Canadian hospitality funding partner Silver Chef has partnered with Restaurants Canada to offer equipment financing for restaurants.
As part of the partnership, Restaurants Canada’s members will receive funding to expand their businesses.
The deal will help restaurant owners and operators to purchase foodservice equipment using the funding without investing their own capital. However, they will need to invest in buying equipment such as single espresso machines and custom-designed cooking systems.
Silver Chef Canada president Robert Phelps said: “Silver Chef has $500m to invest in Canadian hospitality businesses and we’re proud to be able to share that with the members of Restaurants Canada. Together we can help hospitality businesses grow and the industry as a whole thrive.”
Silver Chef has served as a funding partner for more than 2,100 Canadian hospitality businesses in Canada and 30,000 businesses across the world.
Restaurants Canada president and CEO Shanna Munro said: “We are proud to partner with organisations who share our focus on the long-term sustainability of the hospitality sector.
“Silver Chef is disrupting the finance market with accessible ways for businesses of all sizes to make their dreams come true. We are so thrilled to give our members greater access to their innovative financing options.”
Restaurants Canada has a network of more than 30,000 foodservice businesses such as restaurants, bars, caterers, institutions and suppliers.
The association currently employs 1.2 million people and serves 22 million customers every day across the country.