A bank loan agreement or proposal is a document used by prospective borrowers for a loan application. It should include the amount of money you want to borrow, your business profile, why you are borrowing, how you will repay, etc.
The introduction section is similar to a cover letter, so feel free to use a letter template as a reference when writing this section. Include a brief description of who you are, your background and qualifications, the type of startup you want to create, and where the loan money will be used. And so forth. You can include a photo of yourself and links to your social media pages to personalize your proposal.
Dear [Lender.FirstName] [Lender.LastName] ,
I have been in the restaurant industry for more than two decades, holding both front of house and back of house positions. I've worked in several major U.S. markets, including New York City and the San Francisco Bay Area, and overseas in South America and Europe.
I first started out in my grandfather's restaurant busing tables and doing dishes, and for the past 5 years I have been the manager of a highly acclaimed and popular destination restaurant in San Francisco. I also hold a Bachelor's Degree in Food Business Management from the Culinary Institute of America.
Since those early days in grandpa's kitchen, I have wanted to run my own restaurant. I believe my time is now, as I have the necessary experience, industry relationships and connections to make this happen. With help from those industry connections, I've created a sound business plan that borrows from established ventures but takes things a step further.
The following proposal will show [Lender.Company] why I’m seeking a loan to launch my restaurant and how the money will be used to complement my existing capital.
This bank loan proposal sample is for someone who works in the restaurant industry. You can change the wording of the letter for your industry.
Give the lender a sense of your business’s history and where it stands today, along with your target market and clientele, and an overview of your fit in the industry. This will show your lender that you are qualified to do business in your desired sector. Also include applicable photos — for example, photos of your logo or an interior shot of your business, your staff members, or renderings you’ve created.
At its core, a restaurant is a gathering place to relax, refuel, and socialize with others. The world is full of different cultures, but one thing we all share are meals together. I've taken this ethos to heart, and it is the driving force behind my concept for a restaurant.
In San Francisco, it's not enough to just serve good food; you are selling an experience as much as a meal. The city is one of the top markets for restaurants in the country. It was one of the first two regions, along with New York, in the U.S. reviewed by Europe's esteemed Michelin Guide, and it contains the most restaurants per capita of any U.S. city. In essence, San Francisco is a trend-setter in the food world.
My restaurant is currently in the buildout phase, with an anticipated opening date of six months from now. We have secured a lease for a space in a neighborhood that has steady foot traffic, is popular with tourists and locals alike, and does not have any similar restaurants already.
The space will be bright and open, with an exposed kitchen in the rear to show off food production and a 360 degree bar in the center with ample space to wait for a table and have a drink. We are aiming for seating of up to 50 at a time in order to give patrons a more personal experience.
We envision a younger clientele, with plenty of out-of-towners due to the neighborhood being popular with tourists. Our prices will be very competitive in order to attract customers, but I also believe in living wages and benefits for our employees. To this end, all tips generated by the service staff are pooled together and dispersed equally depending on each employee's function in the overall operation of the restaurant.
Tell your potential lender who has invested in your business and why they’ve chosen to do so. This will show your lender that you are qualified and well-connected in your industry.
In addition to myself, there are two more investors in my restaurant. We each bring something unique to the concept, all having spent our careers in the restaurant industry.
One investor is a veteran in beer, wine, and spirits who runs a bar consulting business in San Francisco. He has helped open some of the city's most popular and well-respected establishments. He has also won numerous industry awards. His focus is on using fresh ingredients to craft cocktails that pair well with food.
The other investor is a seasoned chef who has worked for some of the finest restaurants in the U.S. for two decades. He studied cooking in France, and held two apprenticeships in Spain. His food has been lauded as "cutting-edge California cuisine."
I bring to the team the front of house experience, handling the direct contact with customers and managing the service staff. I have over 10 years of direct restaurant management experience at high-volume locations in San Francisco and New York.
Include detailed biographies of all officials, managers, stockholders, and key employees, including, but just not limited to: professional experience, affiliations with other enterprises, training and experience (especially that corresponding to the industry), amount of time to be dedicated solely to the business, and stake in the company.
If you have outside experts that have agreed to be a part of your venture through any agreement, actual or intended, include their names with the names of your investors and lawyers.