By John Buell and Gregory Thomas

The last 12 months have been a bumpy ride for financing restaurants. A positive credit environment one year ago crashed in June. Credit markets have all but shut down to both independent and chain operators, and it isn’t likely that any relief will be seen during 2001. At the same time, investor money is streaming back into the markets looking for something safer than dot-coms, and Pres. Clinton eased the rules for SBA loans. What a wild year! An old adage is worth repeating now more than ever: take the money and run. Financing your new restaurant, or expanding your multi-unit group this year and next will require great vision, patience and above all, luck in finding the money. But grab it when you find it.

MRA Members – see the January/February 2001 issue for the whole story, or e-mail the mra for a downloadable version.

Non-members – find out how to receive Michigan Restaurateur and other publications free from the MRA.