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Coffee Shops and Bakeries

Types of Business Loans for Coffee Shops & Bakeries Shops

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Canada Small Business Financing Program Loans

The major reason why a medical or dental practice loan is taken out is to open a business. The startup expenses are usually the biggest hurdle for many businesses.

Term Loans

A basic term loan is an ideal way to raise financing for a coffee shop. It is essentially a normal business loan that can finance any expenses related to running a bakery or coffee shop. You can get fast approvals depending on the selected lender.

Revolving Line of Credit

The business line of credit can help bakeries and coffee shops to meet long term repetitive expenses. The revolving line of credit is convenient for coffee shops as it gives access to funds as per their financial needs. The average APR on a revolving line of credit is typically higher but it offers freedom and convenience. With proper use of a line of credit, a business can cover large expenses such as the expansion of the coffee shop.

Equipment Loans

Equipment loans are an ideal way of financing the acquisition of coffee shop or bakery equipment. Equipment loans are specifically aimed at purchasing equipment and these are then used as collateral.