Deerbank Capital Group, a small-business funding service in Conway, South Carolina, explains how Horry County restaurant owners finance a renovation: a term loan for construction, equipment financing for the kitchen and working capital for the closed weeks, with county restaurant counts and a worked example. Partners review each request and decide.
How to Finance a Restaurant Renovation? What Partners Look At in Conway, SC
To finance a restaurant renovation in Conway, SC, split the project: a term loan for the construction, equipment financing for the kitchen, and working capital for payroll and rent while the dining room is closed. Partners read the contractor's bid, the equipment quotes, the lease and the restaurant's sales. Deerbank Capital Group matches your request with funding partners, who review it and make their own decision.
Horry County had 588 full-service and 389 limited-service restaurant employers in 2023, 977 in all (our sum), with 20,925 paid employees between them (our sum, County Business Patterns). The restaurant loans page has the full county picture.
How to Buy a Restaurant? Steps for Conway, SC Owners
- Get the seller's tax returns, card statements and hospitality tax returns.
- Get the lease and the landlord's answer on assignment.
- List the equipment with ages and an inspection.
- Price any renovation the buyer plans.
- Send the request for the purchase and the renovation together, so a partner sees the whole plan.
How to Get Restaurant Funding? Steps for Conway, SC Owners
Restaurant funding starts with the bill. Equipment quotes go to equipment lenders; a remodel bid goes to a term loan; a payroll gap goes to working capital or a credit line. Cash advances are offered against card sales, but they are not loans, so total their cost before choosing.
How to Fund a Restaurant? A Checklist for Horry County, SC Owners
- A written scope with a contractor's bid.
- Equipment quotes with installation listed.
- The lease with its remaining term and the landlord's consent to the work.
- Permits for the work.
- Twelve months of bank and card statements.
- A plan for the weeks the restaurant is closed or partly closed.
How Do Restaurants Get Funding? The Conway, SC Version
Restaurants get funding from banks, credit unions, equipment companies, online lenders and cash advance funders, each reading different records. A merchant cash advance is a purchase of future card receipts, not a loan; it costs a fixed amount set by the factor rate.
How to Buy a Restaurant With Its Equipment? A Checklist for Horry County, SC Owners
Buying a restaurant with its equipment means valuing the equipment separately from the business: age, condition and what replacing it would cost. A partner lends less against old equipment, and a buyer planning a renovation should count the equipment that will be replaced as having little value.
A Dining-Room and Kitchen Renovation: Worked Example
Illustration only, invented figures: a Conway, SC restaurant plans $62,000 of construction and $34,000 of kitchen equipment, and expects to close for two weeks with $17,500 of payroll and rent due. In this invented example the construction is a term loan at 10% over 84 months, about $1,029 a month; the equipment is financed at 9.5% over 60 months, about $714 a month (our arithmetic).
In this invented example the two payments total about $1,743 a month (our arithmetic), and the $17,500 for the closed weeks is a separate working capital request. The owner checks that sales after reopening can carry the combined payment.
Permits and the Landlord Before the Contractor Starts
A renovation needs the landlord's written consent and, for structural, electrical or plumbing work, a permit. A partner may release construction money in stages tied to inspections. The Conway, SC page links the county's license and permit guides.
Hospitality Tax Returns and Card Statements Side by Side
A partner reading a renovation request compares the restaurant's card deposits with the sales reported on its hospitality tax returns. Gaps from tips, gift cards or catering deposits are normal but should be explained in a short note. The hospitality tax records guide shows a month reconciled line by line.
Phasing the Work to Keep the Dining Room Open
Some renovations can be done in phases: the kitchen during closed days, the dining room a section at a time, the bar last. Phasing lowers the payroll gap but stretches the schedule and the contractor's bill. Price both ways and ask the contractor which phases need the restaurant fully closed. A partner reading the request wants the schedule as well as the cost.
Reading Your Own Sales Before Asking
Pull twelve months of card statements and bank deposits and mark the weakest months. A renovation payment has to be met in those months, not only in the strong ones. If the payment fits only the strong months, split the project or stretch the term, and compare the total cost. When ready, use the request form.
By Deerbank Capital Group · Updated
