Coffee Roaster Financing Options

[tfehst]

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.

Cheers

 

[vomaxa]

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, but you could consider checking with Manasquan Bank customer service to see if they have specific options for smaller financing needs that might suit your situation. They may offer programs or guidance that could help you secure the funds you need for your coffee roaster.

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

Financing a coffee roaster can be approached in several ways. You might consider applying for a small business loan through a bank, as many banks offer specific loans for start-ups. Private loans or crowdfunding platforms can also be viable options. Additionally, some roasting companies provide financing options when purchasing their equipment, which could ease the initial cost. Networking with other coffee business owners for insights and advice could also help you find the best financing solution. Good luck with your venture!