can i get a commercial loan that covers the cost of equipment to open a restaurant?

Yes, but you would need an SBA loan.. The qualifications are somewhat strict, so you might want to search the web and look for advice on how to package up your proposal for consideration.. SBA loan applicants should have a good business plan that is well written and well thought out.. If you're going into a business that you have never been in before, the more information you can share with the lender the better consideration you will get... Restaurants in general have a 2% success rate, and the lenders know this, and it will be part of their consideration when granting a loan.. so the more info you provide, it will let the lender know how well thought out, planned and prepared you are.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

You may need to bring in a partner, in order to start a new business. You may then qualify for a small business loan, with as little as 10% down. If you can show how you will hire several people, you may qualify for special grants and tax advantages. Please contact the Small Business Administration office in Austin. They have lots of information to share, and may have a retired restaurant owner who can advise you at no cost. Good luck.

Dave's advice about the SBA in Austin is the best way to go. They can also point you to the lenders who make the process fairly easy.

Yes you can. You need someone to qualify you (term sheet) to make sure everything is ok before you start spending money. Call us or visit www.thorpecc.com