Business loan advice

Juliana123

Hi there

Hoping you can help. My boyfriend has recently bought a restaurant (leasehold) with his inheritance and is looking for a business loan to help with the refurb.

Can anyone sugguest any?

Many thanks in advance.

dealer_wins

Shouldnt he have secured this before spending his inheritance?

DCFC79

Yes a bank would be a start I guess.

Juliana123

Thanks - really helpful

DCFC79

Juliana123 wrote: »

Thanks - really helpful

The banks are the best place to go, its obviously dependant on if he has a good relationship with a bank.

meer53

^ This

And depending on how much he is looking for, he will need a good business plan.

_Andy_

Juliana123 wrote: »

Thanks - really helpful

No need for sarcasm. A bank WOULD be a good place to start.

Janie4Now

....and people wonder why so many small businesses go bust in the first year.....

Has the purchase actually gone through or can it be stalled whilst he gets his act together?

If not, go to the bank. With a business plan. Quickly!

SeanG79

refurb the front of house or in terms of equipment in back of house?

Asset finance is available if looking to replace equipment, to a degree asset finance is also available for a lot of the front of house stuff too.

a lot more information is required. Restaurants are viewed as a high risk sector in the current economic climate and being a leasehold, asset finance will require landlord waivers, etc. can get messy...