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5 Replies Last post: May 16, 2008 4:48 PM by LUCKIEST

Purchasing small Miami Beach Cafe.Need help getting Loan!30K

May 16, 2008 11:07 AM

Click to view wide_eyedgrl's profile Professional wide_eyedgrl 5 posts since
May 16, 2008

Business: Yesterday, I Signed contract with current Cafe owners. I gave a them 30% down for their small Gelato ice cream Cafe and bistroshop. I must give them payment in full by May 30th. Purchase price of establishment 45,000$ I now owe them 31,500$. I am currently looking for a small business loan. I have never had to file for a business loan. HELP! Where do I start? Do i need a cosigner? My business plan is almost complete.

About me: I am young recent college graduate. I have a my BA in Restaurant Management, and an Associates in Culinary Arts. My dream has always been to start up a restaurant. The past two years I have been bartending and managing a sports bar in Miami beach, with that said, My income has been tip based and I cannot prove income. Is that going to be an issue when trying to get a loan? I have grown a great network base in South Florida due to my hobby. I am the current Miss Florida Keys USA and previous Miss Miami Beach USA. I was honored in representing South Florida in the 2007 and 2008 Miss Florida USA pageant. I feel the connections I have made over the past two years, will help me run a succesful business.

Where is my best bet in finding funding? HELP!!!!
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Click to view MRFINANCE's profile Mogul MRFINANCE 101 posts since
May 11, 2008
1. Re: Purchasing small Miami Beach Cafe.Need help getting Loan!30K May 16, 2008 12:10 PM
Hi!
Sorry to say it's going to be tough. Too bad the banks don't judge by BEAUTY or as a beauty queen you would be a cinch.

Try to find a friend or private investor and pay them a decent interest rate say 12%.

My company can help you once you get started. We can help you start processing credit cards and then getting cash advances based on your monthly sales.

Call me! I can help.

Joe

718-692-CASH

Richton Funding

www.businessloansfast.net
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Click to view LUCKIEST's profile SCORE LUCKIEST 4,468 posts since
Aug 6, 2007
2. Re: Purchasing small Miami Beach Cafe.Need help getting Loan!30K May 16, 2008 2:33 PM
Purchasing small Miami Beach Cafe. Welcome and good luck.

Are you looking for a partner?? You have a great network base in South Florida.

Can any of your friends help out?? When it comes to Money, you find out who your friends really are.

Finally what happens on May 30, If you do not have the funds??

LUCKIEST
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Click to view amspcs's profile Mogul amspcs 192 posts since
Oct 18, 2007
3. Re: Purchasing small Miami Beach Cafe.Need help getting Loan!30K May 16, 2008 2:47 PM
Oh boy, I live right down the road from you, and I certainly like to eat!!! Be sure to advertise your gradn opening on this forum.

As -a previous poster pointed out, advances of credit card receivables is one option. There are many different programs out there--as an astute businessperson you will want to shop around and compare. Let me know if interested and I'll give you several contacts ...

I also know a husbankd-wife team out of the West Boca Chamber of Commerce who specializes in hard-to-place loans. I don't have any sort of interest here, just folks I have breakfast with once a week as part of our networking group who I have grown to know and respect as decent businesspeople. Again, if interersted, let me know and I'll provide contact info.

Good luck.

B Godofsky
www.MerchantServices-help.com
amspcs@juno.com
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Click to view wide_eyedgrl's profile Professional wide_eyedgrl 5 posts since
May 16, 2008
4. Re: Purchasing small Miami Beach Cafe.Need help getting Loan!30K May 16, 2008 3:16 PM
in response to: LUCKIEST

Mother is moving next week to help me get things started. I definately do not want a partner, I dont know what kind of financial outcome I am going to get out of this cafe especially thr first 3-6 months. Having a business partner means splitting earnings. I cant forseek the income being enough for two households, especially the first year. If I do not have the funds from a loan by the 30th, then my father will lend me the money. However our agreement is that I try everything in my power to get funding on my own before resorting to my dad. personal reasons of course. If you have any idea, please let me know. Thanks for the response.
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Click to view LUCKIEST's profile SCORE LUCKIEST 4,468 posts since
Aug 6, 2007
5. Re: Purchasing small Miami Beach Cafe.Need help getting Loan!30K May 16, 2008 4:48 PM
in response to: wide_eyedgrl
Purchasing small Miami Beach Cafe, You said it all

No partner, Hopefully you have a great network base in South Florida and your friends might help out.

If Not, Then there is always Dad.

Again good luck, LUCKIEST
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