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Bank Statement Loans for Restaurant and Retail Owners
Daily sales, thin margins and lots of vendors. Statement review reads the rhythm of the shop.
Restaurants and retail stores show many small deposits from card processors and cash. Lenders often reduce these deposits with a higher expense factor, because inventory and payroll take much of the revenue.
Why statements fit restaurant and retail owners
A store or restaurant has daily deposits that reflect real volume, but costs of goods, payroll, rent and utilities are heavy. A return can show a modest profit while the account moves a great deal of money.
How a lender reads your deposits
Card processor deposits are usually easy to trace. Cash deposits are harder, and a lender may exclude what it cannot support. With so many costs paid from the same account, the reviewer pays attention to payroll patterns, vendor payments and lease obligations.
What to watch for
- Cash deposits that are not matched to sales records.
- Payroll or lease payments that appear unusually high.
- A recent change in location or owner.
- Seasonal swings in tourist areas.
Documents to gather
- Business statements for the window
- Processor statements showing monthly sales
- Lease or ownership documents
- Proof of business licenses and permits
- A letter from a tax professional where the program uses one
General information only. Each program sets its own rules, and a lender must verify your income and ability to repay.
Related
- What you need to prove
- How expense factors work
- Small business owners
- 1099 contractors
- Gig workers
- Doctors and dentists
Restaurant and retail owners by city
- Restaurant and retail owners in Charlotte, NC
- Restaurant and retail owners in Durham, NC
- Restaurant and retail owners in Charleston, SC
- Restaurant and retail owners in Greenville, SC
- Restaurant and retail owners in Myrtle Beach, SC
- Restaurant and retail owners in Richmond, VA
- Restaurant and retail owners in Houston, TX
- Restaurant and retail owners in Austin, TX
- Restaurant and retail owners in San Antonio, TX
- Restaurant and retail owners in Tampa, FL
- Restaurant and retail owners in Orlando, FL
- Restaurant and retail owners in Miami, FL
A loan officer who works with restaurant and retail owners
Apply online or call, and we will tell you what to pull together first.
Frequently asked questions
Is a franchise owner treated differently?
A franchise is still a business you own. Lenders may ask for the franchise agreement and an ownership statement.
Can I use a restaurant's statements if I have partners?
Yes, with proof of your share. The lender counts only your portion.