As a restaurateur in a highly competitive market, serving the customer means having enough food throughout the day to be able to accommodate hundreds of orders. With Plastiq, restaurants can use credit cards to pay for goods while maximizing their cash flow. This allows them, to sell food to customers before paying their suppliers for it.
A restauranteur can pay virtually any vendor, regardless of whether or not they accept credit cards (think: foodservice suppliers, facilities management, etc). Plastiq gives you the freedom to pay invoices with your credit cards while your recipient receives your choice of a check, ACH, or wire transfer. This allows you to net up to 60 extra days to pay off your bills.
With Plastiq, you can also pay your commercial rent with a credit card. This payment can be significant and tie up a lot of cash flow. Using Plastiq and paying with your credit card could net you reward points and miles, along with letting you keep your cash-on-hand instead of your landlord’s pocketbook.
Easier Than Line of Credit
A line of credit or loan is also an option when paying expenses, but it can take a while for approval and often comes with high interest rates. Using Plastiq to pay with a credit card is more convenient and less expensive.
The restaurant business often has unpredictable cash cycles, so having extra days of cash float, quickly and affordably, is helpful.
By paying suppliers, commercial rent, franchise fees, and other expenses, you can maintain healthy cash flow by putting these expenses on most credit cards.
Extra days of float means your restaurant has more days to pay back the money spent. In fact, many of our customers enjoy up to 60 days of float.
Join the thousands of restaurant owners who trust Plastiq to expand their business by signing up here.