Our budget for the restaurant is $250,000. Of that, the three investors including myself have raised $125,000, meaning we need another $125,000 to launch the restaurant.
Our existing investment is being used to pay lease costs on the space while it’s built out and construction expenses to renovate the interior. It’s also going toward city and state permit and licensing costs associated with restaurant and bar operations. As stated previously, we anticipate an opening date of six months from now.
The money we are requesting from [Lender.Company] will go toward the following needs:
• Kitchen equipment, $75,000: We believe quality food comes from good products. We need to purchase general cooking utensils, tableware and silverware, a new industrial-size oven with a 10-top burner, and refrigeration equipment.
• Bar equipment, $25,000: Our bar will use only the finest ingredients and spirits available, in addition to a small and well-curated beer and wine list. We have established relationships with beverage industry distributors for these products at competitive rates.
• Food, $25,000: No restaurant is complete without its menu. Through our years of experience and vast connections, we have established relationships with food purveyors around the state of California and elsewhere in the U.S. to supply the restaurant. These products will be the last items ordered before opening.