Compare ^{Business Loan} Options For 100k Restaurant Fit-Outs

A secured business loan allows restaurants to borrow amounts from £50,000 to £500,000 over 6 to 60 months, typically with interest rates from 3% to 10% APR. Approval requires at least 2 years of trading and valuable assets such as property or equipment. The process includes collateral assessment by the lender, usually taking 2 to 3 weeks, and is ideal for significant fit-out projects like kitchen upgrades or extensive refurbishments.

Unsecured business loans offer funding from £5,000 to £250,000 for 12 to 36 months, with rates typically from 7% to 25% APR. Suitable for restaurants trading at least 2 years with good credit, these loans require only a credit assessment and are often approved within 1 to 2 weeks. They suit fast turnaround needs, like smaller refurbishments or new furniture purchases, where fixed assets aren’t available as security.

Asset finance is commonly used to lease or purchase kitchen equipment or furniture, with borrowing up to £500,000 and terms from 12 to 84 months. Interest rates typically range from 5% to 15% APR based on asset value, and decision timescales are around 1 to 3 weeks. This type of finance supports growth and upgrades without heavy upfront costs, ensuring your restaurant can access vital assets immediately.