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Industry:

Restaurant

Financing product:

Working capital loan

Use of funds:

Purchasing equipment, hiring and training staff

Taking advantage of timely opportunities

Credibly quickly provided working capital to this restaurant to help them reinvest in their business

“Devin Scott is professional, responsive and very efficient. He’s truly a pleasure to work with and executes every step to the finish line with the utmost care and attention.”

- Restaurant Owner

From dream to reality

This full-service restaurant had its beginnings in 2021, bringing flavorful Southeast Asian cuisine to its local neighborhood. 

Having many family members in the same industry, the owner, who wished to remain anonymous, had always dreamed of opening their own restaurant. 

After three years of operation, they were ready to grow their business and looked to additional financing to purchase upgraded equipment, hire and train additional staff, and pay off prior high-interest loans.

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Turning challenges into opportunities

As inflation rose through the past year, the owner saw increasing ingredient costs and shortages, making her operations more expensive.

However, she saw opportunities to make her restaurant more efficient. She first decided to upgrade outdated kitchen equipment, which included new deep fryers and an automatic dishwasher. 

While there would be a larger upfront cost for the equipment, she knew that they’d ultimately help her reduce overhead costs and increase output, meaning she’d be able to continue serving great quality food.

In addition, despite the challenges inflation brought, her revenues were steadily increasing so she also wanted to use the funds to hire and train new staff.

The right financing solution, fast

The owner’s point-of-sale (POS) system offered working capital financing to their customers; however, their interest rates were too high for her to continue pursuing that option. 

She turned to Credibly after researching several financing options and seeing the ease of working with our financing experts. 

The owner particularly appreciated the speed with which she could be approved for financing. With the busy summer season approaching, she needed a fast turnaround to prepare her business.

From initial request to getting her requested funds, the entire process took three business days, giving her ample time to reinvest in her business.

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“It was really, really easy working with Deven. Everything happened within the span of 72 hours. It was very straightforward. I got a response quicker from Deven than I would applying for a regular credit card.”

- Restaurant Owner

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Choosing the right financing partner

Credibly was able to quickly provide this owner with a working capital loan that suited her needs. Ultimately, the factors that influenced her decision to choose Credibly as her financing partner were:

  • A quick turnaround time for funding
  • Responsive financing experts
  • Collaborative approach to understanding needs when other providers may say “no” outright

“Credibly was able to work with me on my specific situation and give me options. They didn’t just completely shut the door on me unlike others.”

- Restaurant Owner

Tapping into opportunity with business financing

Business financing can help you take advantage of timely opportunities to grow your business. However, the road to getting approved for financing may be an obstacle. That’s why working with a financing provider that strives to understand your unique goals and situations is important.

Having a knowledgeable resource can help you navigate a potentially complicated business financing process.

Credibly financing experts strive to be true partners for business owners. Learn more about our business financing options here or fill out the form below to get in touch with one of our advisors. If you’d like to see how other business owners enjoy working with us, check out our reviews on Trustpilot.

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