Hello Everyone, I m a new user to this site, I have been trying to research gov grant programs ( which I hear about yet with every search I get nothing but junk sites).
I have 20 years experience in fine dining and running clubs, I'm also a real-estate agent . I have found a true Turnkey restaurant that I would like to lease ( the building) and reopen the doors. So i guess my question is :
Is there a government program that would grant a start loan for a restaurant if ( I ) the operator has extensive experience in the business but my credit has taken a hit in the last year ( basically with poor credit ). Am I dreaming? Or does such a program exist? I need around $85000- $150000 .
Hi Lounge2love -
Unfortunately, the government does not provide grants to individuals who wish to start a for-profit small business. For more information on the reality behind government grants check out The Truth About Government Grants.
Your best chance is to get a government guaranteed loan. Although the Recovery Act does not specifically provide funds to start up for-profit businesses, SBA's Microloan Program provides small loans ($35,000 or less) to business owners for a wide variety of reasons. I know this is less than you're looking for but it may be a good start! For more information potential financing opportunities, check out I Need Money - Where do I get it?.
Good luck with your search and we hope you'll continue to share your progress and experience with the community!
Message Edited by JamieD on 12-31-2009 09:24 AM
JamieD | Former Moderator | 12/31/2009 - 9:23 am
NicoleD | Former Moderator | 12/29/2009 - 1:39 pm
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