What might christine do to convience bank to lend her money

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Reference no: EM132223208

Chrstine hernandez is in the process of launching a resturant. Christine has never owned her own resturant before but has worked for two of the best resturants in town. starting out as a hostess. Christine developed a special knack for the business and quickly worked her way up to the job of manager. Her 18 years of experience have given her a solid foundation for running her own resturant.

Christine has worked with a counselor at a nearby small business development center and a counselor from the service corps of retired executives to prepare a business paln. She asked two other counsultants and an accountant to review the planand incorporated thir suggestions into the finished product. When Christine took her plan to the bank however the bank turned her loan request of $165,000. citting the venture as too risky, given the failure rate of resturants the bank acknowledged her experience as a major asset but said it could not expose itsself to such risk's in its portfolio. Christine heard the same story from 3 other banks.

Christine is confident in her ability to manage her own resturant successfully and she is determined to get the financing she needs to launch it

What might christine do to convience a bank to lend her the money she needs to launch her company? what other sources of capital would you suggest christine explore?

Reference no: EM132223208

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