Description

Today Michael is joined by Alan Nickelsen, Executive VP and Commercial Banking Manager of Synovus Bank in Pensacola, FL.

Alan shares the challenges that restaurants face to receive loans for building out and purchasing equipment for spaces that they lease.  He shares which loans typically work for this type of restaurant owner, and what you can expect during the loan application process.

Episode Highlights:

• SBA loans are government-backed loans that can help restaurant owners who lease their restaurant spaces and need funding for equipment or building out their restaurant.
• Talk to your lender about an SBA 7a loan 
• Since SBA loans are government-related loans the process can take time, so patience is key to being successful in getting the funding you need.
• Finding a trusted lender can help you navigate the process and assist in helping you keep up with the necessary deadlines.

For more information on The Restaurant Realty in 10 or to get the show notes from today's show head over to TheRestaurantRealty.com

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