Waitbusters, LLC announced today that they have partnered with Quikstone Capital Solutions to assist restaurants in need of financial assistance post-Covid-19. Quikstone Capital has been in business since 2005 and provides merchant cash advances to restaurants and countless other businesses who need a faster, more flexible solution that a traditional loan.
According to Shane Gau, CPO of Waitbusters, LLC, “We are extremely excited about this partnership because it aligns to a tee with our mission which is to help independent restaurants not only survive but thrive during these troubling times. Over the past two years, many of our restaurant partners have come to us saying that they are in desperate need of working capital to help increase inventory, hire staff and/or buy new equipment. We believe this partnership with Quickstone Capital will alleviate their financial burdens and allow them to grow in this new post-Covid 19 landscape.”
The financial assistance couldn’t come at a more crucial time. According to a recent survey from August of 2022 by the National Restaurant Association Research Group, soaring costs across all parts of the restaurant business are creating challenges for restaurant operators. Restaurant operators claim their costs are at an all-time high compared to pre-pandemic levels. Over 80% of restaurant operators say that their food and beverage costs, labor costs, utility costs and overall operating costs, including supplies are higher than in 2019. While some had access to SBA loans, many were not able to get government assistance or bank loans and are struggling. While restaurants continue to cut corners and increase menu prices to continue operating, being able to access cash quickly is crucial.
The benefits to a merchant cash advance over a traditional bank loan include:
- Fast approval times (typically 48 hours)
- No collateral required
- Shorter payment terms
- Payment is based on a daily percentage of the sales received vs. set monthly payment
- Available to those with less than perfect credit
Restaurants interested in obtaining a merchant cash advance can apply here.
Waitbusters LLC, a service-disabled veteran owned company, is a provider of innovative restaurant technology solutions. Its Digital Diner solution offers restaurants the ability to create better experiences for their guests, save money, create new revenue streams, become more profitable, and find and retain happy customers.
Waitbusters Digital Diner provides:
- Online Ordering & Commission Free Delivery
- Delivery as a Service
- Delivery Driver Logistics
- Contactless Dine In
- Wait Line, Reservation & Table/Server Management
- Social Media Marketing
- Loyalty Program
- SMS Text Message Marketing
E-mail sgau@waitbusters.com to schedule a demo or check out www.waitbustersdining.com.
Based in Tampa, Florida, Quikstone Capital Solutions provides merchant cash advances to businesses nationwide. Merchant cash advances provide businesses with access to working capital that is faster and more flexible than traditional bank loans. Quickstone Capital’s business cash advances generally range from $5,000-$250,000 depending on the business size and type. For more information, go to http://www.quikstonecapital.com/waitbusters or call 866-456-5638.
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