I have a question about abtaining a business loan. There is this restaurant business i am interested it cost $180k but all i can afford is $135k. Assuming i have good credit but have no prior experience related to the business. Is it still possible for me to obtain a loan? What r my options? thx
Answer no prior exp running a restaurant; UNLESS you are
ready to hire a manager who has such experience, do not
touch this deal.
the #1 business failure category in the US is restaurants.
my suggestion; either find a field where you have
either extreme passion or years of experience OR
become a small sized VENTURE CAPITALIST.
