Restaurant: Restaurants are constructed for the purpose of preparation and sale of food and/or beverages, which include cafeterias, bars, and taverns, where design is of restaurant type.

Everyone loves to go out to eat, but not everyone can run a restaurant. A great many restaurants fail, and fail quickly, and lenders know this. Consequently, traditional banks will only lend on established restaurants with a proven track record.

While the loan is on the real estate, the business is really what provides the income to support the debt service. Start-ups have no chance at a bank, and require a principal with good credit, a good resume, and experience actually running such a property. Start-ups are something that Elite Commercial Lending finances, however the owner must have experience in marketing, staffing and accounting.

We can finance restaurants through some of our SBA financing sources, including the 504 program as well as financing directly with banks and lending institutions that we work with regularly.