{"id":3717,"date":"2015-07-29T15:20:34","date_gmt":"2015-07-29T15:20:34","guid":{"rendered":"https:\/\/www.arffinancial.com\/development\/?p=3717"},"modified":"2023-11-06T17:24:30","modified_gmt":"2023-11-06T22:24:30","slug":"restaurant-financing-what-to-do-when-the-bank-denies-you","status":"publish","type":"post","link":"https:\/\/www.arffinancial.com\/development\/restaurant-financing-what-to-do-when-the-bank-denies-you\/","title":{"rendered":"Restaurant Financing: What to do When the Bank Denies You"},"content":{"rendered":"

Running your own restaurant can feel like a dream come true. Customers love your food, the regulars visit often and there’s a line out the door of happy, hungry people just waiting to be seated.<\/p>\n

\"restaurant\"<\/a><\/p>\n

Once you reach a certain level of success with your restaurant, your\u00a0dream will grow\u00a0larger and you may start thinking about expansion, renovation or re-decoration<\/strong>. You know all three of these things are investments in the long-term growth of your restaurant, but you may not want to disrupt your cash flow by reaching into your bank account to pay for them up front.<\/p>\n

You know that you can apply for a business loan from your bank, but unfortunately it can be difficult for restaurants to get approved for traditional bank loans<\/strong>. Often you need a credit score of at least 650 along with 30% of the loan amount already in cash on-hand<\/strong> and a really impressive business plan. Even if you meet all of your bank’s criteria, it can take weeks or months to get approved for your loan.<\/p>\n

\"Paying<\/a><\/p>\n

So if you\u2019ve been declined by a bank or you don’t have the time to wait for an approval, what can you do?<\/p>\n

Save Money:<\/strong><\/h2>\n

One way of saving money and having a little extra in your pocket is by implementing money saving measures<\/strong>.<\/p>\n