Month: January 2020

Appetite for Debt - Why Loans is Good for You!
Financing

Appetite for Debt – Why Loans is Good for You!

- by Juana Baumgartner
Appetite for Debt - Why Loans is Good for You!

Starting and growing a restaurant can be a money intensive proposition. Buying or renting space, kitchen equipment, and furniture is only the beginning. Add to this the utility, salary and inventory, and it’s no surprise that so many restaurant owners struggle to make ends meet.

However, there are many sources of capital available to business owners who understand, and perhaps nothing is so important to the health of a restaurant that grows rather than debt. Loans, rent, credit cards, mortgages, and personal records of all kinds can make a new restaurant take off, or help a thriving restaurant grow.

No Money Down

Jimmy Kavopovis, 42, is the proud owner of Steele Creek Caf ?, a fast food-friendly place in an office park environment. This is the third restaurant business. The restaurant industry is currently very challenging, Kavopovis said, and finding loans for growth is part of the challenge. “In the …

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Always Use Protection! In Business Finance
Household Finance

Always Use Protection! In Business Finance

- by Juana Baumgartner
Always Use Protection! In Business Finance

“We might be able to arrange arrangements for your repayment. Can you bring at least one payment by Friday?” In a two-sentence discussion with the borrower, the employee serving your loan may have just planted the borrower’s litigation seed.

“They said they would work with me.” If you institutionalize the foreclosure action later, the borrower can state that they are “in negotiations” with your company to prepare a payment plan. Such claims can lead to other arguments in muddy areas that seize collateral.

From the borrower’s point of view, when does the loan officer’s actions cross the line between normal daily communication and the actual agreement to modify the loan agreement or delay the collection action? The answer to this question can be very subjective.

What is the solution?

Enter – Pre-Exercise Agreement.

With the Pre-Training Agreement, the borrower and lender agree that there is no training agreement, there is …

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