Other than at popular streets like Haji Lane and Tanjong Pagar, one can see numerous bakeries and cafés growing all around in Singapore. Pancake cafés, coffee cafés, cake cafés, ice cream cafés, bakery bistros, the variety is huge. With foodies and bloggers promoting cafés, more profits are expected to be made in this industry.
However, starting and running a business requires a huge amount of funds. At SBL Singapore, we understand the costs needed to run a business in Singapore and to remain competitive in the F&B industry. One must be quick to catch onto new trends and provide food of the best quality. Hence, this is why we are here to offer you all the financial help you might need.
Some time back, SBL Singapore helped Mr Jeremy Koh and his good friend Mr Lee Ying Zhen with their business. The two of them were friends since secondary school and even took similar courses in Ngee Ann Polytechnic. With a passion for food and desserts, the two friends set up a dessert café shop in Tanjong Pagar.
Business started out well and the café slowly gained a steady flow of regular customers. Jeremy and his good buddy Ying Zhen always made it a point to introduce new desserts every month to satisfy the taste buds of their customers. Over time, they realised that the shop size was too small. Customers had to queue and wait outside the shop, especially on weekends.
Realising the need to expand their shop area and bring in more equipment, the two friends approached SBL Singapore for a Café/ Bakery business loan. With our help, Jeremy and Ying Zhen managed to buy over the store beside and expanded their café.
Today, their café is able to house more than 90 customers and share delicious cakes and dessert with more people. Their bestsellers are raspberry cheese tarts and earl grey lavender cupcakes which run out without hours everyday!
With SBL’s financing, we can help you:
- Buy or lease equipment(s)
- Purchase inventory or supplies
- Rent space or remodel
- Create and execute a marketing campaign
- Hire and train staff
- Secure the licenses and other permits you may need
Launched in February 2018, SBL Singapore aims to provide greater financing and funding to all local F&B businesses. Other than funding, SBL also gathers many mentors in the F&B industry through our Coach-and-Go programme to help local businesses grow and enter the overseas market.
With a SBL Café / Bakery Business Loan, you pay for an inexpensive and reasonable rate of interest on regular monthly settlements. This leaves you with enough capital and funds to remain competitive and better your business. Also, you will receive the mentor-ship assistance and operation assistance that you require.
- Max Loan Amount$1,000,000
- Min Years to Qualify0.5
- Min. Annual Turnover< $100,000