Restaurant Loans

Restaurants are finding innovative ways to combat rising costs and declining foot traffic. Many are adopting technology like online ordering systems and automated kitchens to streamline operations and reduce labor expenses.

• 76% of restaurants expect technology to give them a competitive edge
• 10% of food purchased by restaurants is wasted before ever getting to guests

Simplified menus focused on popular items are cutting down waste and improving profit margins. Additionally, ghost kitchens help lower overhead costs while catering to the demand for delivery. Restaurants are also using loyalty programs, targeted promotions and social media engagement to attract more customers and stay competitive. These strategies allow restaurants to balance expenses while driving revenue growth.

For restaurants facing these challenges, an SBA loan from First Bank of the Lake can be a game-changer. SBA 7a loans offer working capital for upgrading technology, covering payroll, or marketing efforts. For larger investments, such as equipment purchases, or expanding into a ghost kitchen, SBA 504 loans provide long-term, fixed-rate financing. First Bank of the Lake has helped many restaurants navigate these options with personalized support, ensuring you get the right loan to overcome financial challenges and thrive. With more than $1.1 billion in SBA loans, First Bank of the Lake is skilled at helping small businesses seize opportunity.