Merchant Cash and Capital offers business financing to restaurants nationwide. See below for merchants funded in your industry.
Merchant: Steak House
MCA Amount: $100,000
Highlights: Merchant Cash and Capital is advancing $100,000 to a popular steak house restaurant located in New York City. The business has been in operation since 1993 and is frequented by MCC’s very own! As credit card processing is steady all year round for this steak house, it averages $125,000 in monthly credit card sales and an average of $260,000 in monthly gross sales. The business plans to use its restaurant financing for upcoming taxes and cash flow. This will be the merchant’s first cash advance with Merchant Cash and Capital.
Merchant: Greek Restaurant
MCA Amount: $95,000
Highlights: Merchant Cash and Capital is advancing $95,000 to a rapidly growing Greek restaurant located in New York. This is a family owned restaurant that has been in operation since 2011. The business is profitable with no additional debt. In fact, due to the growing popularity and demand of its current location, plans to open up a second location are in the works. The merchant plans to use the restaurant financing for renovations and to purchase new equipment.
MCA Amount: $55,000
Highlights: Merchant Cash and Capital is advancing $55,000 to a multi location pizzeria located in Florida. This popular and large eatery serves New York style pizza and seats up to 100 patrons. The locations process an average of $45,000 in credit card sales a month and gross $250,000 in average monthly sales. The pizzeria would like to use its MCC merchant loan alternative funding as a down payment for property to open a new location on. This will be the merchant’s first cash advance with MCC.
Merchant: Indian Restaurant
MCA Amount: $40,000
Highlights: Merchant Cash and Capital advanced $40,000 to an Indian restaurant and buffet located in California. This successful restaurant offers an Indian cuisine menu and an Indian lunch buffet on the weekends. This is a relatively clean deal as this MCC premium merchant has no tax liens and a healthy bank balance. The eatery’s average ticket size is $28, and the restaurant processes an average of $30,000 a month in credit card sales. This MCC premium merchant has a good use of funds as he plans to re-carpet the restaurant and to reupholster the seating in the restaurant. The restaurant does not plan to close through these renovations. This will be the restaurant’s first advance with Merchant Cash and Capital.
Merchant: Sports Bar and Grille
MCA Amount: $100,000
Highlights: Merchant Cash and Capital advanced $100,000 to a Greene Turtle Sports Bar & Grille located in Maryland. The franchise is a full service restaurant, and this will be the merchant’s first merchant cash advance with MCC. The location processes a monthly average of $100,000 in Visa/MC sales, and is quite seasonal. Its location is the main reason it generally experiences a slower summer as they are positioned more inland, and faces competition from restaurants on the shore when the summer months allow for outdoor activities. This diamond merchant did 1.5 million in sales in 2011, and regularly participated in various charitable events to share their profits in a generous way. The restaurant plans to use the business financing as a cash flow cushion for the upcoming slower summer months. Although there was an issue with respect to past due rent, the landlord confirmed that the merchant was considered a quality tenant that it expected to occupy the space for many years.
Merchant: Restaurant and bar
MCA Amount: $44,000
Highlights: MCC agreed to provide a $44,000 business cash advance to a bar and restaurant in Florida. This will be the merchant’s third advance with MCC and it is currently performing very well. The business is family owned and has been operating for seven years. The owner also owns the property and is current on its mortgage. The business is open from breakfast through two in the morning and is not seasonal. The restaurant financing will be used to improve the patio as well as make improvements to the bar. Considering its local popularity, this was a relatively easy vote for MCC’s Credit Committee.
Merchant: Quick Service Restaurant
MCA Amount: $63,000
Highlights: A multi location QSR in Arizona just received a $63,000 business cash advance from Merchant Cash and Capital. This popular restaurant specializes in various local Chicago style foods. Their oldest location opened four years ago, and their most recent unit opened in 2010. The locations credit card processing volumes are consistent and there is little seasonality. The merchant had a prior advance with another cash advance provider and demonstrated a solid payback history. The merchant plans to use its MCC funds for expansion, by opening an additional location. The merchant would also like to consolidate some debt, and buy some equipment for its kitchen. This will be the restaurant’s first merchant cash advance with MCC.
