I would like to open 3 pizza stores in California. I have a partner that is willing to co-sign/invest in the project.
The total amount needed to open all 3 is $750000.
Both of us have credit scores of 715+ and I have years of chain-specific supervisory experience and industry experience. I have $40000 to devote to the project. He has $300000 in the bank along with a $500000 home that he's willing to put up as collateral.
Would I/we be able to qualify for an SBA loan of $710000 with the figures above?
Is there any way this is possible?
...............................................................................
yes, I am quite sure they wil give you the money.,
however, this just sounds like a really crappy and risky idea to me.
edit- buy a couple of real estate rentals intstead would be a WAY better idea to me.
with restraunts you have a ton of headaches.
...............................................................................
Being a small business owner, you need to pay extra attention to management of financial resources. Since growth of your business somehow depends on its financial position, you should always be cautious about cash flaw within or outside your business. It is quite true that lack of finance can become a big problem in the way of the success of your small business.
http://www.worldbestloans.com/businesslo...
Since market is crowded with various business loan schemes, every small business owner can manage to get the desired amount without any problem. Therefore if you own a new and small business organization and financial shortfall is bothering you, then these loans can prove to be the best help for you.
...............................................................................
The SBA generally lends to established businesses, even though you guys seem like a safe investment. You may also consider private investors and banks.
...............................................................................
it is but pizza you would be going up against big chains i would not recomend it but i manage a taco bell it makes 5000+daily
Is this $750000 SBA loan possible?
This entry was posted on 11:11:00 PM and is filed under Credit . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.