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6 Replies Last post: May 31, 2008 5:47 PM by LUCKIEST

Caterer to restaurant new business needs funding

May 30, 2008 10:30 PM

hssears 3 posts since
May 21, 2008

Hello everyone, I am new to this forum and have been reading all of the post. I am in need of startup, reserve, and advertising money for my new business. I have established a very well clientle with my catering business and now will be opening a restaurant. I have already invested $25,000 in the new building however I am now in need of additional funding. I have contacted SCORE and left a message for a counselor and have not received a call back thus far ( will recontact on Monday). My personnel credit is fair, however I have not established business credit yet. Please email me with any ideas mrs212@bellsouth.net

Tags: start-up, business_loan Report as inappropriate

LUCKIEST 7,912 posts since
Aug 6, 2007

1. Re: Caterer to restaurant new business needs funding May 31, 2008 11:45 AM

Caterer to restaurant new business, a *Latin Restaurant and Caterers*<br /<br />Welcome and good luck. You said that you contacted SCORE. You can also visit SCORE
online and write to a SCORE Counselor 24 / 7.
SCORE can help you develop a Business and Marketing Plan.
How soon do you plan on opening this Restaurant??
How much additional funds do you need?? For How long?? And how will you pay the funds back??.

Again good luck, LUCKIEST

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Adducent 332 posts since
May 22, 2008

2. Re: Caterer to restaurant new business needs funding May 31, 2008 12:35 PM

Hi, welcome to the forum. Have you prepared a business plan to present to funding sources or investor prospects. Thats an important thing to have. Here is a resource that I recently found when researching for one of my clients:

http://www.nationalrestaurantfunding.com/
Products.html

They might be able to help you. Be cautious though about working with any funding sources that require an "application or preparation fee" or any other type of up front fee. If they are brokers or service related firms that will introduce you to sources of capital ... you should only pay them on success.

Dennis Lowery,
Adducent, Inc.

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hssears 3 posts since
May 21, 2008

3. Re: Caterer to restaurant new business needs funding May 31, 2008 12:40 PM

in response to: LUCKIEST

Hello Luckiest,
Yes I sent an email to a score counselor last night. We do have a business plan that is in the process of being updated. We plan to open up the restaurant in late August early September. We are in need of 50K. and for a period of 3-5 years to be paid back in installments.

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hssears 3 posts since
May 21, 2008

4. Re: Caterer to restaurant new business needs funding May 31, 2008 12:46 PM

in response to: Adducent

Hi Dennis,
Thank you for the resource information and your advice. I will definitely check out the website. Yes, we are in the process of updating our business plan.

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Adducent 332 posts since
May 22, 2008

5. Re: Caterer to restaurant new business needs funding May 31, 2008 12:55 PM

in response to: hssears

You're welcome. Here's another site I spotted: http://www.dynamiccapitalconsulting.com. I have not worked with them but will be checking them out for a client.

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LUCKIEST 7,912 posts since
Aug 6, 2007

6. Re: Caterer to restaurant new business needs funding May 31, 2008 5:47 PM

MANAGEMENT SOLUTIONS IS NOW OFFERING START UP BUSINESSES LINES OF
CREDIT TO $350,000 NO DOC / STATED INCOME
FULL DOC TO $10,000,000
CALL MARK A. DIPRETE FOR DETAILS 401-942-3607

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Caterer to restaurant new business needs funding

May 30, 2008 10:30 PM

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