Feeding Your Business
Cash Flow Needs
If you haven’t already, now might be the time to think about catering business loans. Funding can be a great way to overcome cash flow problems or deal with a staffing challenge. A good loan
for food caterers can help you get ahead without excess debt.
In practice, the need for loans is simple. Caterers face a heavily
gig-focused business model. If you have a consistent supply of customers, then you may not have trouble. But chances are you face seasonal fluctuations. In spring and summer, weddings and big outdoor parties probably lead to more demand. At the holidays, special events, such as office parties, can drive demand. At other times of the year, the supply of gigs can go dry.
Seasonal demand is just one business challenge facing caterers. The right catering business loan can better your business solely.
An Alternative Approach to Catering Business Loans
Most caterers face a core business problem that, when combined with seasonal fluctuations, can cause major cash flow issues. That problem is one of capital. Until you get paid, you don’t have cash on hand to cover expenses. But when you get a gig, you need supplies. Some caterers – rather than considering catering business loans – will dip into personal assets as they’re getting started to finance their needs. While this may suffice in the short-term, this isn’t a good long-term strategy. Over time, you’ll need a kitchen, equipment, and of course, the ability to purchase food. You can take partial payment prior to an event to help float early costs, but that won’t cover everything.
This cash flow problem can leave caterers stuck. Traditional catering business loans from a bank aren’t really an answer either. You won’t get far going to a bank saying you need $50,000 within a week so you can prep for a big event. Banks simply don’t get enough value from such small loans. Their application processes are also long and complex.
Alternative lenders like A1, on the other hand, are a natural fit for catering business loans. They build their lending process around
a quick, online application and small, short-term loans.
That’s why we’re great for catering business financing because
we give you ready cash that you can use as you need it.
This can help you deal with cash flow problems and help you invest in your business.
Use Financing in Your Foodservice Business and
Obtain a Commercial Kitchen
If you are currently using your home kitchen for your catering business, it can be limiting your growth potential. The business funding can be used to help get your food prep and cooking out of your home and into a commercial cooking facility. Catering business loans from an alternative lender can provide the necessary working capital to build, rent or buy that commercial kitchen. It’s really up to you, but catering business loans give you that financing flexibility.
Have you ever had someone come to you asking if you could handle an event that you just didn’t have the staff for? You’d love the business, but you find out there will be way more guests than you can handle on your own. You need staff, but you can’t afford to make long-term hires. Catering business loans can cover pay for one-time hires to help with prep work and service. From there, you can use the proceeds of the event to keep that staff on for your next big project or pay back the loan right away.
Getting a Food Truck
Many caterers will use food trucks as a portable prep station
where they can store prepared food and finish up dishes.
Driving to a venue and being ready to get to work can make life easier and give you access to contracts at locations without kitchen facilities. Using catering business loans to purchase a specialized vehicle can provide more mobility to your foodservice business.
As a caterer, you may not want to function the same way as a restaurant business, but dabbling in the world of food trucks
can give you exposure that pays off down the line.
Supply Chain Solutions
The entire foodservice industry is seeing growing demand for sustainable solutions. From food sourced from local farms to composting and other green waste management options,
caterers can do a lot to drive sustainability. For example,
partnering with local farms for produce or livestock, will yield
high quality produce at a good value. The opportunities are there, but they require some upfront business financing to cover initial costs. Catering business loans can help you get your supply chain plan into action.
Why Choose A1 for Your Catering Business Loan?
Simple application process
Business loans of up to $15 MILLION
Receive funds within 24 hours
No hidden fees
Early payoff discounts
Flexible loan term options
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Small Business Loans Designed for Your Catering Service:
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Catering Business Loans Offered by A1
Whether you need equipment financing for commercial kitchen items or short-term financing to cover a cash flow need, A1 Financial USA can help. The small business loans we provide let you pursue a growth strategy, rather than a one-time fix. We get to know your catering business and help you find the right loan that will fit your specific needs. During the process, we’ll take the time to assess your loan application in light of your business plan and your local market situation. We’ll accomplish this while still getting you the funding in just a matter of days. Learn more about catering business loans from A1, get in touch with us today.
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