I need a loan for a restaurant?
I purchased an existing restaurant 3 months ago with owner financing. The restaurant is very profitable and I would love to pay off the old owner. Are there any banks that will give a small business loan to a restaurant that I've owned for 3 months? I need about $100K. And I have excellant personal credit.
Public Comments
- yes- I may be able to help you with a commercial loan- contact me.
- If you've never been in business before, I would strongly recommend that you talk to a business counselor before you do anything especially spend money. I'd call the local office of SCORE (go to http://www.score.org and input your zip code to find the chapter nearest you), the advice is FREE. The counselor at SCORE will most likely advise you to write a business plan which is very good advice because it will force you to dig out all of the start up details and the costs of buying a restaurant and force you to also understand all of the aspects of this business including the customers you'll concentrate on (your market ) and how you'll go after them. Try this link : http://www.ychange.com/small-business-consulting-articles.html and read some of the articles especially the ones about a business plan and starting a business.