Merchant: Restaurant and Grill
MCA Amount: $85,000
Highlights: Restaurant financing in the amount of $85,000 was provided by MCC to a multi-location restaurant and grill located in Florida. This businesses first location opened in 1996, and the newer location has been operating since February 2012. Sales are steady and profitable, but the business is highly seasonal and processing volume can dip as low as 50% during the summer. The owners have vast experience in the industry as they had previously managed a lounge in New Jersey for ten years. The business plans to use their MCC business cash advance to do some renovating of their units, and to use the rest of the funds as working capital. Seasonal businesses are always a challenge for merchant cash advance companies, as underwriters are always concerned with the proposed program length and the pace at which the purchased amount will be collected. In this case, with the business approaching its slower season, the MCC underwriter adjusted the holdback percentage to take the seasonality into account. In a targeted industry, the underwriters make great efforts in an attempt to fund.
Merchant: Italian Restaurant
MCA Amount: $16,000
Highlights: An Italian restaurant located in Massachusetts has been an MCC merchant since 2009. They were on their eighth business cash advance with MCC, and were also 16% ahead of pace in payback. In total, they have paid MCC back just a little under $2 million. The restaurant’s credit card processing and volume was also up from their previous quarter. However, that is where the pros ended, and where the cons started. The merchant and his business are back for their ninth advance in January 2012, but their credit has dropped significantly. They are also currently not paying off any of their bills, and have been cut off by their local vendors and suppliers. The merchant is now personally going down to local markets to get his inventory. The merchant has also been in a personal bankruptcy before, and now owes two months of rent to his landlord. With all these factors in mind, MCC wondered if the merchant’s relationship with MCC was on its last leg. After much deliberation, MCC decided that there was still room to help the merchant on a shorter program, and he will be put on a downgraded bridge advance. MCC provided them $16,000 in business financing.
MCA Amount: $120,000
Highlights: MCC provided restaurant financing in the amount of $120,000 to a multi-location pizzeria. The owner currently has 4 restaurants in Maryland, and is looking to add a fifth one. This merchant and his businesses have been working with MCC since September 2010, and are looking to use MCC’s small business funding again to help with their business expansion. This will be advance number five with MCC, and things are just starting to heat up in the kitchen with MCC’s dough.
Merchant: Japanese Restaurant
MCA Amount: $77,000
Highlights: MCC advanced $77,000 of restaurant financing to a Japanese steak house in Iowa that had taken two prior advances from MCC in January 2011. The merchant feels that an MCC merchant cash advance is a great product to help him grow his small business. The merchant was seeking a third advance to help prepare for the upcoming holiday season. The steakhouse will be using the small business funding to prepay its vendors for inventory and supplies. With sales now increasing, MCC is the perfect catalyst for this restaurant to continue to grow.
Merchant: Chinese Restaurant
MCA Amount: $74,000
Highlights: MCC is advancing $74K to a Chinese restaurant looking for a business cash advance. Located in California, this is a busy and successful business with sales up thirty percent in 2011. This ideal merchant has outstanding financials and no debt on the business. Their initial advance in November 2011 was used for bank judgments issues. However, this time around, funds will be for business growth and expansion. The merchant plans to use their restaurant financing to buy more inventory and equipment for the kitchen during the winter vendor sales. The restaurant also plans to expand into new catering and cafeteria distribution accounts, targeting large local businesses. With good use of funds and bank accounts all in order, this is the second MCC advance for this Gold merchant.
MCA Amount: $50,000
Highlights: Merchant Cash and Capital advanced $50,000 to a pizzeria chain in Vermont. As the winter holiday season approached, the merchant expected a busy period and an uptick in sales. As of late November 2011, the owner was looking to use its restaurant financing to tidy up his restaurants, and to purchase some new equipment. This will enable the operator to produce more food in a shorter time frame, a nice way to kick off the holiday season.