Lodgehollow Funding Group arranges funding requests for restaurants, cafes and coffee shops in New Bern, NC and Craven County. Restaurants take card payments daily but can face sudden equipment failures, remodels and second-location costs. This page covers kitchen equipment financing, renovation and expansion loans, restaurant loan requirements and County Business Patterns 2023 figures for local restaurants.
| Sit-down restaurants with employees, Craven County, NC | 74 employers (CBP 2023) |
|---|---|
| Limited-service restaurants | 92 employers (CBP 2023) |
| Restaurant employees, county | 3,579 at sit-down and counter-service spots combined |
| Restaurant employers, ZIP 28560 | 49 (ZBP 2023) |
| Food service employers under five people | 19.0% of the food service sector |
A Restaurant's Week in Cash
Many restaurants are paid by card, with batches that settle on the processor's schedule. Costs arrive on their own schedule: food and beverage deliveries, a payroll that may run weekly, rent, and card-processing fees. A single large, unplanned cost, such as a failed compressor on the walk-in, can strain cash more than a slow week.
Restaurant funding needs can be grouped three ways: replacing or adding equipment, remodeling or opening another room, and steadying cash after a hit.
Financing Restaurant Equipment
Ranges, fryers, hoods and fire suppression, walk-ins, ice machines, dish machines and point-of-sale hardware are financed as equipment loans or leases, with the item as collateral. Restaurant equipment loans usually need a quote with model numbers. Used kitchen equipment is financed too, though partners may want a dealer's quote rather than a private sale.
Illustrative example only: a replacement hood and suppression system quoted at $38,000 with $5,000 down leaves $33,000 to finance. Compare the monthly payment with a normal week's card deposits to see how many days of sales each payment uses.
Restaurant Renovation Loans, Patios and Second Rooms
A dining-room refresh, a patio, a bar build-out or a second location are one-time projects with a known cost, which suits a term loan. Partners will want the contractor's bid, the lease for the space and evidence that the current restaurant can carry the payment while the new room ramps up. Confirm the space's zoning and permit path before signing; the restaurant renovation post walks through the order of steps for a New Bern remodel.
Where a Merchant Cash Advance Fits, and Where It Does Not
Because restaurants take so many card payments, they can be offered merchant cash advances. An advance is not a loan; it is a purchase of future card receipts, collected daily until a set total is remitted. It can bridge a short gap, but the total cost can be high. If a working capital loan or a line of credit is available for the same need, compare the totals first.
Restaurant Loan Requirements
How to get a business loan for a restaurant comes down to showing steady sales and a clear use of funds. A partner may review:
- Three to six months of statements from the business account, every page and card-processing statements
- Point-of-sale sales reports by month
- The lease, plus how many years it still runs
- Quotes or bids for equipment and remodels
- Existing loans, leases and advances, including any daily debits
Five Answers to Have Before the First Call
- Is this a one-time cost, such as equipment or a remodel, or a recurring gap in cash?
- Do you have a written quote with model numbers, or a contractor's bid?
- How many months remain on your lease, and does the landlord allow the work?
- Are any merchant cash advances or daily debits running now?
- What do your card deposits look like in a normal week?
Those five answers help show which structure fits before any paperwork changes hands.
Craven County, NC Dining Rooms and Counters in the Census Count
County Business Patterns counted 74 full-service and 92 limited-service restaurant employer establishments in Craven County in 2023. Together they employed 3,579 people: 1,630 at full-service restaurants and 1,949 at limited-service ones. Annual payroll was $36.0 million and $32.3 million respectively (noise-infused figures). Twenty-five full-service and 24 limited-service employers had a ZIP 28560 address (ZIP Code Business Patterns 2023).
Among the county's 226 accommodation and food services employers, only 19.0% had fewer than five employees in 2023, compared with 50.4% across all employers in the county (County Business Patterns). Nonemployer Statistics, a separate program, counted 16 no-payroll full-service and 12 no-payroll limited-service restaurants in 2024.
Coffee Shops and Cafes
A coffee shop business loan can start with the espresso machine, grinders and refrigeration, financed as equipment. A cafe opening a second spot or adding a kitchen is a term request. The short notes on bars, food trucks and cafes on the industries hub cover related food businesses, and the New Bern, NC business data page shows how food service sits within the county's sector mix.
By Lodgehollow Funding Group · Updated