Case Study
Cafe finance hub · Equipment line · First venue
How the 2022 World Barista Champion's first cafe was fitted out and equipped on an equipment line arranged in ten business days, before a single coffee was sold at the site. Named and published with the client's permission.
Quick Answer
Homebody Union, the first cafe from a World Barista Champion, financed its Fitzroy fitout and equipment through an equipment line arranged before the doors opened, with no cafe trading history yet and without putting property up as security: a real client case study, written up with permission. The product is explained in the equipment line of credit guide and the commercial page is equipment finance.
Also called: a client story, a real example, a customer story. All three mean the same thing here: one real deal, written up with the client's permission.
| Field | Detail |
|---|---|
| Client | Anthony Douglas, 2022 World Barista Champion, co-founder of Homebody Union |
| Business type and location | Specialty coffee roaster opening its first cafe, 93 Moor Street, Fitzroy VIC |
| Operator profile | Experienced operator, first venue; the brand had traded online and at events and trade shows since early 2023, with no cafe trading history |
| ABN age at application | 2 years plus |
| Trading history at application | Online and events trading since early 2023; none at the cafe site |
| What was financed | The cafe fitout (base build, joinery and kitchen) and cafe equipment |
| Facility type | An equipment line, with a fitout sub-facility paid direct to the fitout company against invoices, and equipment items drawn as separate schedules |
| Structure | Fitout drawdowns paid to the fitout company as invoices were uploaded; 120-day repayment holiday on the fitout facility, then monthly instalments; the October equipment item over 60 monthly instalments; no deposit on the finance, with the business funding a meaningful share of the project itself; no property put up as security |
| Lender type | A non-bank equipment finance lender |
| Enquiry to signed contract | 6 business days (13 to 21 April 2026) |
| Enquiry to facility agreement executed | 10 business days (13 to 27 April 2026) |
| Outcome | The fitout was funded in stages through the build, the equipment was added in October, and the cafe opened on 5 November 2026 |
| As of | November 2026 |
Source: Switchboard deal file, April to October 2026; dollar amounts are not published.
This is one deal, settled in April 2026; the outcome depended on the client's position, the lender's policy and the market at the time, and it is not an offer, a quote or a result anyone else should expect.
The deal in brief. Experienced operator, first venue. Three years selling coffee online and at trade shows, a signed lease on Moor Street in Fitzroy, a fitout quote and no cafe trading history yet. Anthony Douglas needed the fitout and the equipment funded before a single coffee was sold at the site, without putting property up as security. We set up an equipment line with a non-bank equipment finance lender: the fitout paid direct to the fitout company invoice by invoice, with a 120-day repayment holiday before instalments began, then the equipment drawn in October 2026 as its own schedule, with the business funding a meaningful share of the project itself. Enquiry on a Monday, contract signed in six business days, facility executed in ten. The cafe opened on 5 November 2026. This is one deal, settled in April 2026; the outcome depended on the client's position, the lender's policy and the market at the time, and it is not an offer, a quote or a result anyone else should expect.
Can a new cafe get fitout and equipment finance before it opens?
Yes, this one did. Homebody Union had no cafe trading history when it applied in April 2026, because the cafe did not exist yet, and the facility was executed ten business days after the enquiry. What the lender could read instead was three years of the brand selling coffee online and at events and trade shows, a signed lease on the Fitzroy site, a written fitout quote and an operator with a long record in specialty coffee.
That is the pattern we see on first-venue files that get a clean answer: trading somewhere first, even if not at the site. A business that has never sold anything is assessed on the operator and the security alone, and that is a harder file, as our guide to equipment finance with a new ABN sets out stage by stage. Where the brand sits on the trading-history ladder changes which lenders will look at it, which is the subject of the cafe finance trading-history tiers.
What did the lender want to see with no cafe trading history?
The lender wanted evidence that the business existed, that the site was real, that the cost was known and that the operator could carry it. Anthony sent the signed lease, the fitout quote and bank statement access the day after the enquiry, and the identification and entity documents over the following four business days.
- The lease. Signed, on the Moor Street site, so the fitout had somewhere to go.
- The fitout quote. A written quote from the fitout company, which became the first thing the facility paid for.
- Bank statements. Read-only access to the business account rather than PDFs, which is faster and is what most non-bank lenders now prefer.
- The entity. The company and structure documents behind the brand, so the lender knew exactly who it was lending to.
- The trading record. Three years of online and events sales, which stood in for the cafe revenue that did not exist yet.
- The operator. A World Barista Champion who had run coffee programs for other businesses before his own.
- The security position. No property was put up, so the facility sat on a general security agreement and a director's guarantee, which the lender was comfortable with on this file.
The full list for a cafe fitout file is in the cafe fitout and equipment finance documents checklist, and the lender-side view of hospitality files is in the hospitality equipment finance guide.
How does an equipment line pay for a fitout?
It pays the fitout company directly, invoice by invoice, instead of putting cash in the business's account. On this file the line carried a fitout sub-facility and, later, an equipment schedule, which is why one facility covered both the build and the gear.
- Invoice upload. Each fitout progress claim or equipment invoice was uploaded to the lender's platform.
- Supplier paid direct. The lender paid the fitout company or the equipment vendor, usually the next business day.
- Repayment holiday. The fitout drawdowns carried a 120-day repayment holiday from the first drawdown, so instalments did not start while the build was under way.
- Instalments. At the end of the holiday the fitout balance converted to monthly instalments.
- Equipment on its own schedule. The October equipment purchase was drawn as a separate schedule over 60 monthly instalments, the same shape as a chattel mortgage on a single asset.
The mechanics of the product, including what an equipment line will and will not fund, are in the equipment line of credit guide; the fitout side specifically is in the fitout finance guide, and the reason fitout and equipment are often split is explained in cafe fitout finance, chattel versus building split.
