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tlc
Guest
I would like to open an amusement center. I've completed the business plan and I'm wondering if I have any chance in gettting such a large loan. I need around 700,000 to complete it. Around 400,000 will be in the purchase of the land. 300,000 to complete the amusement center. The land is expensive but for this to be profitable to it's full potential, it has to be located on the main road.
I have a small Diner that I opened with a loan from a family memeber. There's no way a family member even has an extra 700k to loan me. So I will have to take this to the bank.
What kind of down payment will I need? What are the usual terms of a loan this size for a business? How much of my own money will the bank require me to put towards this project? Is the land purchase considered part of the business loan?
I have a small Diner that I opened with a loan from a family memeber. There's no way a family member even has an extra 700k to loan me. So I will have to take this to the bank.
What kind of down payment will I need? What are the usual terms of a loan this size for a business? How much of my own money will the bank require me to put towards this project? Is the land purchase considered part of the business loan?