FAQ: How to finance restaurant equipment

When people hear the word “finance” sometimes they get worried. Or their eyes gloss over and they think they can’t possibly have good enough credit, or they won’t understand the process, or it will be more trouble than it’s worth. With One Fat Frog, financing restaurant equipment is quick, easy and painless. With that in mind, here are some Frequently Asked Questions that our finance department hears.

Why should I finance my restaurant equipment?
Opening a restaurant startup is expensive and there are a lot of costs you have to pay up front. If you can afford to pay cash for your equipment at the outset, by all means do so, but for many clients, that up-front cost is too much for them to pay. If you finance your restaurant equipment, you break up the cost into easy to manage monthly payments, making the investment in your equipment more affordable.

What do I need to bring to get financed?
If you walk into a bank and ask for a loan for your restaurant, you’re going to need a lot. You’ll need an in-depth business plan, bank statements, tax records dating back several years, and more. The process is difficult, intimidating, and time consuming. Financing with One Fat Frog is quite the opposite. Our credit application is a single page. If you know your name, address, phone number, social security number, and the name and address of your restaurant, you’re set! We can get you approved within minutes with minimal effort on your part.

My credit score isn’t great. Can I still get my restaurant equipment financed?
Many of One Fat Frog’s clients have little credit or bad credit. If your credit score isn’t good, you may not be able to get financing by yourself, but adding a co-signer could get you the financing you need. We work with clients with a wide range of credit situations and if you need financing, we’ll do what it takes to get you approved.

My credit score is fantastic. Should I get my restaurant equipment financed with you?
First of all, great job with that credit score. We know how hard it is to maintain good credit. To answer your question, yes. The better your credit score, the lower your payments and the more money you can finance. With a top credit score, the sky’s the limit in terms of what you can get for your restaurant.

I am starting a new restaurant. Can a restaurant startup get financing?
Absolutely! A large percentage of our clients are startups and many of those clients finance their equipment. Every business was a new one at some point and we don’t think you should be penalized for that. One Fat Frog is all about helping you realize your dream of restaurant ownership, and our financing is one of the ways in which we do that.

How much can I finance?
The amount of credit we can get you for financing depends on a number of factors, including your credit score and the amount of time you’ve been in business. When you submit a credit application, we will let you know the maximum amount of financing you can get. That way you know how much money you have to work with.

How long does the financing process take?
We can get you an answer on your credit request within minutes. The finance contract will only take a few more minutes of your time – a signature here, an initial there and you’re done! This isn’t a long, drawn-out process. If you come in and ask about financing, we can get your contract that same day.

How long are your finance periods?
Our finance terms are flexile so we work with you to find a term that is the best fit. You can finance over a shorter period of time or a longer one depending on what best fits your needs.

How do I apply for financing?
It’s easy. Download the credit application here and send it to us. You can fax it to us at 407-985-5799, email it to credit@onefatfrog.com or come into our office and bring the application with you. Our office is located at 2416 Sand Lake Road, Orlando, FL 32822.

☛ 2416 Sand Lake Road, Orlando, FL 32809

☏ (407) 480-3409

❂ Mon – Fri: 9AM – 5PM

❂ Sat: 10AM – 3PM