Full-service and counter-service restaurants in Williston, North Dakota can use this page to match kitchen equipment, repairs and expansions to funding types before Willowpeak Capital Group passes a request to funding partners.
At a glance
- Restaurants and other eating places, Williams County, ND
Restaurants and other eating places, Williams County, ND: 76 employer establishments, 1,416 paid employees (CBP 2023)
- Full-service restaurants, Williams County, ND
Full-service restaurants, Williams County, ND: 27 employer establishments, 608 paid employees (CBP 2023)
- Limited-service restaurants, Williams County, ND
Limited-service restaurants, Williams County, ND: 30 employer establishments, 659 paid employees (CBP 2023)
Loans for Restaurants Explained With a Williams County, ND Restaurant Buying Fryers
Fryers are the clearest case for restaurant equipment financing: a dealer price, a make and model, and a working life of several years. A restaurant replacing two fryers and a range can finance them as one package, with the equipment as security.
Illustration only, invented figures: a kitchen package of $46,000 financed over 48 months at an annual rate of 12.5% would cost about $1,223 a month, $58,689 in total payments and $12,689 in interest.
Williams County, ND had 76 restaurants and other eating places with paid employees in 2023: 27 full-service, 30 limited-service and 18 snack and nonalcoholic beverage bars, plus 1 other eating place by our arithmetic (County Business Patterns).
Restaurant Funding for a Williston, ND Restaurant: Dish Machines and a Second Location
A dish machine is equipment. A second location is a business expansion that includes a lease, build-out, equipment, opening stock and pre-opening wages. The dish machine can be financed on its own; the second location is usually a term loan with an equipment piece inside it.
Illustration only, invented figures: a second location budgeted at $120,000 for build-out and opening costs, financed over 72 months at an annual rate of 11%, would cost about $2,284 a month, $164,454 in total payments and $44,454 in interest.
Restaurant Financing Options for a Williston, ND Restaurant: Ice Machines and Hood Repairs
An ice machine is a short, known equipment purchase. A hood repair is a fix to a building system, often urgent, with no asset a partner can take back. For the ice machine, equipment financing; for the hood repair, a credit line, a short working capital loan or, for a restaurant with steady card sales, a merchant cash advance, which is not a loan and should be compared on its total cost.
Restaurant Business Financing When a Williston, ND Restaurant Needs Kitchen Hoods
Replacing a kitchen hood system is a larger job: the hood, the fan, the ductwork and the fire suppression. The equipment portion can be financed; the installation and any building work may need a term loan or a line. Get a written bid that separates the two.
The City of Williston, ND requires a building permit for mechanical work and structural alterations, according to its Building Safety FAQ. The permits guide explains the application.
Financing Restaurant Equipment When a Williston, ND Restaurant Needs Walk-In Coolers
A walk-in cooler is part equipment, part construction. Prefabricated panels and the refrigeration unit have a resale market; the floor, the electrical and the installation do not. A partner may finance the cooler and its compressor as equipment and ask for the install to be covered another way.
Restaurant payroll in Williams County, ND was $38.1 million across 1,416 paid employees in 2023 (County Business Patterns). The article on card-sales advances and the equipment financing page have more examples.
What a Williams County, ND Kitchen Brings to the First Call
Before the first call, a restaurant owner can write down four things: what is being bought or fixed, the quote or bid, how long the restaurant has operated at its address, and its average monthly card sales. Those answers point straight to a funding type.
- Card-processing statements for the last three to six months
- Business bank statements for the same months
- The latest business tax return
- The lease, with its remaining term
- Dealer quotes for equipment, or a contractor bid for building work
A restaurant buying an existing restaurant adds the seller's returns and an equipment list. A restaurant comparing an advance with a loan should have both offers in writing, with the total remitted on one and the total of payments on the other, before deciding.
Kitchen equipment that is bolted down, such as hoods and walk-ins, is harder for a partner to recover than a fryer on casters. That can change the down payment or the term, so ask each partner how it treats installed equipment.
Bars are a separate Census group from restaurants: Williams County, ND had 18 drinking places with paid employees in 2023 (County Business Patterns). A bar with a kitchen can use the same equipment and build-out funding described here, and the same records apply. The City of Williston, ND Finance Department handles alcoholic beverage license applications, which go to the City Commission for approval, so a bar changing hands should ask the city about the license before pricing the purchase.
By Willowpeak Capital Group · Updated
