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  1. #1
    Junior Member
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    Dec 2019
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    Denver
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    Coffee shop financing?

    Hi everyone,

    I was curious how common financing was for coffee shops. I know that some many take out small business loans to get things up and running, but is it common to take out micro-loans for getting access to supplies and equipment when operating or growing the business?

  2. #2
    Senior Member
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    May 2014
    Location
    Kansas City
    Posts
    1,391
    Well - financing of some type always happens. SBA/Bank loans are hard and harder to get after the mid 2000's recession. Most use credit card or short term lines of credit for fluctuations in business when you need more capital for inventory, etc.

  3. #3
    Junior Member
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    Dec 2019
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    Denver
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    Great insight. Would you happen to know how often people use short term lines of credit or credit cards? I know it may vary greatly.

  4. #4
    Senior Member
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    May 2014
    Location
    Kansas City
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    1,391
    No idea...

  5. #5
    Senior Member
    Join Date
    Nov 2019
    Location
    New Jersey
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    350
    Quote Originally Posted by cwest View Post
    Great insight. Would you happen to know how often people use short term lines of credit or credit cards? I know it may vary greatly.
    Short term lines of credit may have a reasonable interest rate depending upon what the collateral is. If it an unsecured line of credit then it will have a high interest rate. If it's a lien against your house, the rate will be substantially lower. Credit cards will carry the highest interest rate. Well, actually that's not entirely true. Vinnie Bag of Donuts will have the highest interest rate. I don't recommend that lender.
    Absurdity is the only reality - FZ

  6. #6
    Junior Member
    Join Date
    Dec 2019
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    Denver
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    Thank you!

  7. #7
    Junior Member
    Join Date
    Jan 2020
    Location
    USA
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    12
    I don't know

  8. #8
    Junior Member
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    Mar 2020
    Location
    North Sumter
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    5
    I would take a loan last

  9. #9
    Junior Member
    Join Date
    Feb 2020
    Posts
    5
    Yeah, you need to take a loan. But please be careful because there are too many dangerous sources nowadays and they can steal your money or do something else. Just visit the resource on https://cashcat.ph/blog/online-loans...for-everybody/ and believe me, it will help you much more

  10. #10
    Junior Member
    Join Date
    Apr 2020
    Posts
    5
    I'm not too sure, I have never looked into it because I am able to apply for special grants and contributions as well as interest free loans through a specific organization due to my cultural status.. Sorry I don't have much for ya!

 

 
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