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    5 Replies Latest reply on Jul 25, 2008 4:16 PM by Bigfunder

    Equity Capital Needed for Restaurant Start-Up

    SliceofLife32 Newbie

      I have a great opportunity to open up the only restaurant in a medium-sized rural town. The building I am looking to purchase has a restaurant on the first floor and three apartments on the second. There has been no restaurant in operation for two years (because of owner problems - not lack of business) and the apartments are rented. There are several larger businesses in this town and surrounding communities. Many of these surrounding towns have no restaurants either.

      I have a business plan, my start-up costs and projections done. I have also been pre-approved for a loan. However, my obstacle is that I need 10% of the real estate purchase price to complete my dream. I have sought out investors with no luck. I have also sought lenders who will do 100% financing, but they all have minimum loan amounts which are higher than what I am seeking.

       


      I am needing start up capital in the amount of $27,000. Would be willing to pay back monthly or as a short-term investment. Terms are negotiable. I have been working on this business opportunity for a year and I am ready to walk in the doors and start my restaurant as soon as I can obtain this start up money.

       


      I have read many posts on here and I can say I have used the SCORE counselors, have been in contact with the SBA, Rural Development Department in my area, and town council. Again, the only thing I need is an investor to help me realize my dream.

       


      Only serious replies please. I do not need a counselor or someone who will charge me for their service. If I had money to pay your fee, I would not need an investor. Thank you for any ideas or suggestions.