See if you pre-qualify

Opening a restaurant?

Up to $500,000 To open your restaurant.

  • 100% of submitted files funded
  • $10M+ funded to date
See if you pre-qualifyWhat lenders need
A chef-owner leans on the pass, looking out at her packed dining room on opening night

A new restaurant has no sales history, so the plan does the talking: your concept, your numbers, your build. The loan comes from a bank or credit union, through the government-backed Canada Small Business Financing Program (CSBFP). We don't lend. We build the plan and take it to the right lender. You bring the documents only you can get. We do everything else.

We win when you win.Our shared success compensation is only paid when you're funded.

Where we take your application

  • RBC
  • TD
  • BMO
  • Scotiabank
  • CIBC
  • National Bank of Canada
  • Desjardins
  • Meridian
  • BDC

What a lender needs from a new build

No history yet. The plan carries it.

A lender cannot look at last year's sales, because there are none. Everything rests on the application.

  1. A lease you can still shape

    You are signing a new lease, so the length is still negotiable. The loan is paid off over your lease, so lenders want ten years, or five years with a five-year renewal. Talk to us before you sign and we will tell you what the financing can support.

  2. Real quotes for the big costs

    Construction and kitchen equipment come from real quotes, with the supplier's GST/HST number on each. We never guess at them. If a quote is missing, the budget is not ready, and we will tell you.

  3. Projections that carry the story

    With no sales history, the lender leans on your forecast. We build a three-year model around your site and your costs, with every assumption shown so the lender can check it.

  4. Why you, in this location

    You have no franchise brand behind you, so the plan has to show why you, in this spot, will make it work. If it is your first restaurant, the plan works harder. That is our job.

  5. Your cash, and your net worth

    Lenders usually want 10 to 40% of the project cost in your own cash. Separately, they check your net worth to back your personal guarantee. That can include home equity, not just cash. People mix these up all the time, and it costs them deals.

See if you pre-qualify

Opening a franchise location instead? See franchise financing.

How it works

From first call to funded.

Seven steps. You are only asked for the things only you can provide. Everything else is ours.

Yours
Bank statements, tax returns, the lease, quotes and invoices. The documents only you can get.
Ours
Everything else on this page. The plan, the numbers, the budget, choosing the bank, applying, the back and forth, and getting the money paid out.
A man on a phone call at a café table with a coffee in front of him, black and white
  1. 01

    Check if you qualify and pick the right bank

    First, we find out whether you are a strong candidate and what the best route is. We ask the lenders we know what they are funding right now and look for the best terms for your goals. If we do not see a way forward, we tell you on that first call rather than taking your time.

  2. 02

    We check everything first

    We gather your documents and look for problems before the bank does. Some things are an instant no under this program, and we would rather find them early than in front of a lender.

    • Personal and corporate tax returns
    • Your credit report, and what a lender will read into it
    • Your net worth, and the cash you are putting in
    • Your lease, its length, and any clause that lets the landlord end it early
    • Competitors and comparable restaurants
    • Your restaurant experience and the team around you
  3. 03

    The business plan

    A written plan that tells your story the way a bank reads it, delivered as a designed, password-protected web page the lender can open on their phone. It covers:

    • Executive summary
    • Company overview
    • Management team
    • Products and services
    • Market opportunity
    • Marketing and sales strategy
    • Operations plan
    • Financial projections and debt servicing
    • Use of funds
    • Why this works
    • Appendices
  4. 04

    The financial model

    A three-year forecast in Excel, built the way a restaurant CFO would build it, with every assumption visible so the bank can check it. It covers:

    • Assumptions
    • Revenue build
    • P&L, three-year forecast
    • Break-even analysis
    • Sensitivity analysis
    • Monthly cash flow projections
    • Projected balance sheet
    • Rent schedule
    • Loan amortization schedule
    • Full capex schedule
  5. 05

    Lender match and submission

    We work with your own bank, or match you to the lender that lends to restaurants and fits your profile. Lenders change what they will do all the time, so the match matters as much as the application. Then the whole package goes in at once: plan, forecast, budget, quotes, invoices and every supporting document, in one organized online folder the lender can move through quickly.

  6. 06

    Approved

    Approval is the lender's decision and nobody can promise it. What we control is a complete application in front of the right lender, which is why every one we have submitted so far has been approved and funded.

  7. 07

    Funded, and the money in your account

    Approval is not cash yet. The bank pays the loan out in stages, and each payment needs the right invoices and proof of payment. We manage the payout for you and prepare all of it, so each payment moves quickly.

Brands we've worked with

Funded

Files we took all the way through.

Every application we've submitted has been funded. Over $10 million so far, and about 100 hours saved for each client.

Funded

TorontoTD

Toronto restaurant

A Toronto restaurant, funded with TD. We built the plan, the numbers and every document, and saw it through to funding.

Funded

Burlington, OntarioAsset purchase

Buying an existing restaurant

An asset purchase rather than a build, which means an appraisal, an inherited lease, and two years of the seller's statements and returns. Financed through a credit union.

Funded

OntarioCSBFP

Independent restaurant

Every document, the plan and the forecast, taken to Meridian and through three rounds of questions to approval.

Funded

OntarioCSBFP

Bar build

A ground-up bar, financed on projections rather than history, because there was no trading history for the location to lean on.

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On Instagram

Follow the funding.

