requirements for a bank loan Positive credit
Posted: Mon Jan 06, 2025 9:03 am
Not only because it reduces your dependence on outside capital, but also because it strengthens your negotiating position with banks and other lenders. A solid financial cushion also gives you the freedom to be creative and develop your concept without the pressure of immediate profitability. Fast food, fast casual or would you prefer fine dining? We will introduce you to different gastronomy concepts and their advantages and disadvantages. 2. Debt capital: The lever for your dream Of course, equity is often not enough to cover all costs. Opening a restaurant often involves borrowed capital, usually in the form spain phone data of a bank loan . Banks are traditionally cautious when it comes to financing restaurant businesses, so it is important that you come up with a solid business plan and a clear idea of your concept. You are usually expected to contribute 20-30% of the capital required as equity . This signals to investors that you are willing to take a risk and believe in your success. For an experienced restaurateur with a track record and positive references, the required equity capital may be somewhat lower than for a newcomer to the industry.
rating and creditworthiness : Your financial history will be examined. Debts, current loans and your payment behavior in the past all play a role. Well-developed business plan : This is the heart of your loan application. A convincing business plan shows not only that you have a clear vision, but also that you have thoroughly thought through the financial aspects of your venture. Collateral : In addition to your own capital, professional experience in the catering industry, possible other business partners or other assets count as collateral that you can offer the bank. four-eyes principle Don't forget to prepare your concept and plan in such a way that they will also convince the critics within the bank of your idea. This is because the four-eyes principle generally applies here. This means that when you present your business idea and your business plan, it will not only be looked at by your direct contact at the bank, but also by another responsible department . This principle ensures that the decision on your loan application is made objectively and impartially. Your bank advisor will forward your request and the specialist department will carefully check all submitted documents and plans.
To keep the bank happy, you have to work profitably. To avoid being in the red at the end of the month, it is essential to calculate your prices correctly . 3. Leasing: Flexibility for your equipment
rating and creditworthiness : Your financial history will be examined. Debts, current loans and your payment behavior in the past all play a role. Well-developed business plan : This is the heart of your loan application. A convincing business plan shows not only that you have a clear vision, but also that you have thoroughly thought through the financial aspects of your venture. Collateral : In addition to your own capital, professional experience in the catering industry, possible other business partners or other assets count as collateral that you can offer the bank. four-eyes principle Don't forget to prepare your concept and plan in such a way that they will also convince the critics within the bank of your idea. This is because the four-eyes principle generally applies here. This means that when you present your business idea and your business plan, it will not only be looked at by your direct contact at the bank, but also by another responsible department . This principle ensures that the decision on your loan application is made objectively and impartially. Your bank advisor will forward your request and the specialist department will carefully check all submitted documents and plans.
To keep the bank happy, you have to work profitably. To avoid being in the red at the end of the month, it is essential to calculate your prices correctly . 3. Leasing: Flexibility for your equipment