'Rent-Try-Buy' equipment program open to restaurants
Vancouver – Silver Chef Canada's goal is to provide funding and equipment rentals to hospitality businesses to help them grow and reach their potential over the next five years.
To this end, it is making $500 million available to Canadian hospitality businesses, including restaurants, coffee shops, pubs, clubs and franchises. This financing can be used to purchase equipment, through its flexible "Rent-Try-Buy" model, Silver Chef said in a press release.
The program allows hospitality operators to rent the right equipment without having to commit to large amounts of capital up front, allowing them to grow their business. Along with financing, the company will provide education resources to businesses to support their growth, the company said.
“Forecasts from Restaurants Canada, indicate how higher operating costs and a slowdown in consumer spending will impact the hospitality industry this year," Robert Phelps, president of Silver Chef Canada. "At a time when many Canadian hospitality businesses are facing significant challenges, Silver Chef is here to offer support to small and medium-sized businesses every step of the way.”
The company has provided funding for more than 2,000 hospitality businesses in Canada and, through its ‘Let’s Make It Happen’ initiative, plans to support the growth of many more over the next five years. This finance is being raised through international investment.
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