Best Fast And Easy Business Loan For A Coffee Shop
Although the smell of running a coffee shop can be amazing, when an unexpected expense comes up, it can be stressful, and a fast and easy business loan for your coffee shop may be necessary.
Traditional financing, especially for newer Coffee Shops or Business Owners that have bad credit, can often be difficult to get approved for. Not only is the underwriting criteria more stringent, it can takes weeks or even months, to get a decision.
Luckily there are Lenders that specialize in offering the best fast and easy business loan for a Coffee Shop. Even for those Business Owners that have bad or challenged credit.
What Kind Of Business Loans Are Available?
Working Capital
A Business Working Capital Loan is a short-term, revenue based loan that is a great option for Business Owners that have bad or challenged credit.
Term Loans
A Business Term Loan typically has a fixed funding amount, with fixed terms, and can be used for any number of business expenses.
Line of Credit
A Business Line of Credit, is a revolving credit line for your business. Like a typical line of credit, you can pull from the credit line as-needed.
Most of these Lenders offer multiple fast and easy business loans for a Coffee Shop. So you can compare the different loan options, and decide what works best for your situation.
Compare Loan Options
What Can I Use The Money For?
You can use the money however you see best fit to help your Coffee Shop. Whether it’s to help cover an unexpected expense, or take advantage of a new opportunity, it is up to you.
Some common uses include:
- Purchasing New Equipment
- Upgrade and Renovate Shop
- Cover Payroll
- Increase Marketing Budget
- Purchase Inventory
- Business Expansion
How To Get Approved For A Fast And Easy Business Loan For A Coffee Shop
These business funding programs are designed to help all types of Coffee Shops. As long as you meet the following criteria, you are eligible to apply:
- 3 Months Time In Business
- Minimum Of $10k In Monthly Revenue
Unlike traditional financing, there is minimal documentation needed to get approved. You just need to complete an easy online application, and provide recent bank statements to verify the revenue.
Once approved, choose the program and terms that work best for your business, and get funded today.
