started, and can exceed $50,000.

Takeaways for How to Get a Recession Business Loan for a Restaurant

Your business can get credit cards and financing, if you know where to look. Learn more here and get started toward establishing business credit. Get a recession business loan for a restaurant. And grow a business you can be proud of!

The post Get a Recession Business Loan for a Restaurant appeared first on Credit Suite.