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My brother Tom just has started his restaurant business in Hampshire area. It’s a grilled and steak house that serves ribs, steaks, and many beef based cooking. I guess Tom is really best in his field. He’s been working as a chef in many hotels before. His career keeps rising, and finally he reach the chief chef in his hotel he’s working. And after almost 25 years working in 5 stars hotel and achieve many credits and awards in his profession, he decided that now it’s time for him to open his own business, by opening his first own restaurant. He’s an experienced chef with many acknowledgments. There’s no doubt that his cooking are liked and nevertheless delicious.
By the time Tom wants to open his own restaurant business, he had a discussion with me. It’s about the funding to open his business. For several years Tom had managed to save for about 50,000 pounds, which is still short to open up his new restaurant. The biggest cost would be for renting a place in strategic corner near Haywood to draws people attention, which approximately asking for up to 10,000 for a year! And this off course not includes any equipment he needs to buy to complete the inventory of his new restaurant. All the stuff that Tom should have to open his restaurant, like dining chairs, tables, stoves, plates, and many other material. We calculated the purchase of this assorted items is up to 120,000 pounds. Not to mention for daily cost operational Tom should prepare to run his restaurant. Well let’s just say that he’s still in short.
Then he asked for my opinion on how to solve this problem. He’s still in short of Money. At first he wanted to use his credit cards to finance his opening. But I forbid him. The interest rate is too high! Then I suggest him to take a loan and use his house as collateral. I suggest he gather enough information on how to get a business loan in low interest rates. I recommended a site we he can begin to gather information from. It’s essential for Tom to get the lowest monthly rate payment, since his business is new and aren’t not gain any profit just yet. We can’t just expect Tom to pay high interest loans every month while his restaurant is still newly opened can’t we?
So Tom did what I told him to do and began to browse this site to gain more information about getting a low interest loans for him to open his first restaurant. He patiently browses it page by page to find which loans best suits to him. And finally he found in the business loan directory, his first business loans. He thinks it’s the best for him to get started. Its interest is only 7.9% per annual. So he fills all the application and hoping that his credit proposal won’t be denied.
