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Business Loan for Restaurant

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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:

  • Setting up a new Outlet
  • Purchasing kitchen equipment
  • Constructing or renovating the restaurant.
  • Building working capital
  • Investing in Interior decoration
  • Purchasing restaurant furniture and fixtures

So, if you wish to empower your culinary dreams read below to explore the FlexiLoans’ loan procedure:

Steps to secure Restaurant Financing

1. Determine your Eligibility

While applying for a business loan for restaurants ensure that you meet the following terms and conditions:

  • The applicant must be 21 years or above. 

  • The business should have a minimum operational history of 1 year. 

  • The minimum monthly turnover of business should be at least ₹2,00,000. 

2. Prepare the Required Documentation

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:

  1. Applicant’s KYC document, which includes
      – PAN Card
    2. A legit proof of Address, which may include any one of the following (Rent agreement/Driving License/Voter ID/Ration Card/Passport)
    3. Last 6 months current Bank Account Statement in net banking to be served in PDF format.

4. Business KYC document, which may be any one of the following

– GST Registration Certificate
– Shops and Establishment Certificate

3. Fees and Charges

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. 

How FlexiLoans can help you effectively meet the requirements of your Restaurant Financing 

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. 

Hassle-free Online procedure

Ranging from filling out an application form to uploading the required documents the complete procedure takes just 15 minutes.

No Collaterals Required 

No need to pledge any personal or business assets as our loans are completely unsecured. 

Fair and Transparent Procedure

Our technology-driven platform provides 24*7 accessibility to your loan account to ensure transparency.

Quick disbursal

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. 

Legalities to be completed for starting a restaurant business in India

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 Food Safety and Standards Authority License

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.

Health Trade license

This license is issued by the local civil authorities to ensure that the health of the public is provided the utmost importance.

Liquor License

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.

Eating House License

This License is sanctioned by the Licensing Police Commissioner of the city in which you wish to open the restaurant.

GST Registration

To ensure the seamless operation of your restaurant it is compulsory to register it under GST. 

Trademark Registration

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.

Shop and Establishment Act

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. 


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