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  1. #11
    Senior Member
    Join Date
    Dec 2011
    Thomaston, CT
    Agree with John P. If you have enough equity or own your home outright, you will not beat the interest rate to get that home equity loan.
    I would get a fixed rate though, they seem to promote the variable rate.

  2. #12
    JCF is offline
    Join Date
    Nov 2014
    Different kinds of Loan offer Advantages vs. Disadvantages. Shop around. Today many of the Larger banks are starting to consider and process Personal Loans. If the amount you need is not more than 50.000 you may want to consider them. You can look for them online. Just Goggle the specific Bank under Personal Loans. The Interest Rates are higher than the Home Equity but your house is not on the line. Additionally, you must remember that if you get a Home Equity you will have to keep your House Insured during the time of loan. Thus, they all have considerations that must be evaluated. GOOD LUCK.
    Last edited by JCF; 11-15-2014 at 03:29 PM.

  3. #13
    Join Date
    Jul 2014
    East Greenbush, NY
    Quote Originally Posted by slurp View Post
    If you like to be in business for long DO NOT GET A LOAN!!! The used equipment dealers are loaded up from auctions and repos.

    Save your money and buy your equipment outright. restaurant loans have very high interest rate due to the likely hood they will fail.

    I am not saying to not buy a roaster just saying save your money and buy it out right.

    Most banks do not write loans for less than $75k as they do not see any profit in the loan.

    If you can not afford a roaster that size find a local roaster and rent time from them. Maybe they will teach you how to roast before you drop $7k ish

    Keep in mind you need more than just a roaster, do not forget about green bean, bags, sealer, grinders and so on.

    Just my $0.02
    Agreed. This is the path I have taken. I paid cash for my roaster and other equipment. If don't sell a lot in the beginning isn't going to bankrupt me. Growth has been slow but its only been a couple months.
    Last edited by empeg9000; 11-17-2014 at 07:22 AM.

  4. #14
    Junior Member
    Join Date
    Oct 2018
    Scottsdale, AZ
    Quote Originally Posted by Musicphan View Post
    Talk to your local banker... they should be able to provide you a commercial loan on a piece of capital equipment like the roaster. I have also seen a leasing company advertise in Roast magazine that specializes in roaster leasing.
    I know this is an older thread, but I just joined the forum and felt the need to make my first post. We are the company you are referencing from Roast Magazine. Specialty Coffee Finance (specialtycoffeefinance dot com) We provide both roaster financing and roaster leasing options.

  5. #15
    Join Date
    Oct 2018
    Hey there, if you are looking to finance a 5 kilo gas roaster, check out Besca USA. Besca offers top quality roasters, and we have financing options available through Pinnacle Finance, who are really great to work with. Since you are in the midwest, I would love to have you come visit our showroom. We have a Semi-Auto 2 Kilo Besca profile roaster that we let clients play with. Shoot me a PM, or check us out for more details. We always love to roast with new people

  6. #16
    Junior Member
    Join Date
    Nov 2020
    A bit late to the party but, how was your experience with BDC? I am in BC and close to applying for a loan through them. However, when I saw their interest rates combined with the fact that there are penalties for early loan payback I was quite shocked. To me it seemed they are no different than a regular bank with the exception that for the first year you only pay the interest.



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