Commercial Real Estate Financing
Unexpected Building Costs Strike
The owner had his own investment into the restaurant to get things underway. His partners also chipped in to help finance the new endeavor. However, when all was said and done, the costs of building the new property had gone over budget. It wasn’t a substantial amount but it was something that needed to be handled sooner rather than later. It took some time to get the new restaurant going and in the swing of things, but the discrepancy needed to be considered and dealt with to get things off on the right foot. This led to a need to explore all of the options out there.
The Cost to Get Things Underway
While there had been $1 million set aside to get the restaurant constructed and running, the owner now needed another $100,000 to take care of the building costs. It was clear that some kind of financing was needed to handle the situation. This would ensure the restaurant could focus on operations. However, choosing the right financing can be stressful in some situations.