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You and your business partners will need to put together assets that can be used as collateral.
Our estimates for revenue are an average of $6,000 per day over 22 operational days per month for a total revenue stream of $132,000 a month.
After factoring in staff costs of $25,000 per month and operational costs of $75,000, we are left with enough money to comfortably repay a loan under those terms.
I have over 10 years of direct restaurant management experience at high-volume locations in San Francisco and New York.
Panda Tip: Tell your potential lender how much you need and why.
markets, including New York City and the San Francisco Bay Area, and overseas in South America and Europe.
The city is one of the top markets for restaurants in the country. In essence, San Francisco is a trend-setter in the food world. A bank loan proposal is a document used by prospective borrowers to apply for a bank loan and includes details such as how much you want to borrow, why you are borrowing, how you will repay, and other essential information. I also hold a Bachelor’s Degree in Food Business Management from the Culinary Institute of America. Last Name], I have been in the restaurant industry for more than two decades, holding positions from the front of the house to the back of the house. I first started out in my grandfather’s restaurant busing tables and doing dishes, and for the past 5 years I have been the manager of a highly acclaimed and popular destination restaurant in San Francisco. I believe my time is now, as I have the necessary experience, industry relationships and connections to make this happen. Last Name] Panda Tip: Give the lender a sense of your business’s history and where it stands today, along with your market, target clientele, and overall industry. Since those early days in grandpa’s kitchen, I have wanted to run my own restaurant.He has helped open some of the cities most popular and well-respected establishments. His focus is on using fresh ingredients to craft cocktails that pair well with food. He studied cooking in France, and held two apprenticeships in Spain.The other investor is a seasoned chef who has worked for some of the finest restaurants in the U. His food has been lauded as “cutting-edge California cuisines.” I bring to the team the front-of-house experience, handling the direct contact with customers and managing the service staff.Panda Tip: Lenders will ask for security for your loan.Collateral is essentially insurance for the lender in case cash flow projections don’t materialize. Explain who you are, your background and qualifications, the type of business you want to start, and where the loan money will be used. And include a photo of yourself to personalize your proposal. Panda Tip: The introduction section should be treated like an executive summary with a human touch.