Question
Is this $750000 SBA loan possible?
I would like to open 3 pizza stores in California. I have a partner that is willing to co-sign/invest in the project. The total amount needed to open all 3 is $750000. Both of us have credit scores of 715+ and I have years of chain-specific supervisory experience and industry experience. I have $40000 to devote to the project. He has $300000 in the bank along with a $500000 home that he's willing to put up as collateral. Would I/we be able to qualify for an SBA loan of $710000 with the figures above? Is there any way this is possible?
6 months ago - 3 answers
Best Answer
Chosen by Asker
yes, I am quite sure they wil give you the money., however, this just sounds like a really crappy and risky idea to me. edit- buy a couple of real estate rentals intstead would be a WAY better idea to me. with restraunts you have a ton of headaches.
6 months ago
Asker's Rating: 
Other Answers
The SBA generally lends to established businesses, even though you guys seem like a safe investment. You may also consider private investors and banks.
by Grasshopper- 6 months ago
it is but pizza you would be going up against big chains i would not recomend it but i manage a taco bell it makes 5000+daily
by Brittany- 6 months ago