India is one of the largest consumer markets in the world, and also one of the youngest with around 50% of its population below the age of 25. Among teens and younger population dining out has become a popular trend which indirectly contributes to the booming of the restaurant industry. India proposes huge upside opportunities for entrepreneurs willing to establish standalone restaurants. While this increase in potential foot traffic also leads to higher competitiveness in the market. Moreover with this projected growth also arrive some funding challenges. Whether you are a seasoned veteran or a newbie, as a restaurateur, realizing your business goals will largely depend on securing appropriate restaurant financing. A steady source of funding is very essential to meet the day to day growing expenses of logistics and fresh supplies. Additionally, to manage the diverse needs restaurateurs need to seek assistance through business loans. A business loan for restaurants serves to be the most effective medium for stimulating business growth while continuing to retain the normal operations.
Understanding the varied payment requirements and cash flow issues of restaurants, FlexiLoans provides the hassle-free customized loan solutions for restaurant financing.
The Restaurant & Bar Business Loans can be used to serve the following purposes:
So, if you wish to empower your culinary dreams read below to explore the FlexiLoans’ loan procedure:
While applying for a business loan for restaurants ensure that you meet the following terms and conditions:
Applying for business loans for Restaurants & Bars requires you to furnish some standard information. Presenting these details solidifies the lender’s confidence in the borrower. The specific documents that you need to keep handy at the time of application for Business Loans for Restaurants include:
4. Business KYC document, which may be any one of the following
– GST Registration Certificate
– Shops and Establishment Certificate
At FlexiLoans, we pride ourselves on being fair in our processes. We follow the highest standards of ethics and accord our customers the operational transparency. With nominal charges and low-interest rates, you can affordably fund your needs of the business. However, the charges applicable and interest rate levied may be determined based on the evaluation of your business, loan repayment duration and borrowed amount.
FlexiLoans offers specialized loan options to fund the existing as well as emerging restaurants. With a wide network spread across 100+ cities of India, we have made endeavors to provide our customers with the most hassle-free process. Our dedicated digital lending platform ensures to provide a quick turnaround time in sanction & disbursal for loan amounts ranging up to Rs 1 crore.
Ranging from filling out an application form to uploading the required documents the complete procedure takes just 15 minutes.
No need to pledge any personal or business assets as our loans are completely unsecured.
Our technology-driven platform provides 24*7 accessibility to your loan account to ensure transparency.
Our data-driven capabilities furnish the super quick loan decisions. Without wasting time we disburse the funds for your restaurant needs within two working days.
Before you head on to approach us for Restaurants & Bars Business Loan we would like you to learn about following legal obligations. Obtaining correct licenses and permits will not only help in easy financing but will also ensure that your restaurant operates legitimately. So, to run an eatery that is not just delectable but lawful as well you need to acquire the following licenses:
FSSAI License, also known as the Food License is one of the most important licenses required to open a restaurant. This unique 14 digit registration number serves as a statement of approval by the authority. It ensures the customers that the food being served by a particular restaurant complies with the food safety norms of India.
This license is issued by the local civil authorities to ensure that the health of the public is provided the utmost importance.
Possessing this license is mandatory if your restaurant serves liquor. This license can be obtained from the Local Excise commissioner and the forms are available at the Government website of the respective state.
This License is sanctioned by the Licensing Police Commissioner of the city in which you wish to open the restaurant.
To ensure the seamless operation of your restaurant it is compulsory to register it under GST.
In case if you wish to expand your restaurant business by opening a chain of restaurants and plan to invest a good amount in branding then it is obligatory to acquire a trademark registration.
Within 30 days of the commencement of your restaurant, you need to register it under the Shops and Establishment Act.
So, are you ready to boost your restaurant business! Click here and apply for a simple, fast and convenient loan.