Restaurant management platform Toast announced the launch of Toast Capital, a subsidiary that gives restaurants access to capital for expansion.
The new line of business from the Boston unicorn has been in the works since the last fall. Through the new subsidiary, Toast offers capital loans to restaurants of all sizes across the country. The company has already disbursed over $20 million since the launch.
“Toast Capital is a restaurant-first funding partner committed to the success of the Restaurant Community,” said chief business officer Tim Barash in a statement. “We understand the unique challenges restaurant owners face when it comes to running a business and securing a loan. That’s why a Toast Capital Loan provides access to transparent financing with one flat fee, empowering restaurant owners to do what they love and thrive.”
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