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I want to open my own cafe but would need to borrow the money for the fit out. Is it possible?
Responses
That is exciting news.
Yes, of course you can borrow money for a shop fit-out. There are many ways this can be done but it does depend on multiple variables unique to you.
If you have ever gone through the process of getting a typical home loan then it will be similar but it can be more tricky.
Are you using your home or other residential property as security? Have you got a business plan? How much are you needing for the fit-out?
Do make sure you speak to a qualified broker to guide you.
Yes, there are specialist hospitality funding companies that do that. Most commercial finance brokers know them. Alternatively most equipment dealers have options.
Hi Alan, yes in thoery. Like any loan you need security, if you have a property and prior experience in hospitality I can potentially arrange up to 100% of your property value plus addition funds held against the start up business through commercial lending, I suggest we have a chat as this is something I could assist with.
You would need a business a business plan.
Regards Ariel