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  1. #11
    Junior Member
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    May 2020
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    4
    I think it is necessary to think about investor help

  2. #12
    Member
    Join Date
    May 2020
    Location
    Sarasota, FL USA
    Posts
    48
    I would say go friends and family route first. In terms of equipment either find it used or lease it. At least for the
    first year or two. It will be hard to get a small business loan with anything less than two years of tax returns, you
    will probably need three. If you go to a hard money lender you will pay interest in the teens.

    **I am not a certified accountant or money manager**

    Also, if you have financial discipline and a good credit maybe open a new credit card with a no interest period.
    For the first couple of years of your business it will be easy to draw credit from your personal finances since
    the business will have no track record.

  3. #13
    Junior Member
    Join Date
    Jun 2020
    Location
    Ho Chi Minh, vietnam
    Posts
    11
    You can spend a little money to run your own business, coffee business does not need to borrow too much

  4. #14
    Junior Member
    Join Date
    Sep 2020
    Posts
    5
    thanks for sharing!

  5. #15
    Junior Member
    Join Date
    Jun 2020
    Posts
    22
    Bank term loans and lines-of-credit are by far the best financing options for new and existing coffee shops. Banks are able to offer financing to coffee shops at such low rates because the traditional lenders are unwilling to take much risk.

  6. #16
    Member
    Join Date
    Apr 2020
    Posts
    27
    Quote Originally Posted by duyngaodu View Post
    You can spend a little money to run your own business, coffee business does not need to borrow too much
    Didn't get you could you please be more exact?

  7. #17
    Junior Member
    Join Date
    Nov 2020
    Posts
    9
    Loan. Get it

  8. #18
    Mou
    Mou is offline
    Junior Member
    Join Date
    Dec 2020
    Posts
    1
    Purchase financing lets newer businesses, such as a coffee shop startup, acquire the materials and equipment needed to open up shop without having to pay for their supplies all at once. You can think of purchase financing s somewhere between a line of credit and a credit card.

  9. #19
    Member
    Join Date
    Nov 2020
    Location
    England London
    Posts
    50
    I'm looking for the same but loans in the UK have dried up lately mate. Let's wait and see I guess! I started 2020 with the best vibe having my gig planned for years, and I was just waiting for the right time to ask the banks that 200k loan and then with the Chinese virus everything went dead. I'm ok living on government funds, but I still want to start my own business and the only good advice I found was from mortgage advisor Leeds as they have everything set up for me and I will hopefully be able to get that damn loan!
    Last edited by Ansand; 01-21-2021 at 06:48 PM.

  10. #20
    Junior Member
    Join Date
    Jan 2021
    Posts
    15
    hello
    how are you))

 

 
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