What is Nory Capital? Secure funding, access flexible repayment plans, and grow your business
Think Nory Tips and Nory Pay, but BIGGER!
Big news from Nory HQ — we’re launching Nory Capital, a secure way to get fast, flexible financing for your restaurant. Get funding approval in 24 hours, access flexible repayment plans, and manage your funding applications from a central location.
Find out more about how it works — and more importantly, how you can use it to grow and develop your business!
The challenges restaurants face with getting capital
Raising money to fund the growth and development of your restaurant isn’t easy. There are a lot of avenues to choose from, and it’s up to you to identify the best option for your business.
So, what are the options?
- Bank loans are probably what most business owners think of first, but they can be particularly hard to get. They have attractive rates for repayment, but securing the loan is a multi-month process — and you still may be rejected at the end of all your hard work.
- Private investors generally offer flexible terms compared to bank loans, but they often have higher interest rates. Why? Because they’re taking on more risk than a bank. They want to protect themselves, which comes at a cost — and you have to cover it.
- Crowdfunding involves pitching your idea to the public and they can financially back it if they support it. But in the current economic climate (with the cost of living crisis, rising interest rates, and high inflation), getting donations is easier said than done. There’s no guarantee you’ll reach your funding goal, despite the time and effort you spend promoting your idea.
- Asking to borrow from friends and family is probably the least time-consuming option when it comes to getting capital, but it can lead to complications down the line. If you can’t repay what you owe in the agreed timeframe, or if things don’t work out as planned, it could damage your relationship. Is the tension at the family dinner table worth it? Probably not.
- Some restaurant owners are fortunate enough to invest capital themselves, which gives them more control over their business. Large groups might take on private equity money, but that’s at a larger scale and is primarily for growing an existing business. This isn’t always applicable for smaller restaurants just starting out or growing on a smaller scale. However, paying from your pocket comes with risks — the biggest being financial loss if things don’t go to plan.
On top of finding the best source of capital, restaurant owners also have to decide how to spend funds for the best results.
New fit-outs, implementing new technology (like iPads), opening news sites — there are a lot of ways to distribute the money. It’s on you to pinpoint the best way to allocate funds to grow the business, which isn’t easy.
How Nory Capital helps restaurants secure funding
The solutions to these problems? Nory Capital! 🚀
Powered by YouLend, Nory Capital is a one-stop shop for managing and securing financing for your restaurant. Secure funding in a matter of clicks, and don’t wait months for approval.
Sounds too good to be true, right? We promise, it’s not.
Take a look at some of the other features to see exactly how Nory Capital can help you secure funding.
- Quick approval times. With Nory Capital you don’t have to wait months for a response from a lender. Our turnaround time is just 24 hours, so you can start making changes as soon as possible.
- High chance of approval. Nory Capital applicants have an 85% acceptance rate, giving you a high chance of securing the funding you want.
- Reasonable interest rates. Secure funding with interest rates as low as 5%, so you can increase profits and invest funds in other areas of your business.
- Access high-value loans. Nory Capital can provide loans of up to £1.3 million (£2 million exposure) to hospitality businesses, giving you the scope to reach your goals and grow your business.
- Improve cash flow management. Get easy access to recurring credit to manage cash flow for short-term expenses, seasonal changes, and most importantly — to take advantage of growth opportunities fast.
- Loans for restaurants of all shapes and sizes. Are you a small-medium sized business (SMB) that’s looking to refit your existing restaurant? Or a mid-market, enterprise business with big plans to franchise? Whatever you need, we’ve got you covered. No matter your size or scope of requirements, you can access funds to empower your business.
- Backed by YouLend. YouLend is an established financing platform that provides businesses across the world with access to fast and flexible funding. They have high standards to provide clear, fair, and transparent funding options for your business. Amazon, Shopify, eBay, and JustEat are just some of the companies that use their services.
- Flexible repayments. Choose to pay a flexible amount each month or a percentage of your daily sales, meaning you only pay back what you can actually afford.
- A holistic approach to funding. Looking for money to invest in areas outside of refits and new sites? You’re in luck! With Nory Capital, you can secure funding beyond the typical capital investments. Get financing for new equipment, handle day-to-day expenses, and more.
Find out how much you could get now!
How does Nory Capital work?
It’s a quick and simple process to apply for funding with Nory Capital:
- Step 1: Submit your application. Complete your online application and answer questions about your business, which typically takes less than 5 minutes to complete.
- Step 2: Review your offer. You’ll receive a notification when an offer comes through. Typically, decisions return within the same day, with some receiving offers instantly.
- Step 3: Accept or reject the offer. If you accept an offer, you’ll receive funds within one to five business days.
All of this can be managed from a self-service portal. You don’t have to rely on anyone else to get your application submitted. 👏
Secure flexible financing for your restaurant with Nory Capital
Nory Capital is revolutionising the way restaurants secure funding. Easily manage and submit applications in a matter of clicks, and wait just 24 hours for a response. It really is as simple as that!
So what are you waiting for? Reach out to the team to get your investments on the go.
FAQs about Nory Capital
How much funding can I get through Nory Capital?
When considering borrowing options for restaurants, we can typically access up to double the applicants card revenue. This encompasses various sources such as in-store card payments, platforms like Just Eat or Deliveroo, and online ordering systems.
For example, if a merchant generates £180,000 in card transactions monthly, the borrowing offer is based on their average monthly card turnover. In this scenario, an average turnover of £180,000 could potentially lead to an offer ranging between £100,000 to £250,000.
How do I get funding for a restaurant with Nory Capital?
There are different avenues you can take to get funding for your restaurant, such as securing venture capital, getting a business loan, or borrowing money from friends or family. With Nory Capital, you simply submit your application on the system, wait for an offer, and accept it when it comes through. You’ll receive funds within five business days.
How long are the payment terms?
That’s up to you. You can decide how long your payment term is and how much you want to pay each month. Repayment is usually taken as a small percentage of your daily card sales, adjusted according to your cash flow without any extra fee or charge. On days without sales, you will not repay anything. However, you can always make a one-off payment, free of charge, if you would like to.
