Application for Secured Loan for a Japanese Restaurant

I humbly forward my request for a loan of $50,000, which I will use to purchase ABC, a Japanese restaurant. I will secure the loan using my equity of $200,000. I will be comfortable to pay the loan in 5 years’ time covering both interest and principle. Currently I am earning $ 40,000 and have lately taken various services from your bank.

I will be able to run this restaurant successfully because I am a Japanese ethnic and a holder of Business Degree (Accounting and Finance). I will use my business related training to advertise the restaurant. I have recently successfully worked and improved my experience at one of the restaurants that my friend owns.

The restaurant I am willing to purchase and poem has a market value of $40,000 and annual sales of $450,000 with maximum sitting capacity of 35 patrons. The restaurant is estimated to earn a net profit of $42,408. The restaurant has been in business for 15 years thus creating a goodwill, $10,000, that is the difference between its price of $50,000 and the market value of $40,000.

Among the dishes we are going to offer are the Japanese dishes that are well known in the area along with the lightest submarine low fat sandwiches. Japanese dishes are nutritionally valued for a balanced diet, and they are excellent value for the money as well. A Japanese meal consisting of chips, cookies, sandwich/salad and a drink contains virtually less than half the calories as those in fast foods outlets and costs less, too.

When advertising the service it is very important that I cover the entire area and organize an effective service. If that is done properly then one can advertise and operate all over the designated area. I am going to employ professionals to make sure that the work flow is assured and the entire business is stagnated so the restaurant could become a popular place one day. One also has to consider that such service will also be seasonal, season orientated, so to say. Holydays and days off will be the best periods during which we’ll have to hire extra staff. My ability to know and anticipate the market is crucial in such customized services; the restaurant should be able to adapt very quickly to the new demands of the market, while at the same time quality must be maintained. The suppliers are of critical value since one cannot afford to deal with low quality products.

Operating the restaurant is as easy as whipping up a 90-second sandwich, your money will help me acquire the best possible restaurant at the best possible prices to get the perfect return on investment. We have taken into account possible consumer spending patterns with respect to the district/area you wish to open restaurant. We will provide the training for 4 members of your staff and provide a bi-annual refresher course for 2 members of your team as well.

Please do respond by the end of this month, lest someone else launches the restaurant in February!

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