Improving Your Restaurant’s Credit Score

Many restaurateurs start their business with a dream and a plan to invest their personal savings to provide an excellent dining experience to their customers. From the very launch of a restaurant business, however, finances need to take pole position in one’s list of priorities, since everything that will make or break it– finding the most talented chefs, sourcing top quality produce, or possibly expanding in the future, depends on how stable your finances are.

Why is a Solid Business Credit Profile So Important?Your restaurant may be making profit and you may be building an excellent reputation in your area, but you never know when the chance will arise to expand… perhaps open a second restaurant nearby or even in another city with a strong demand for the cuisine and ambience you have dreamed up.

Expansion normally means either partnering up with other entrepreneurs or obtaining a loan, and the first thing prospective lenders or partners will look into, is your credit…