The Good Food restaurant had quickly become one of the busiest establishments in the local area. They were known for providing fresh ingredients and had gained some notoriety for their Mother’s Day brunch. In fact Mother’s Day was the busiest day of the year at The Good Food restaurant. Last year just four days before Mother’s Day The main grill broke down. Knowing that on an average Mother’s Day the establishment turned out an estimated 500 meals an hour, the break down seemed devastating.
With little time before the big day the owner contacted a business finance company like DB Squared. They informed the restaurant owner that there was financial product that worked especially well for the restaurant industry and provided fast funding: A Merchant Cash Advance!
The restaurant owner chose to fund the purchase of a new grill from future credit and debit card receipts. The funding was set at 150% of an average month's credit and debit card volume. Since most people pay for their meals using credit or debit cards this option was perfect for The Good Food restaurant.
The Good Food restaurant had the most successful Mother’s Day ever!
The amount was repaid through a split funding arrangement between Good Food's merchant processor and the business lender.
We encourage you to learn more about
Merchant Cash Advance from DB Squared.