How to Fund Startup F&B Businesses: SBA Community Advantage Loans

Do you need funding to open your dream restaurant? Maybe you have a great idea for “the next big thing” in coffee or craft beer? While successfully launching a new venture takes a lot of money for equipment, staffing and supplies, this funding has long been hard to come by due to the “high risk” nature of startup businesses in the food and beverage (F&B) industries.That’s why the U.S. Small Business Administration (SBA) Community Advantage loan program is a great resource for new F&B ventures—like restaurants and cafes, food trucks, craft breweries, distilleries and others—that likely won’t qualify for traditional bank loans.

How can you use Community Advantage loans to start and grow your F&B venture and what does it take to get one? Let’s begin with a breakdown of what these loans are and who is eligible for them.

What Are SBA Community Advantage Loans?The SBA’s Community Advantage loan program is a partnership between the SBA and non-profit, mission-driven…