What if we tell you it’s not difficult to manage the ghost kitchen funding at all?
We know how hard it is when you run out of funds and can’t manage your operations regularly.
Additional funding can help with continuing your business operations in difficult times.
But many ghost kitchen owners don’t worry about this aspect unless they go through this problem.
Don’t worry we’ve done all the hard work and we won’t let you fail because of the lack of funds.
We’ve found information about the most valuable ghost kitchen funding options that you can use to manage your finances in the difficult times.
It means you won’t have to go through the stress of losing all your efforts because of the lack of funds.
Let’s take a look at the ghost kitchen funding options you can use in difficult times.
Ghost Kitchen Equipment Loan
This funding option is somehow similar to the restaurant equipment loan. The only difference is that you can get up to $150,000 under this program.
On the other hand, the restaurant equipment loan enables you to get $500,000 in the form of a loan.
However, the amount offered for ghost kitchens is enough for buying the essential equipment that may help with running your business efficiently.
In most cases, the banks ask you to pay a partial amount of money as a down payment. But there are some programs where you can get the loan without having to pay a down payment.
Obviously, the interest rates for these programs are higher. Therefore, we recommend choosing the programs that require a down payment.
SBA Loans are also a great ghost kitchen funding option you can use to manage your finances.
These loans are very common among small business owners but the ghost kitchen owners can also take advantage of these loans.
Before you think of applying for SBA loans, we’d like to mention that the approval rate for these loans is very low.
The funding needs to be backed by the collateral and personal assurance once your request is approved.
But if you managed to get the SBA loan, it will save you a lot of money in the long run because these loans come with lower interest rates.
Crowdfunding is one of the best ghost kitchen funding options. With this option, you can get enough amount to manage your daily operations.
There are many investors on crowdfunding platforms that are always ready to put their money into a crazy idea.
And ghost kitchens are considered to be one of the best investment opportunities on these platforms.
So, it’s a win-win situation for both the ghost kitchen owner and the investors.
It’s worth knowing that interest rates for crowdfunding programs are higher than the banks and other traditional loans.
But you won’t have to go through the strict approval process on these platforms.
We can say crowdfunding is the ideal option for ghost kitchen owners who couldn’t satisfy the bank authorities for a loan.