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Restaurant Financing Solutions

Restaurant Funding Programs and Parameters

The following terms, conditions, parameters, restrictions, limitations, and stipulations are available for your review below. Please note that they are subject to change based on Metropolitan Capital’s underwriting department/approval desk. All interested restaurant owners should apply today to take advantage of current rates and terms.

Requirements for Loans:

  • Financing Terms (months): 4-12, 15-18
  • Min. Time in Business (years): 2, 4
  • Min. Monthly Sales: $10,000
  • Min. Credit/FICO®: 600
  • Max. Business Liens/Judgments: $150,000
  • Min. Financing Amount: $5,000       
  • Max. Financing Amount: $600,000
  • Origination Fee: N/A

Requirements for Cash Advances:

  • Financing Terms (months): 4-8, 10-12
  • Min. Time in Business (years): 2, 2
  • Min. Monthly Sales: $10,000
  • Min. Credit/FICO®: 600
  • Max. Business Liens/Judgments: $150,000
  • Min. Financing Amount: $5,000       
  • Max. Financing Amount: $600,000
  • Origination Fee: N/A

Requirements for Lines of Credit:

  • Financing Terms (months): 6, 9, 12
  • Min. Time in Business (years): 2
  • Min. Monthly Sales: $10,000
  • Min. Credit/FICO®: 600
  • Max. Business Liens/Judgments: $150,000
  • Min. Financing Amount: $5,000       
  • Max. Financing Amount: $150,000
  • Origination Fee: 4% Draw Fee

Pre-Qualification Requirements (All Programs):

Application
  • The signed and dated application must be legible, dated, and signed within 30 days of applying for financing. NOTE: The applicant(s) must submit a copy of their driver’s license and a voided check with the application via upload. NOTE: The application form is an online PDF document accessible by scanning the QR Code below. The form provides a secure link to upload the requisite attachments to us.
 
Credit Pull
  • Soft Credit Pulls Only.
Bank/Processing Statements
  • FOR LOANS: Only the last 3 months of Business Bank Statements (unless seasonal).
  • FOR LOCs: Only the last 3 months of Business Bank Statements (unless seasonal).
  • For MCAs: Only the last 3 months of Business Bank Statements.
  • Only the last 3 months of processing statements (unless seasonal) are required.
 
Multiple Entities/Locations
  • Businesses with multiple entities with different tax IDs – must submit separate applications and statements per entity.
Bankruptcy Tax
  • No open bankruptcies are allowed; they must have been discharged for at least a year with at least one active trade line.
 
Liens/Judgments
  • Personal tax liens cannot exceed $150,000
  • Business tax liens and business judgments:
  • $105,000—no paperwork needed.
  • Between $105,000 and $150,000—must be on a payment plan and the last two months of payments required.
  • Over $150,000—unqualified.
 
Site Visits
  • Not required but may be requested on a discretionary basis for deals over $150,000
Client Interviews
  • Required for new deals over $200,000 and renewals over $250,000
Landlord Interviews
  • Required for new deals over $200,000 and renewals over $250,000
Competitor Balances
  • For loans and MCAs, no more than two (2) competitor payoffs. Up to 65% of proceeds may be used to pay off outstanding competitor balances (must net 35% of the approved amount)
  • Up to two competitor balances may stay in place for LOCs. Please note that Rapid considers small LOCs differently in some cases. Existing LOCs may also be able to remain in place. Please reach out to your local account manager with any questions.
  • Competitor UCC filings less than 12 months require a zero-balance verification.
  • LOCs – No competitor payoffs are currently required.
 
Renewal Eligibility
  • All loans and MCAs are eligible for renewal when 50% of the original balance has been paid.
Copy of Lease or Deed
  • Business Space/Location for new deals $150,001 and higher.
Financials Required
  • Most recent Business Tax Return, Balance Sheet and Profit & Loss statement (for new deals $200,001 and up* and renewal deals $250,001 and greater).
 
Typical Use of Financing Proceeds:

  • New Equipment
  • New Supplies/Inventory
  • New Vehicles
  • Renovations
  • Expansion
  • Payroll for More Employees
  • Paying off Back Taxes
  • Satisfying Liens and Judgments
  • New Signage and Printing
  • Partner/Investor Buyouts
  • Bank Loan Payoff
  • Advertising and Marketing
  • Promotional Events
  • Buying a Food Truck
  • Hardware/Software Upgrades

 Restaurant Financing Application Form:

Have you read (and understand) the application requirements for financing approval?
Owner (Applicant) Name
Restaurant Business Address (Physical):
Do you own or rent the location?
Years in business:
How many locations?
OK to Text or send SMS:
Multiple Choice
Desired Financing Solution:
How soon do you need the funds?
Do you have any business loans/cash advances/credit lines on the business?
If yes, how many?
The application process requires that Rapid Finance perform a "soft" credit pull to verify that you have a minimum FICO score of 600. Do you accept?
The application process requires that you provide the following items that must be uploaded after you submit your in you submit your. Please check off the items you will upload to confirm your compliance with this requirement.
Please use the "File Upload" below to add the copy of your driver's license, voided check and the last three month's bank statements as attachments PDF application form (that will appear when you hit the "Submit" button.
Drag & Drop Files, Choose Files to Upload
For financing requests of $250,000 and above, the application process requires that you provide the following items that must be uploaded when you submit your in you submit your application. Please check off the items you will upload to confirm your compliance with this requirement.
Please use the "File Upload" box below to add the above listed items as attachments PDF application form (that will appear on the next page when you hit the "Submit" button).
Drag & Drop Files, Choose Files to Upload
Upon submitting an approved application to Rapid Finance, your local business financing account executive will provide you with a custom quote via phone, AND email. Do you accept?
Do you understand, acknowledge, and agree that by pressing the "SUBMIT" button below, that you will be directed to an online PDF business financing application that all owners must complete?
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