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Business Loan for Restaurant

Nowadays, people are fond of celebrating their special occasions in restaurants. This generally involves having some near and dear ones close-by to enjoy the lip-smacking food offered at these places. The restaurant business is profitable because people will eat no matter what the occasion. But the very first step to opening this lucrative business is availing a business loan for a restaurant.

Several factors need to be kept in mind when opening a food chain. These include a promotion, marketing, staffing, and licensing. The interested entrepreneurs need to indulge in a lot of groundwork for getting the restaurant up and running. All these things require sufficient funds, and this is where an MSME loan for a restaurant proves to be effective.

How to Get Loan for Hotel Business in India?

If you are looking for a loan for hotel and restaurant business at low rates of interest and without collateral, then FlexiLoans can be the right destination for you. Our restaurant business loans are available up to Rs.1 crore with the loan processing taking place very fast. Everything starting from the filling in of the application form to providing the documents is done online.

We are into disbursing our term loan for restaurant business amount within the shortest time possible. Loan disbursals generally take 48 hours. One of the best things about our small business loans for restaurants is that you will not have to provide any collateral against the loan amount. Also, there are no hidden charges levied on the line of credit loans available from our portal. We inform the borrowers about all kinds of charges even before they apply for the loan.

Another great thing about our loan against POS is that the interest rates on these loans are fair. The rate of interest can differ as per case but only after taking the financial history of the applicants into account. It is also important to note that the borrowers can choose our vendor financing loan tenures according to their convenience. They can pay off the total loan amount in installment form if they find it easier.

We work to help our clients meet their requirements in the most proactive manner. Our specialized restaurant loan options come as a significant help for business owners facing funding deficits. Ours is a technology-driven podium offering 24/7 accessibility to the borrower’s loan account while ensuring complete transparency!

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Basic Eligibility Criteria

Minimum Business Vintage	1 year
Monthly Business Sales Minimum	2,00,000

Documents Required for Restaurant Business Loan

Personal KYC	PAN card
Residential Address Proof (Any One)	Rent Agreement \| Driving License \| Voter's ID \| Ration Card \| Passport \| Aadhar Card
Banking	Last 6 months current account bank statements
Business KYC (Any One)	GST Registration Certificate \| Shops & Establishment Certificate \| Business PAN Card

Frequently asked questions

What are the purposes for which I can get a loan via FlexiLoans?

FlexiLoans is here to provide you financial access for your business funding needs. You have to undergo simple and transparent Credit Evaluation, basic documentation before we disburse the loan. You may get loans via FlexiLoans for:

Expanding your business
Servicing regular working capital needs
Managing seasonal working capital requirements
Manage short term cash flow gaps

Why should I avail loan via FlexiLoans?

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business.

What documents are required to apply for a loan?

KYC document

- Pan card

Proof of residential address (any one)

- Rent Agreement
- Driving License
- Voter's ID
- Ration Card
- Passport

Banking

- Last 6 months of bank statement of current account

Business KYC (any one)

- GST Registration Certificate
- Shop Establishment Certificate

Financial documents (For loans greater than 20 Lakhs)

- 2 years Audited financials
- Last 2yrs ITR
- GST Returns of 6 months

Are there any charges other than interest rate that I have to pay to avail the loan?

We may charge processing fee to facilitate the loan towards legal and documentation charges. You may be charged penal charges for late or irregular payment behavior.

What security do I need to provide to avail a Business loan for restaurant?

FlexiLoans provides only collateral free business loans. So, you do not need collateral for applying for a business loan.

What is the lowest interest rate on a restaurant business loan in India?

Interest rates start at as low as 1% per month. However, it may depend on various factors like your loan amount, tenure, eligibility, etc.