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Lorri Mealey

Reader Asks How to Get Financing for a New Restaurant

By November 24, 2012

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George W. writes in and asks:

I want to open a new restaurant, but I'm not sure I'll qualify for a bank loan. My credit is so-so, and I have some debt, mostly student loans. I've heard it's really hard to get financing for a new restaurant, because they close so frequently. My brother-in-law offered to help me out by investing as a silent partner, but I am little wary of going into business with family. Any suggestions?

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