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Coffee is one of the most widely consumed beverages worldwide and within the United States. Many people need a steaming “cup of joe” to start their day, making a small café or coffee shop a lucrative business. It takes a lot more than brewing to keep a coffee shop afloat in this current market. Traditional lenders tend to view businesses within the food industry as risky investments, thus making acquiring funds a tedious process.
Café & coffee shop business loans are industry-specific loans offered by traditional and non-traditional lenders to support a range of business needs. Many café and shop owners are familiar with the hardships within the foodservice industry such as broken equipment, employee turnover, and customer gripes. The best solution for small and growing businesses is to acquire working capital to enhance their business endeavors.
First Union is here to help! There are a variety of loan options that can help your café or coffee shop business thrive.
Once you've confirmed the need for funds provided by a lender, consider the factors that are most important to you. Business owners should look for loans that offer great interest rates, down payments, and collateral requirements. Here are the more widely used loans to help fund cafés and coffee shops.
Other SBA options
Equipment can include such items as brewing and cooking appliances, phone systems, computer monitors, furniture, tools, vehicles (for commercial use), specialized equipment, and more.
If your business has come to the point where funds are needed to generate a greater return of profit, acquiring a small business loan may be the best option.
First Union is here to help.
Submit your business information below to determine if you qualify for any available small business loans. Our Funding Specialists will analyze your qualifications and will reach out to walk you through the next steps.
While each of the available loans have varying qualifications, lenders will typically ask for the following general information:
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In the past, loans for businesses within the food services industry were harder to acquire because the industry is viewed as risky. Traditional lenders and banks often involve collaterals and place a strict repayment schedule - stressing out borrowers in need of capital to grow. Online lenders like First Union are providing restaurants with the funds needed to grow and become successful.
If you have questions in regards to any café-related business loans, feel free to give us a call: 863-825-5626
Depending on the loan you qualify for, there are many benefits in partnering with a non-traditional lender to gain funds for your business initiatives. The funds from these financing options can be used to solve a variety of issues that can arise within the foodservice industry.
It provides the working capital to allow borrowers to expand their facility or fully renovate it if needed. As time goes on, many cafés or coffee shops will need upgrades, repairs, new interior decor, or exterior remodeling to maintain or attract customers.
These funds are not limited to just renovations, it can be used to enhance your business advertising and equipment if needed. In today's world, internet marketing is a must to create a name for your business. Having a presence on the internet will help keep your small business populating on Google Search results, thus bringing in more customers.
Keeping up with adapting technological equipment is also a must. Point of Sale (POS) systems are continuously enhanced to better streamline your business. Stay on top of the latest upgrades to the system by utilizing the necessary funds when needed. Easier processing and easy-to-use systems will leave a positive impact on your customer and staff experiences.
These loans can also be used to help keep your kitchen running smoothly. Use the funds to repair or replace essential equipment when needed. Utilizing out-of-pocket funds can be expensive, look to a lender to finance your initiatives and keep your business running.
At First Union Lending, we have an unwavering belief that small and medium-sized businesses deserve the right to access the capital they need to succeed.
Our goal is to build long-term, lasting relationships by providing business owners with what they need when they need it. We pride ourselves on being educated, knowledgeable, and caring when it comes to how we conduct business. We have voluntarily acquired much of the same licensing required by traditional banks to cement our fiduciary responsibility to our clients and our work culture.
We are here to consult, help you save, and guide you and your business to success.