Finance for a Takeaway Business

Opening a or running takeaway business can be a great way to earn a living, but it’s important to make sure you have the right financial backing in place before you get started.

Taking out a business loan is one option, but it’s important to shop around and compare rates before you commit to anything. You could also consider using your own savings or raising money from investors. Whichever route you choose, it’s important to have a solid business plan in place so that you can make the most of your finances.

Taking out a loan is one of the most common ways to finance a takeaway business. Business loans are available from banks and other lending institutions, and the interest rates can vary considerably. It’s important to shop around and compare rates before you take out a loan, as you don’t want to end up paying more than you need to. If you’re taking out a loan, make sure you have a solid business plan in place so that you can convince lenders that your business is worth investing in.

Whichever route you choose for financing your takeaway business, it’s important to have a solid plan in place so that you can make the most of your finances. Take care when taking out loans, use your own savings wisely, and pitch your idea well to potential investors if you want to give yourself the best chance of success.

Takeaway Business Finance

Takeaway business owners should be aware that there are a few key financial considerations to keep in mind when looking for finance for their businesses. First, it is important to have a clear understanding of your startup costs. This includes everything from the cost of ingredients to the price of rent or lease for your kitchen space. Once you have an accurate picture of your startup costs, you can begin to develop a pricing strategy for your menu items.

It is also important to keep careful track of your expenses on an ongoing basis, as this will help you to identify areas where you can cut costs or increase efficiency. Finally, it is crucial to have a solid plan in place for marketing and promotions, as this will be one of the most important determinants of your success. By taking the time to thoroughly understand the financial side of running a takeaway business, you can give yourself the best possible chance of success.

Type of Business Finance for Takeaway’s

The following types of takeaways business finance are available to business owners across the UK:

Unsecured Business Loan

An unsecured business loan for a takeaway is a loan that is not backed by collateral. This means that the lender is taking on a greater risk, and as a result, the interest rates are usually higher than for secured loans. Unsecured business loans can be used for a variety of purposes, including working capital, equipment purchases, or expansion.

One of the main advantages of an unsecured loan is that it can be obtained even if the borrower does not have any assets to offer as collateral. However, because of the higher risk involved, lenders will usually require the borrower to have a good credit history and to provide financial statements in order to qualify for an unsecured business loan.

• Borrow £1,000 up to £500,000 +
• Does not require any asset security
• Flexible repayment terms from 1 month to 5 years +
• Minimal paperwork required
• Funds can be released quickly after approval
• Short to medium term lending solution
• Keep your company assets safe

Merchant Cash Advance

A merchant cash advance for a takeaway is a type of funding that allows businesses to borrow money against future sales. The lender provides the funds upfront, and the borrower repays the loan over time through a portion of their daily credit card sales.

Merchant cash advances can be an attractive option for businesses that need quick access to capital, as they typically have a shorter repayment period than traditional loans. However, merchant cash advances also typically have a higher interest rate than other types of financing, so it’s important to carefully consider the costs and benefits before taking out this type of loan.

• Apply in minutes for £5,000-£200,000
• You pay back only when you earn – no fixed monthly payments
• You keep 100% of your income from cash sales
• One clear cost, no APR
• No up front fees, hidden charges or penaltie
• Over 80% of businesses are approved
• Quick and easy application process with minimal paperwork and no accounts require

Just Eat Partners

Just Eat Partners can gain business finance up-to £200,000 with our Just East Business Loan alternative. If your take away business sells via the use Just Eat Business  platform we can offer you a merchant cash advance, this type of funding advances future card receipts if you accept payments via a card terminal in store or online.

We have partnered with Just Eat and are able to exclusively offer all Just Eat businesses a 5% cash back on all paid back Business Cash Advances!

Our payment terms work at the same pace as your business, with no APR applied and without hidden fees as well as no late payment penalties. A cash injection can help support your Just Eat food led business during these challenging times. This ensures you only pay back when you get paid!

How our Takeaway Funding Works

Our funding is designed specifically for takeaway owners looking to access between £5,000 and £200,000 in unsecured finance. In order to qualify for takeaway financing, your business will need to have been trading for a minimum period of six months or more. You’ll also need to generate at least £5,000 in monthly credit and debit card sales.

Our dedicated funding advisors will help you throughout the entire process, from applying for financing to receiving your funding. Once you have been approved, you will receive the complete amount of funding as a lump sum in your takeaway businesses bank account. Repayments of the cash advance are made by a small agreed percentage of your total credit and debit card sales every month to repay the cash advance for takeways.

This way, there’s no need to worry about a set monthly payment. When business is good the repayments for the merchant cash advance are made quicker. Should your business slows down, you’ll be able to only pay a small amount that doesn’t affect your monthly cash flow. Our funding works in the same was as a business loan for cafe or takeaway. So you have the confidence you are in control of your business and finances.

The takeaway business cash advance can be used for many different purposes. You may wish to use it to invest in new stock, move your business to a new location, or help to bolster the marketing that will gain you new clients, it’s entirely up to you. You can apply for a free, no obligation quote today and find out if your takeaway business qualifies for our services.

You could use a Takeaway loan in the following ways

A business loan for a take-away venture is most commonly used for:

• Training new staff
• Purchasing new stock or equipment
• Refurbishing premises
• Relocation
• Advertising
• Helping with cash flow
• Building a new website
• and even more

Check if you’re eligible for a Takeaway business loan

Visit our application page and provide the relevant information. This will ensure that we match you with an ideal lender. We will then ask you for further information about your business. You’ll need to be ready to tell us the following:

• The name of your business
• How long you’ve been in business
• Your average monthly card sales
• The amount your takeaway business is looking to borrow

Step 2:

Will will then require a few personal details, so please be ready to tell us:

• Your title, along with you first name and surname
• The person in the business that is seeking a loan
• Email and telephone number, so that we can stay in further contact with you

Step 3:

Read through our terms and conditions carefully, and if you’re happy to continue, click ‘get a quick quote’. From here your application will be processed and reviewed by a member of our business finance suppliers team, who will help you find the correct lender for your business loan.

Step 4:

We will then be in touch with you to confirm the conditions of your loan/finance agreement.

Step 5:

Once the application is complete, it will be sent off and approved by a lender. You can then have a discussion with them regarding the terms of the loan. These terms will include interest rates, as well as how much the borrower will repay each month. The loan is then provided to you on an agreed and transparent basis

FAQ’s for the Takeaway Industry

Do I need a good credit rating to get a business loan for my takeaway?

The answer is yes, but ever alternative business loan we offer is on a case by case basis so please try. As our funding is on your future sales via a card terminal we keep an open mind.

How much can I borrow?

It is dependent on your business card sales, so if you take £10,000 per month via a card terminal we will advance you £10,000

Ho quick can I get funded?

To receive funding it takes between 3 - 5 days start to finish.