Alternative Financing Increasing in Importance for Cash Starved Restaurants

Falling same-stores sales and customer traffic plus restricted access to credit has restaurants seeking new options for loans. This trend explains why FastUpFront has been experiencing double-digit growth in the past six months. A provider of small business financing, FastUpFront enables restaurants to access short-term loans.

FastUpFront is positioned as a life-line for restaurants struggling through this economic climate

Most restaurants, especially independently owned operations, face cash crunches from time to time. Though these are not bad businesses, they are being treated as such by the banks. We are happy to provide the cash flow necessary for these businesses to survive.

Cliffton, NJ (PRWEB) November 10, 2008 -- Restaurant owners are facing an unprecedented crisis in cash flow. The Restaurant Performance Index as compiled by the National Restaurant Association is at its lowest point in history. The index tracks indicators such as capital expenditures, customer traffic, sales volume and labor costs and points to a deteriorating situation across all 50 states. At the same time, the restaurants are being hard hit by the on-going credit crises. Many are being locked out of access to short-term loans essential for operations.

This trend explains why FastUpFront has been experiencing double-digit growth in the past six months. A provider of small business financing, FastUpFront enables restaurants to access short-term loans. These loans are essential for restaurants facing cash crunches and unable to pay for immediate expenditures such as labor and food stock. Since May 2008, FastUpFront has seen an increase of more 34 percent in new clients and 28 per cent increase in volume of financing.

"FastUpFront is positioned as a life-line for restaurants struggling through this economic climate," explains FastUpFront executive, Gary Barzel. "Most restaurants, especially independently owned operations, face cash crunches from time to time. Though these are not bad businesses, they are being treated as such by the banks. We are happy to provide the cash flow necessary for these businesses to survive."

FastUpFront uses a proprietary technology that allows smalls business to receive cash advances paid back through credit card receipts. More than 95% of cash-advance applicants are approved.

The restaurant industry is America's single largest employer. The latest statistics compiled by the National Restaurant Association shows restaurants have never faced a direr economic predicament, with nearly two out of three restaurants reported negative same store sales and traffic in September '08. The Restaurant Performance Index is rated on a baseline of 100, with the September numbers hitting 96.7 after 11 straight months of decline.

FastUpFront has established itself as a leader in the restaurant loans & financing industry by offering simple and effective programs for providing working capital. The unsecured merchant cash advance program makes borrowing money simple and quick, and cuts out the strict application requirements normally associated with bank loans.

For more information contact:

Gary Barzel
Manager of Business Development
1-877-585-7868
gb @ fastupfront.com
www.fastupfront.com

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