See Your Loan Options
Did you know running a Pizza shop is considered one of the most challenging business ventures? It takes a lot more than cooking to keep a Pizza shop afloat in this current market. Traditional lenders view Pizza shop business loans as risky investments, thus making acquiring funds tedious.
First Union Lending has provided working capital to many Pizza shops run by passionate owners who enjoy providing great food, drinks, and atmosphere to their customers daily. We are ready to help small and growing Pizza shops attain the necessary funds when needed.
Many Pizza shop owners are familiar with the hardships within the foodservice industry, such as broken equipment, employee turnover, and customer gripes. The best solution for small and growing businesses is to acquire working capital to enhance their business endeavors. Restaurant business loans are industry-specific loans offered by traditional and non-traditional lenders to support a range of business needs.
First Union is here to help! Various loan options can help your Pizza shop thrive.
When choosing the best types of loans relevant to the food industry, many factors are considered. Business owners should look out for loans that offer the best interest rates, down payments, and collateral requirements. Here are some of the more widely used loans that have helped Pizza shop owners:
SBA 7(a) Loan: 7(a) loans are the most common within the SBA family. With access to up to $5 million in working capital for 25 years, these loans are typically adequate for your business. Interest rates are between 7-8% depending on trade and the nature of your business. Most companies opt-in for an SBA loan fall under this 7(a) category.
SBA 504/CDC Loans: 504 loans are particular. For example, if you are looking to purchase commercial real estate or perhaps a large piece of equipment, this might be the program in which you meet the requirements. The borrower may need to provide 20% of the total value, the SBA kicking in 40%, and the lender the rest. The cap on this type of loan is generally $5 million.
SBA Express Loan: Considered the simple way to receive expedited, amortized government-guaranteed financing for your small business. This category of the SBA loan family allows borrowers to receive up to $350,000 in either a term loan or line of credit.
Equipment Financing: These loans are used to buy and upgrade business equipment when needed. Businesses will often purchase, replace, repair, or upgrade various equipment to process, manufacture, or produce their product.
Equipment can include cooking appliances, phone systems, computer monitors, furniture, tools, vehicles (for commercial use), specialized equipment, and more.
If your famous pizza shop has reached the point where expansion and new business initiatives will provide a significant profit, acquiring a small business loan may be the best option.
First Union Lending is here to help.
Submit your business information below to determine if you qualify for any available small business loans. Our Funding Specialists will analyze your qualifications and will reach out to walk you through the following steps.
See Your Loan Options
While each of the available loans have varying qualifications, lenders will typically ask for the following general information:
In the past, loans for pizza shops were harder to acquire due to the risk factor within this industry. Traditional lenders and banks often involve collaterals and place a strict repayment schedule - stressing out borrowers who need capital to grow. Online lenders like First Union provide Pizza shops with the necessary funds to grow and succe
If you have questions in regards to restaurant-related business loans, feel free to give us a call: 863-825-5626
Depending on the loan you qualify for, there are many benefits in partnering with a non-traditional lender to gain funds for your business initiatives. The funds from these financing options can solve various foodservice industry issues.
It provides the working capital to allow borrowers to expand their facility or fully renovate it if needed. As time goes on, many pizza shops will require upgrades, repairs, new interior decor, or exterior remodeling to maintain or attract customers.
These funds are not limited to just renovations. Borrowers can use it to enhance your business advertising and equipment if needed. In today's world, internet marketing is a must to create a name for your business. Having a presence on the internet will help keep your small business populating on Google Search results, thus bringing in more customers.
Keeping up with technological equipment is also a must. Point of Sale (POS) systems are continuously enhanced to streamline your business. Stay ahead of the latest upgrades by utilizing the necessary funds. Easier processing and easy-to-use systems will leave a positive impact on your customer and staff experiences.
While utilizing out-of-pocket funds can be expensive, look to a lender to finance your initiatives and keep your business running. These loans can help keep your kitchen running smoothly. Use the funds to repair or replace essential equipment.
At First Union Lending, we have an unwavering belief that small and medium-sized businesses deserve the right to access the capital they need to succeed.
Our goal is to build long-term, lasting relationships by providing business owners with what they need when they need it. We pride ourselves on being educated, knowledgeable, and caring about conducting business. We have voluntarily acquired much of the same licensing traditional banks require to cement our fiduciary responsibility to our clients and work culture.
We are here to consult, help you save, and guide you and your business to success.