It’s Saturday night. You’re out partying with your friends at the hottest local bar in town. And it strikes you suddenly: you should start your own bar with the right bar equipment financing.
You can be your own boss and serve good times and great drinks to your customers.
While the idea is a success, cash can be a huge obstacle. If you’ve not done business before, you might not know how to get financing for all the bar equipment.
Read on to find out what you need.
The Costs Involved
You need to consider bar startup costs. If you want to start a small neighborhood bar, it can cost around $20,000. However, if you plan on opening a restaurant and bar together, you might look at seven-figure costs.
Even if you think about buying an existing bar, there are many costs involved. If you have the funding to buy, you’ll still need to get restaurant equipment loans and a line of credit for your purchases. Well, securing the financing for your bar equipment is easier than finding a cool bartender with First Capital Business Finance!
Think Beyond Bank Loans
If you’re looking for bar equipment financing, you should know that a bank loan isn’t your only option. Alternative lenders can give you a more convenient option to get capital for your bar.
A lot of these lenders operate online and offer loans to dreamers who might not qualify for a traditional loan. Plus, if you’ve got your eye on some bar equipment and need to close the deal faster, online lenders can give it to you within a few business days. Compared to banks that might take weeks to process, this helps you start your bar faster and sooner.
Bar Equipment Financing Is for Everyone
Whether you want to upgrade your existing bar, remodel it, or buy a new bar and need bar equipment loans, everyone can opt for alternative financing. It can save you a lot of time and money, as you don’t need to run behind a bank for the capital.
Sometimes, your bar equipment might fail and you may need an emergency replacement. In such cases, getting bar equipment loans becomes a priority. Plus, you can expand your business or buy the right equipment that will boost sales at your bar with enough capital.
A lot of online lenders have exclusive funding programs for all credit scores. So, in case your credit score is not up to the mark, you don’t need to worry. Even if you have faced a bankruptcy or have any credit issues, you can find funding for your equipment.
Benefits of Bar Equipment Loans
When you work with a trusted lender, you can enjoy many financing benefits. Some of these include:
- Same-Day Approvals – A lot of lenders offer fast credit decisions, helping you secure your restaurant equipment loans in no time.
- Minimal Up-Front Costs – You don’t need to invest a lot of money to get your funding.
- Equipment Today, Payment Over Time – With the right financing, you can start using your bar equipment right away and pay for it over a period of few years.
- Affordable Loans – You can opt for a lower interest rate and affordable monthly payments to help you sustain your bar and keep some of its profits
- Replace Obsolete Technology – In an age where technology is rapidly changing, bar owners need to replace their old technology and opt for new equipment to keep up with the customer demands.
- Choose Your Equipment – When you have the funding ready, you have a choice between new and used equipment for your bar.
Sounds like you can finally buy your bar equipment, right? Now all you need to do is find the right lender – and First Capital is an excellent choice.
Get Bar Equipment Financing Solutions That You Fit Your Needs Today!
With First Capital, you have an opportunity to buy your desired equipment at the earliest date. Contact us for bar equipment financing and our experts will guide you through the entire process. Get pre-qualified within minutes over the phone! All you need to do is fill out your requirements and we will handle the rest. Call us at 888-825-1669 or contact us online to get your dream bar equipment!
How to Get Financing for Bar Equipment | First Capital Business Finance