Opening New Wine Bar/Restaurant & Retail Store
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Withdrawn |
| Grade: | AA | DTI: | 27% |
| Lender Rate: | 12% | Borrower: | wine_guy |
| Finished | State: | TX | |
| Funded: | 7% | Group: | (No Group) |
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Purpose of loan: To purchase wine inventory for our soon-to-be-open wine bar/restaurant and wine retail shop. Currently, most of our assets are tied up in the build-out costs, and we do not get our TI (tenant improvement allowance) from the landlord until we have been open two months (which will more than cover this loan). We plan to open with 250 labels and 3000 bottles, and our average retail price will be $30 a bottle. We are located downtown in a major city in a new retail building, We are on track for an early 2008 opening. My financial situation: I am still working as an engineer and will continue until the business can support both my wife and me. My wife is getting this business up and running as her full-time job. We both have excellent credit and have owned two houses--we sold our last house to get the equity out to start this business. We are both certified Sommeliers and have extensive experience and contacts in the business. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 249266 | Opening New Wine Bar/Restaurant & Retail Store | AA | $15,000 @ 10% | Dec 11, 2007 | Loan created |
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