@restaurantfinancingcanada

What it costs

What's the investment?

One small investment to start. The rest only when you're funded.

To start, there is a project launch investment. It covers the early work. The amount depends on your project and on how many owners are applying, so we quote it once we've seen your deal.

Once you're approved and funded, there's shared success compensation. It scales with the funding you receive. Both are small next to the loan, and worth it. We walk through all of it before we begin.

The good news: where the lender allows it, both can be included in your loan.

We also help you negotiate the best terms and value with your lender. Think of us as your partner in getting funded, and in getting a better deal.

No surprises. We explain every term before you sign.

See if you pre-qualify

We win when you win.Our shared success compensation is only paid when you're funded.

Two glasses of red wine clinking over a table of shared plates in a restaurant, black and white
Adam Gilbert

Who you deal with

I speak restaurant. I speak bank.

Hi, I'm Adam Gilbert. I've spent my career in the restaurant business, on the finance and marketing side. That includes senior marketing and finance roles at one of Canada's best known restaurant groups, through its sale to the country's largest full-service operator.

I run Sweet Sauce Hospitality Partners, and I am building my own restaurant concepts, so I am not advising from the sidelines. I know what a build really costs, and what the bank will ask before it asks.

A good business plan tells your story, then backs it up with numbers. It has to make the bank believe in your restaurant, and then prove it.

Let's get yours funded.

Questions

New restaurant FAQs.

Straight answers. Including the ones where the honest answer is that it depends on your lender.

See if you pre-qualify
Do you lend the money?

No. The loan comes from a bank or credit union, through the Canada Small Business Financing Program, a Government of Canada program. The government guarantees a large share of the loan for the lender. We are a brokerage: we build the application, take it to the right lender and see it through to funding.

Do I need restaurant experience to get a new restaurant funded?

It helps, and it is not an absolute rule. A first-time independent operator is a harder file, so the plan has to work harder: the team around you, the concept, the location and the numbers. Plenty of first-time operators get funded. The plan just has to show why, and that is our job.

What goes into the project budget?

The whole project, not only the build. Construction and kitchen equipment have to come from real quotes, and we do not estimate them: if one is missing, the budget is not ready yet and we will say so. Around those sit the costs that are easy to leave out, and a lender would rather see them planned than discover them later.

  • Design, drawings, permits and professional fees
  • Signage, point of sale and technology
  • Opening inventory and pre-opening payroll
  • Deposits, rent while you build if you do not get free rent, and insurance
  • Grand opening marketing and an operating cash reserve
How much funding can I get?

Most restaurant owners we work with qualify for between $200,000 and $500,000. $500,000 is the program limit for the build, the equipment and costs like franchise fees, and up to $150,000 of that can be working capital. Buying the building too? The limit is higher, so tell us early and we will quote the right number.

What is the Canada Small Business Financing Program?

The Canada Small Business Financing Program (CSBFP) is a federal program that helps small businesses borrow through banks and credit unions. The government guarantees a large share of the loan for the lender. That guarantee is what makes restaurant lending workable for a bank. To qualify you must be a for-profit Canadian business with under $10 million in annual revenue.

  • The build, such as your kitchen or dining room
  • Equipment, from ovens and fryers to point of sale
  • Furniture and fixtures
  • Franchise fees and working capital

The Government of Canada program page

My cash versus my net worth. What is the difference?

Lenders check two separate things, and people mix them up all the time. First, the cash you put into the project, usually 10 to 40% of the cost. Second, your net worth, which backs your personal guarantee. That does not have to be cash: home equity, a car and investments all count. Lenders usually want it to equal about 25% of the loan, not of the whole project. If you have been told you do not have enough cash, it is worth a second look.

How long does it take?

It depends on two things: how fast we get your documents, and how long the lender takes to decide. We can speed up the first. Once we see your project, we will give you an honest timeline for both.

Do I qualify?

You are likely a fit if your business is Canadian, for profit, and under $10 million in yearly sales, or not open yet. Lenders then look at your credit, the cash you are putting in, and your lease. Our check takes about two minutes and will tell you where you stand.

Can you guarantee I will be approved?

No, and be careful of anyone who says otherwise. The decision belongs to the lender. What we control is how complete your application is, and which lender sees it. That is where we focus, and it is why every application we have submitted so far has been funded.

What can the loan be used for?

Most of what it takes to open: the build, kitchen and bar equipment, point of sale, franchise fees, opening inventory and some working capital. If you are buying the building, that too.

  • Building out a dining room, bar or prep kitchen
  • Kitchen equipment, bar fridges, ovens, point of sale
  • Renovations to a leased space
  • Franchise fees and opening inventory
  • Commercial kitchen or delivery vehicles
Do I need a signed lease already?

Not to start, but you will need one before funding. Lease length matters more than most people expect, because the loan is paid back over the lease. Aim for ten years, or five years with an option to renew for five more. Talk to us before you sign and we will tell you what the financing will support. If you are still searching, we work with restaurant real estate agents and can make an introduction.

Where do you work?

Across Canada. The CSBFP is a federal program and we work remotely, so where you are does not matter. We are based in Toronto and work with owners in the Greater Toronto Area, Vancouver, Calgary, Edmonton, Winnipeg, Halifax, Montreal, Ottawa and Quebec City. Montreal, Ottawa and Quebec City are handled in French or English.