Restaurant Coupons Colorado Springs
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Looking to Refinancing your Restaurant Building?
Restaurants are among the most popular sorts of enterprises opened by entrepreneurs, especially those that like working with food, handling the general public, and / or have a genuine flair for presentation. Some join the culinary profession due to that old proverb, Folk have to eat somewhere. True enough alright, but they do not have to eat at your place. With a surplus of cafes in most communities, opening or purchasing an eatery could be a dodgy proposition, especially for the unwary.
But since youre reading this, youve probably already survived the swings and roundabouts, and now have yourself a moderately healthy business. You may be thinking about expanding, refurbishing, or just updating your kitchen clobber. As you discovered the current page, you may be seriously considering refinancing a commercial eaterie building.
And why not? The major players do it all of the time. Perhaps the smart ones do. According to the May twenty, 2011 issue of Restaurant news Magazine, Oklahoma City-based Sonic Corporation, the countries largest chain of drive-in restaurants, has just announced certain of its subsidiaries have issued a total of more than $600 million in senior secured notes to act as a securitized financing vehicle.
Clifford Hudson, Sonics President and Boss went on the record as exclaiming This capital structure provides us ideal financial suppleness at a competitive cost. It also suggests that the financial sector remains bullish on the way ahead for the eaterie industry.
So whether or not you werent already pondering refinancing a commercial cafe building, maybe you're now.
However , most restaurant operators dont own or franchise more than 3500 locations countrywide. Or even have the luxury of a 50+ year-old name with all of its associated goodwill. Whom are you going to turn to refinance a restaurant building?
If you own the property, rather than leasing it, the Small company Administration ( SBA ) can undoubtedly assist you, regardless of whether you or the business is affected with a somewhat bruised credit rating ( 680 or less ). Its called the SBA 504 Program.
The SBA 504 is not a direct administration loan program, but instead an SBA guarantee on funds got thru a bank, credit union, or other non-public lending institution for refinancing a commercial restaurant building. Provided that youve been in business for a minimum of 2 years, that the debt being refinanced is less than two years old, and that youve been current on the payments for a minimum of twelve uninterrupted months, the SBA 504 Program can let you borrow up to ninety % of the loan-to-value ( LTV ) of your building at extremely propitious, fixed ( not variable ) rates, even though your FICO is below 680.
Rather than trying to handle the lenders yourself, which can often be a frustrating, time-consuming tribulation, let the execs at Venture Funding Group do all of the legwork for you.
Venture Funding Group is a pro in working with the Small business Administration to help restaurateurs secure the funding that they have to refinance a cafe property, thanks to their exclusive FAST TRACK Program.
To learn more, click on www.thesbaloan.com now for your absolutely free consultation and guidance. Or call us at 1-800-578-4884, if you prefer.
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Rocco's Italian Restaurant
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