How long did it take from enquiry to facility?
Ten business days from the website enquiry to an executed facility agreement, with the contract signed on day six. The build then ran from May to November, and the facility was drawn in stages across it.
- Monday 13 April 2026, enquiry. Through the website contact form after a brand search.
- Day 1, documents in. Signed lease, fitout quote and bank statement access; identification and the entity documents followed over the next four business days.
- Day 3, lender indicative. The scenario went to two lenders with the file attached.
- Day 6, contract signed. Tuesday 21 April 2026.
- Day 10, facility executed. Monday 27 April 2026, with the onboarding call and drawdown instructions the next day.
- 21 May 2026, first fitout drawdown. Timed to the fitout contract and deposit invoice, with the 120-day repayment holiday running from the first drawdown.
- 1 October 2026, equipment drawdown. Drawn as its own schedule, over 60 monthly instalments.
- Wednesday 5 November 2026, doors open.
Ten business days is quick for a first venue with a fitout to fund, and the reason is the file, not the lender: everything the lender asked for arrived inside four business days. What sets the pace on cafe files generally is covered in fast cafe funding in Australia.
What did the business put in itself?
A meaningful share of the project, from the brand's own trading, before any finance was drawn. There was no deposit on the finance itself; the business's contribution went into the project, and the line funded the fitout and, later, the equipment.
No property was put up. The lender took a general security agreement over the business's assets and a director's guarantee, which is the usual position for a first venue whose owner would rather keep the home out of the business, and it was enough for this facility.
How the costs of opening a cafe split between what finance will cover and what the owner has to bring is set out in what it costs to open a cafe in Australia and what finance covers.
What would have stopped this deal?
The things that carried this file are ordinary, and so are the things that stop files like it. The list on the right is drawn from first-venue cafe files in general, not from this one.
What helped this file
- Three years of trading somewhere (online, events, trade shows) before the cafe
- A signed lease and a written fitout quote on day one
- An operator with a world title and years running coffee programs for others
- A clean business account, with statement access granted immediately
- A clear split between the business's own money and the finance
What would have stopped it
- No trading history anywhere, not just at the site
- A lease still under negotiation, or no written quote
- Asking to borrow the full cost with nothing from the business
- Problems on the business account's conduct or the credit file
- Asking for a second unsecured facility before the doors open and the card revenue exists
Most knock-backs on first-venue cafe files trace to one of the five on the right. When one of them is on your file, the declined business loan guide covers what can be fixed before applying and what cannot.
What happened after settlement?
The fitout was funded in stages as the build progressed, the equipment was drawn on 1 October 2026, and the cafe opened on 5 November 2026. The first fitout drawdown went through on 21 May, so the facility was in place and paying the fitout company for the whole of the build.
One general point for the next first-venue owner, drawn from fitouts in general rather than this one: a repayment holiday that starts with the first drawdown is a fixed number of days, and fitouts tend to run long, so it is worth timing the first drawdown to the build rather than to the approval. Homebody Union's cafe, a coffee-focused experience bar at 93 Moor Street, Fitzroy, is now open, and the finance side of the story is on this page because the client agreed it could be. More first-venue material is on the cafe and hospitality finance hub.
From our broking, indicative
On first-venue cafe files like this one, three things decide the outcome more often than the business plan does.
- Evidence of trading somewhere else first: a brand that has sold online or at events for two to three years is read very differently from a cold start, even with no cafe revenue yet.
- The split between what the business puts in and what it borrows: files where the operator funds a meaningful share of the fitout themselves tend to get a cleaner answer than files asking for the lot.
- The timing of the first drawdown: a repayment holiday that starts with the fitout deposit can end before the cafe opens if the build runs long, which is common.
Indicative only, based on files we have placed, not a quote or an offer; actual terms depend on lender policy and your circumstances at the time of application. This is one deal, settled in April 2026; the outcome depended on the client's position, the lender's policy and the market at the time, and it is not an offer, a quote or a result anyone else should expect. Not financial advice.
A first cafe with no site trading history and a fitout to pay for was financed in ten business days, without property security, because the file was complete on day one and the brand had three years of trading behind it. One equipment line paid the fitout company direct in stages through the build and added the equipment in October. The cafe opened on 5 November 2026.
Key takeaway: get the lease, the quote and the statements ready before you enquire, fund a real share yourself, and time the first drawdown to the build, not to the approval.Frequently Asked Questions
Yes. Anthony Douglas and Homebody Union are named with their written permission, and every date and fact on this page comes from the deal file. Dollar amounts are not published.
Not on the strength of this page. This is one deal, settled in April 2026; the outcome depended on the client's position, the lender's policy and the market at the time, and it is not an offer, a quote or a result anyone else should expect. A first-venue file is assessed on its own trading history, lease, quote, security and the operator behind it.
Usually some, but not necessarily at the cafe. Homebody Union had no cafe revenue when it applied; it had three years of online and events trading, which the lender could read. Pure cold starts are harder and are assessed more on the operator and the security.
In this case, yes. The fitout was funded through a fitout sub-facility paid direct to the fitout company as invoices were uploaded, and the equipment was drawn later as a separate schedule on the same line. Not every lender structures it this way, and some fitout costs are not financeable at all.
No property was put up. The lender took a general security agreement over the business's assets and a director's guarantee, which is a common position for a first venue and was enough for this facility.
Usually not until it is trading. Lenders assess a working-capital facility on card revenue, which a cafe does not have before it opens, so the practical order on a first venue is fitout and equipment first, then working capital once there are a few months of takings to read.
We do not name lenders in case studies. It was a non-bank equipment finance lender with an equipment line product that pays suppliers direct; the right lender for another file depends on that file.
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