We are seeking $35,000 in an operating loan and $30,000 in a term loan. The owner will provide $15,000 in equity. After almost 15 years in the restaurant business, Mr. Roberts is looking to open a conveniently located bistro and wine bar that will offer its lucky customers first-rate food and wines along with a comfortable yet elegant atmosphere in which to dine, meet friends, or have a drink after work. Mr. Roberts has found an excellent spot strategically located in downtown Springfield. The restaurant will be within walking distance of two courthouses, several large office buildings, as well as many downtown businesses. Two upscale hotels are located nearby: one with 198 rooms is located one-half block away while the Best Western Hotel is only a block and a half away. Mr. Roberts plans to take over a location that was previously a restaurant. The owner of the building will sell the equipment and furnishings at a discount. The previous business closed due to a change of priorities of the previous owner. The restaurant has been closed for three months. The restaurant is projected to generate $100,000 in profits before taxes in the first year, after the owner's draw.
