With the economy going every way but up, With Banks getting tougher and tougher on lending, its no surprise that I heard from one lender today, that they may not be lending to any restaurants for a while.
Their logic is that with gas prices going up and the economy side stepping people will not be eating out as much, and as such restaurant loans become a bad risk. Now saying that if you are in the restaurant industry and believe you will be needing capital in the short term, GET IT NOW. Don't wait. The words I shared with you are from one lender, this has no swept across the lending industry yet.
If you are in the industry and can show positive cash flow as well as supporting collateral now is the time to close that loan. To see what we can do for you read What Makes Us Different. Don't delay start your loan process immediately.
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