Coffee Shop Business LIne of Credit
Overview of a Coffee Shop Business Line of Credit Loan
The advantages to having a credit line for your coffee shop are:
1. not having to pay for the credit that you have tapped into yet
2. have available cash when you need it
3. easy qualifying
Keep in mind that a credit line can be higher interest rate than a conventional loan and you may need to update your documentation if you don’t use your credit very often.
This is a great loan to have set up ahead of time if you know you will need the funds in the future. If your coffee shop also does catering or has seasonal business flucuations, a credit line can help with added payroll expense or to get through a slow period.
10k to 1 Million
6 Months to 5 years
6.5% to 25%
As Fast As1 day
What is a Coffee Shop
Business Line of Credit
A coffee shop business line of credit is a loan is an available line of credit extended to a coffee shop for expenses and other working capital needs.
The coffee shop will only pay for capital that it uses.
Who Qualifies for a coffee shop business line of credit?
More established coffee shops will have longer terms and lower interest rates.
620 and in some cases lower
6 months to 1 Years
With a business line of credit you will need to have the following documentation and you may need to update the documents when you make a withdraw from the credit line.
- Driver’s License of the owners of the coffee shop
- Business Plan
- The Business Debt Schedule
- Personal Tax Returns
- Coffe Shop Business Bank Statements
- Balance Sheet for all coffee shops that you want financing for combined
- Profit & Loss Statements for all coffee shops combined
- Personal Credit Score
- Business Tax Returns
Don't Be Shy Let's Talk
If we didn’t answer all of your questions, feel free to drop us a line anytime. You never know I may just come up with something brilliant!