Opening a new restaurant or expansion of an existing business requires a lot of new equipment. This poses many challenges on top of costly equipment expenses. Restaurant equipment financing through FaaS, or Financing as a Service, is the solution that is making these pitfalls a thing of the past.
Point-of-Sale systems, vents, hoods, ranges, ovens, dishwashers… the list literally goes on and on. On top of the logistical nightmare of coordinating the infrastructure from the front of the house, to the back, one of the biggest challenges is finding the capital necessary to obtain it all.
Most of the time, it’s difficult for your customers to just hand over the cash for this pricey restaurant equipment up front. There are multiple ways for them to get the money needed, but sometimes it’s hard to discern which option will work best for their unique business and situation. There are numerous alternatives to finance restaurant equipment, and it’s FaaStrak’s mission to provide a way to make that easier for you. Our goal is to help you close more deals, make more money and maybe most importantly, keep your customers happy!
Competition is everywhere. With so many options for restaurant equipment financing, how can you be sure that your customers are making the best choices for their business? A simple, clear financial choice that makes the decision easy is the difference with FaaStrak. We are disrupting the restaurant equipment financing industry by automating the process of securing an equipment leasing loan. We are cutting out the traditional equipment financing broker. We save you time with a transparent and smooth application process. We increase profits by eliminating inflated rates and helping you close more deals. With access to our lender marketplace, your customers are matched with the best lender, everytime. Giving your customers the highest chance of approval, paired with lightning FaaS approvals is how we are changing the game and giving restaurant equipment vendors the competitive edge.
Restaurant Equipment Financing vs. Buying
Buying restaurant equipment – point-of-sale systems, entertainment systems, kitchen equipment – all come with a hefty price-tag. Often, it makes more sense for businesses to take out a loan in order to finance these large expenses. Restaurant equipment financing frees up capital so they can spend it on other vital restaurant needs, and it gives them an opportunity to grow without that initial setback of buying the equipment outright. WIth FaaStrak you can give your customers the best chance of approval. More approvals, and better rates allow your business to close more deals and make more money.
The Application Process
Integrating with FaaStrak is quick and easy, and our white-labeled application process is simple and intuitive for your customers to navigate. It takes about 30 seconds to apply for the restaurant equipment they need, and only a few more to submit the financial requirements. They’ll fill in their basic information and business type, and after they submit, they’ll be able to follow their application while it’s being approved by the lender. You’ll be able to track the entire process in real-time on your user portal. For you, this means an easier way for your customers to get financing, and a quicker way to facilitate and finalize your deals.
Receiving the Funds
Most of the time, businesses need to go through a bank or loan source to get funding for their restaurant equipment financing needs. Going directly to each entity can take hours, even days, or weeks in worst case scenarios. Even then, they don’t know if that financing option is the best for their situation. FaaStrak matches your customers up directly with the loan option that fits them best, and that fits their specific financing needs. Our smart application automatically shows them their lowest-rate options. Better options will make your customers more inclined to finance your restaurant equipment. More savings for them and more deals for you. Plus, you can track the application throughout the process.
The Time Commitment
Traditionally, applying for loans – especially as a new business – takes up time that could be spent actually getting things done. Multiple applications, keeping track of multiple documents, and talking to multiple brokers or agents can get confusing. That’s why FaaStrak uses just one application. Our goal is to get your customers approved quickly and funded just as FaaS. Then, they can get down to business.
Your customers are important to you, and FaaStrak understands this and FaaStrak understands your customers. The easier it is for them to finance their restaurant equipment, the happier they are. Happy customers help your company thrive. When your business thrives, we’ve done our job. FaaStrak gives you a way to give customers more restaurant equipment financing options, and does it all on one easy platform. Navigating the financial world is already hard enough – make it easier with FaaStrak.
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