February 25, 2008 9:38 AM EST
Hello, I am new here, although the question I pose is not. My restaurant concept will fill a niche that is currently not being addressed here in Tulsa. I have a business plan complete with financials, extensive food service experience, and a passion to bring my concept to fruition.
Now for the reality check - I have poor credit, no collateral or assets, as they are all tied to my husband.
I have found an existing restaurant for sale that is only two years old, has $300,000 worth of FFE and is sitting on prime real estate. I have a real estate license, and if someone would buy it and lease it back to me, I would make $25,000 in commission to put into the business. I am also looking for $50,000 to be loaned to me, which will be paid back in full, with 7.5% interest in 18 months.
If this sounds interesting to anyone, I will be very appreciative of the help. Any comments and advise will also be welcome. Thank you!