Prior to COVID, the restaurant industry experienced growth of about 5% annually. With improvements in the health of our nation, we hope this growth will resume.
People may think that being a good chef is all that is needed in the restaurant business. That is no truer than saying that being a good plumber is what is necessary to be in the plumbing business.
TABASFUNDING provides Hospitality and Restaurant loans to businesses in Southeastern Pennsylvania, Central and Southern New Jersey, Delaware, Delaware Valley, Lehigh Valley, Harrisburg, Allentown, Bethlehem, Easton, and the Main Line.
TABASFUNDING is an Experienced Lender to the Restaurant Business
Lee Tabas, principal of TABASFUNDING was in the restaurant business, starting as a busboy, for many years, and states that in order to be a good restaurateur, or a commercial chef, one needs to have a good capability of doing numbers. One needs to be on top of costs as a percentage of sales at all times. The best chefs will use history to track eating habits from year to year, keeping track of what customers order, how many items are sold, and even the weather.
Here are some examples of restaurant financing:
We provided financing for the head bartender at a pub to purchase the place. While the business financials showed poor performance, we felt that the bartender was in the best position to evaluate whether the pub could make its payments. We backed the purchaser, and were repaid. This is what they don’t teach in business school. See more about this on our Sample Funding page.
We provided funding for a night club started by a personality. We don’t know much about this business, which took longer to turn around than expected, but in the end, it prospered and repaid.
Funding For Franchisees
We also provided funding to several Dunkin Donuts franchisees. We enabled our borrowers to get started on construction while waiting for the slow moving bank backed SBA loan to be approved and in place. Once that came through, we were repaid. Being nimble and able to move quickly is an advantage of TABASFUNDING.
In order for us to help, borrowers will need at least 20% of their required funds from their own resources, family or friends, in cash. Our loans for this purpose often have an interest only period while the operation develops a following and the bugs get worked out. This will be followed by term repayment, between 3 and 7 years. Owners will be expected to guarantee. Please see the “frequently asked questions” section for general terms. Please contact us with your questions, and we’ll do our best to answer.