Caviar partners directly with restaurants to help them expand their dining rooms and reach new customers. Now, to further empower restaurants, select Caviar restaurants may be eligible for funding through Square Capital.
Both Caviar and Square Capital are part of Square, which creates tools that help sellers of all sizes start, run, and grow their businesses. Square Capital facilitates small-business financing with simple payback and no hidden fees. Over the past two years, it’s helped over 140,000 businesses grow with more than $2.1 billion in financing.
Eligible Caviar restaurants will receive their loan offers via email. The application process takes just a few clicks, and upon approval the funds can be transferred into a borrower’s bank account in as little as one business day. Repayment is simple — pay off your loan with convenient automatic deductions from your linked bank account so you don’t need to worry about missing a payment. You can also prepay at no additional cost.
Funding through Square Capital can be spent on whatever your restaurant needs to grow.
At the beginning of 2017, we asked 7,000 sellers (1) who accepted loans through Square Capital to tell us how they used their funding. Here are the top ways that they used their funds:
- Inventory: Purchasing inventory is a common use case for businesses looking to manage seasonal dips, replenish stock, or try out new products.
- Equipment: It’s common for small businesses to need a loan to fund large purchases like a new refrigerator, an industrial mixer, or a new grill.
- Day-to-day expenses: Keeping the lights on — and things running smoothly — requires both time and money.
- Refinancing or paying other debts: Consolidating debt can be a smart way to use small-business financing, but you should always discuss the options with your financial or legal advisor first.
- Marketing: To grow your business, it’s imperative to get new customers in the door and keep loyal customers, well, loyal. Whether it’s through social media, email, events, or more traditional paid media, marketing could be an effective way to stimulate your business.
Maybe one of the use cases listed above makes the most sense for your business. Or maybe your business would benefit from adding new menu items, entering a new market, or opening a new location. Whatever it is, funding through Square Capital could help you realize it.
Learn more about Square’s full suite of solutions for businesses.
(1) The January 2017 Survey conducted by Square Capital represents a mix of respondents who accepted merchant cash advances and loans through Square Capital from January 2016 to December 2016.
This communication is for informational purposes only and is not intended as financial or legal advice.
Square and the Square logo are trademarks of Square, Inc. Other trademarks and brands are the property of their respective owners. Square Capital, LLC is a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC, located in Salt Lake City, UT. Loans are not issued to borrowers in ND and VT. The individual authorized to act on behalf of the business must be a U.S. citizen or permanent resident and at least 18 years old. Valid U.S. bank account and Social Security number or Individual Taxpayer Identification Number are required. Actual fee depends upon transaction history and loan amount. Full loan repayment is required within 6 months from the origination date of the loan. All loans are subject to credit approval. PTMY1017.