Loan for 2nd restaurant
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Withdrawn |
| Grade: | C | DTI: | 21% |
| Lender Rate: | 17% | Borrower: | seckel714 |
| Finished | State: | TX | |
| Funded: | 0% | Group: | (No Group) |
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Purpose of loan: This loan will be used to? My husband and I will be opening a restaurant very soon. We have enough money but to open, but I want to have some reserves in case things are more exspensive than what we planned for. My husband has been in the restaurant business for 17 years and this is his second restaurant (first one was very successful but he sold it). He has extensive experience and his chef is coming from a very high end restaurant in California. My financial situation: I am a good candidate for this loan because? I will continue my full-time employment once this restaurant opens while my husband focuses on running the restaurant. Even if the restaurant doesn't make any money, I make enough money to pay this loan very comfortably. I have $9,000 in my personal checking account plus investments and a business checking and savings account. I have quite a bit of equity in my house and property overseas that is currently in contract and will sell soon. I have been in my field for 9 years and my husband has been in the restaurant business for 17 years. We have done extensive research about the demographics where the restaurant is located. We have planned very thoroughly every detail and have gone out of our way to make sure we have the finest chefs and very qualified employees. Our menu has been reviewed by professionals and carefully crafted to optimize sales. Monthly net income: $ 7,418 Monthly expenses: $ Housing: $ 1,408 Insurance: $ 126 Car expenses: $ 560 Utilities: $ 170 Phone, cable, internet: $ 65 Food, entertainment: $ 200 Clothing, household expenses $150 Credit cards and other loans: $ 100 Other expenses: $ 50 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 361651 | Loan for 2nd restaurant | C | $25,000 @ 17% | Jul 03, 2008 | Withdrawn |
| 361750 | Loan for 2nd restaurant | C | $9,900 @ 17% | Jul 07, 2008 | Loan created |
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