business loan |
| Posted by: rhonda Aug 25 2004, 04:50 PM |
I am trying to open a restaurant in the Kings Mountain area of North Carolina. I am having difficulty finding a lender. Do you have any suggestions?  |
| Posted by: loanuniverse Aug 25 2004, 06:39 PM |
| Rhonda: Do you have a formal business plan that includes a market analysis? Providing that kind of support might help convince a lender. Being completely honest, this type of loan will be difficult to fund. Most mainstream lenders avoid giving loans to restaurants, and your project involves a startup. That is what they call having two strikes against you. Sorry to be the bearer of bad news. |
| Posted by: Commercial Lender Aug 26 2004, 05:58 PM |
| Restaurants have a notorious rate of failure. High credit scores, availavle capital and business exp are the most important factors. Do you intend to finance the business or also the real estate? |
