Welcome to South Florida Funding Group – Your Business Funding Source
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Business Loan for Coffee Shop

It’s fair to say that many Americans have a dream of owning and running either a restaurant, store or coffee shop. Unfortunately, there are a number of stumbling blocks that can prevent the dream from becoming a reality. While some can’t find the motivation, others worry about the financial side of things. Fortunately, there are more options available than ever before - regardless of whether you’re launching a new shop or need help with an existing brand.

When first planning a coffee shop, people often panic that they need to prove profitability and all sorts of other things. Instead, lenders will actually look at your credit history and score. How good are you with money? Do you pay off debts and loans? Let’s not forget, lenders aren’t there to make judgments about you - they simply need to ensure that they’ll get their money back.

Of course, we appreciate that not everybody has a strong credit score or history. In this case, you’ll need to look elsewhere for financing…and we have some ideas.

Types of Finance for Coffee Shops

Business Loan

If you have the option, we highly recommend going for a business loan before anything else. With a traditional bank lender, you should get respectable rates, low fees, and even extended terms. With good credit, the bank knows you aren’t much of a risk and they can offer favorable rates.

SBA Loan

As we said, not everybody will qualify for a business loan, so we’re going to explore some other options. Similar to a business loan, an SBA loan comes from a lender. However, the Small Business Association guarantees up to 85% of the loan. By doing this, you get the loan and the lender gets the security they need just in case you default.

Why choose an SBA loan? For one thing, they normally come with good terms. For a coffee shop, you should get the amount you need, and sometimes it’s possible to spread the loan over 25 years. With the SBA microloan, you can borrow up to $50,000, and it can get granted to businesses that give back to the community. Otherwise, we recommend a standard SBA loan. READ MORE

Merchant Cash Advance

Sometimes shortened MCA, a merchant cash advance allows businesses to get the working capital they need while also protecting the business from the risks that come with traditional sources of finance. For those with a poor credit score, or who need access to cash quickly, this is a strong option.

For some coffee shops, they run into some short-term trouble and are frustrated because they know everything will be fine eventually. If you can identify with this, a merchant cash advance is ideal. In return for the short-term financing, you will give a percentage of sales. If you know you’re about to have a strong month, you’ll be able to pay the amount back in no time, but you get the cash you need in the meantime. READ MORE

Equipment Financing

As a coffee shop, new or old, you’ll know that equipment underpins everything. Customers come to you (or will come to you) for a product and service they can’t get from home. In order to do this, you need good machinery and equipment. Rather than a lender giving a loan to the business itself (and for the business to use this however they wish), equipment financing is where a lender gives money for specific purchases.

Let’s say you want to buy a fancy new cappuccino machine; get a quote from a supplier and take this to the lender. From here, the lender will provide the capital after approval. For lenders, this is a lower risk because they know exactly where the money is going. With other types of loans, the extra caution comes because the business may spend it poorly.

Generally speaking, these equipment financing loans work quickly. If your coffee machine breaks and you desperately need a new one, this could be a good way to go. READ MORE

Unsecured and Secured Business Loans

At South Florida Funding Group, another area in which we can help is with unsecured and secured business loans. If you choose an unsecured business loan, this will be based on the business owner’s credit history and score. Therefore, you’ll need to have good personal credit (you don’t have to risk a personal home or any other assets).

On the other hand, a secured business loan is secured against an asset. While some loans will be secured against the property being purchased, others are secured against another owned asset. There are pros and cons to both loan types, and the one you choose will depend on the amount you need, your assets, your credit history, and various other factors. READ MORE

Choose South Florida Funding Group

If a traditional business loan isn’t an option in your coffee shop venture, allow us to help. South Florida Funding Group is a reliable source of alternative funding - we’ve helped many in your position, and we plan to continue helping small businesses for many years to come. Depending on your goals and needs, we can help with:

  • Unsecured and secured business loan
  • Merchant cash advance
  • Equipment financing
  • SBA loan

In fact, we’ve even helped some with commercial and investment real estate loans as well as residential investment business loans. We’re an expansive service, but still have the personal touch you need to be comfortable and confident.

We know how stressful it is to launch a business or to keep one going, and this is why we’ve made everything as simple as possible. You have flexible options, the application process is easy, we process applications quickly, and you get a personal service. Even if you have bad credit, feel free to get in touch today. There’s no charge to apply, and we’ll help as best we can.

At South Florida Funding Group, we would love to see you succeed. With our assistance, you get the funding you need to grow and reach your potential whether our support is for payroll, new equipment, or something else entirely! QUALIFY NOW

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The business funding you need when others say No!.

2569 Bay Pointe Dr.
Weston FL 33327

Email:
drew@southfloridafundinggroup.com 

786-544-2700

DISCLAIMER

 The operator of this website is NOT a lender, does not make offers for loans, and does not broker online loans to lenders or lender partners. Customers who arrive at www.SouthFloridaFundingGroup.com are matched with a lender or a lender partner, who offer business loan products or credit repair services.