Equipment Financing For Start-Up Restaurant In Cali

DECLINED

Usually this would be a slam dunk but at the moment we do not have any lessors who are leasing to food / Bev at the moment;

We tried...

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Originally Posted by getitfunded

Appreciate any help, (Please PM me)

Customer is re-opening/starting-up a restaurant in DTLA and needs $50,000 in start-up financing for restaurant equipment.
- MBA in marketing and business management
- 10 years experience managing a restaurant
- The executive chef as 20+ years experience
- In a prime location downtown
- Credit is 720 with 22 trade-lines (oldest account 22 years) with the avg trade-line being 7.5 years
- Exceptional payment history on all accounts including 2 RE Loans, 1 Auto Loan, 1 Student Loan
- $165,000 in available credit currently at 24% utilitation
- PRE-REVENUE

Usually this would be a slam dunk but at the moment we do not have any lessors who are leasing to food / Bev at the moment;

We tried...

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SBA is opening Rest . Fund this week

https://www.sba.gov/funding-programs...alization-fund


Plus, you have EIDL Funding available @ 3.75%

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Originally Posted by Yankeeman07

SBA is opening Rest . Fund this week

https://www.sba.gov/funding-programs...alization-fund


Plus, you have EIDL Funding available @ 3.75%

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Thank you Dave!

I'm going to check the Rest. Fund out now, that would be a perfect option for this customer.

Quote:

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Originally Posted by Yankeeman07

SBA is opening Rest . Fund this week

https://www.sba.gov/funding-programs...alization-fund


Plus, you have EIDL Funding available @ 3.75%

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My understanding is that this SBA program is for restaurants that are already in operation and lost revenue due to COVID. This deal is a startup.

RRF is for existing businesses in business prior to COVID, so is the EIDL program, not for start-ups

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Originally Posted by sigmundpannu

RRF is for existing businesses in business prior to COVID, so is the EIDL program, not for start-ups

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This was the post:

"Customer is re-opening/starting-up a restaurant in DTLA and needs $50,000 in start-up financing for restaurant equipment."

Unsure if is this the original owner, a new owner of an existing restaurant - Is this owner a self-employed individual ( than EIDL may be a fit)

I'm sure that the broker has much more info than what was posted.

Maybe he goes with a personal line of credit since he has a 720 FICO and appears to have a good credit history.


Not enough info to make a determination -- BUT - IT MAY BE A POSSIBILITY!

he has 2 mortgages.... cash him out on the equity.

EASY DEAL!

Contact me ASAP!

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Anthony Auriemma
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Fax: 888-440-1760
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Email: anthony@BilderbergBusinessLenders.com
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www.BilderbergBusinessLenders.com


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