Almost 40% of SilverChef’s customers don’t qualify for loans from traditional lenders.
That’s way too many businesses that can’t get their dream off the ground.
Fortunately, SilverChef offers a range of finance options to support customers through every stage of their hospitality journey.
While many lenders require a minimum trading history of 12 months, SilverChef proudly supports start-up businesses, offering a variety of flexible finance options that help our customers focus on making their dream a reality.
Unsurprisingly, business growth often increases the need for new equipment, inventory and staff. This can put unsustainable pressure on cash flow. By financing your equipment with SilverChef, you can free up important cash flow to invest in other parts of your expanding business.
So, regardless of whether you’re just starting out, or you’re getting ready to grow, our simple application process takes less than five minutes to complete, with potential initial funding of up to $50,000, and easy access to further funding when the time comes.
- Ease cash flow pressures and help your business grow
- Get started with up to $50,000 in less than five minutes
- No minimum trading history required
I’m starting out and need to set up my business with the right equipment. Where do I begin?
We know hospitality. Our team is here to help you explore the financing options available to you through SilverChef and connect you with hundreds of equipment dealers nationwide to help you find the equipment you need.
How quickly can I get funding for my business?
Our application process is quick, easy, and can be done online. How easy? Get approved for up to $50,000 of funding in less than five minutes. Learn more here.
I’m starting a new business and not sure how well it will do over the next 12 months. Is there an option for me?
Rent–Try–Buy is a 12-month agreement with flexible options. This lets you avoid the uncertainty of a multi-year finance contract for equipment you may eventually not want or need.
I don’t own any assets or have collateral. Can I still apply?
While many lenders require a minimum trading history of 12 months, SilverChef offers support to hospitality veterans and newcomers alike. Our approval rate is over 96%, and for funding up to $50,000, simply provide relevant personal and business details, including the intended business and equipment location.
I need new equipment but have a lot of running expenses and am not sure if I can afford it.
When you’re on a budget, SilverChef's manageable, weekly rental payments are the way to go. You can then free up important cashflow to invest in other parts of your growing business.
My business is growing and I need to expand.
By financing your equipment with SilverChef, you’ll have easy, ongoing access to funding, freeing up the cash you need to invest in other parts of your growing business.
How could Rent-Try-Buy affect my borrowing capacity?
Equipment rental payments are ‘off balance sheet’. This means Rent–Try–Buy contracts do not need to be recorded on your balance sheet as they are treated as an expense on your profit and loss statement.
This information is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek independent professional advice from a financial and legal adviser.
Why would I finance when I can use my cash or credit card?
Paying for equipment outright upfront results in cash that is no longer available for use elsewhere in your business.
SilverChef’s finance solutions get you the equipment you want while still allowing you to have cash on hand for other expenses, like wages, inventory, rent and other operating costs.
|What’s the benefit of doing weekly payments when I have the cash to pay for it now?|
Low upfront costs and manageable weekly payments put you in control of your cash flow, making your outgoings easier to manage.
No more $10k, $20k or $30k upfront purchases and confusing long term plans – just manageable, regular repayments that allow you to easily calculate what you’ll need to sell each week to cover the equipment rental cost.
|What’s the benefit of doing weekly payments when I have the cash to pay for it now?||Not only does our industry leading Rent–Try–Buy option have a short 12-month finance term, you can also purchase your rental equipment at any time, or return it at the end of the term if it doesn’t suit your current business needs.|
|What happens if I decide to buy my equipment after 12 months?||If you are happy with the rental equipment, you can make us an offer to purchase it at any time and receive a generous rebate on the rent you’ve already paid. In the first 12 months, 60% of your first year’s net rental payments go towards reducing the equipment’s purchase price.|
Note: The information contained in this guide is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek independent professional advice from a financial and legal adviser.