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Italian Restaurant Business Plan - Company Summary Page 2

2.5  Source of Funds

Out of the estimated $452,000 required in start up funds, the owners / partners of A Touch of Tuscany will be providing almost 60% of the capital through their own individual contributions in the amount of $133,000 each.  The remainder roughly 40% of the start up funding will come in the form of a business term loan from a conventional lender.  We have been preapproved with Chase, Wachovia and HSBC and feel that even without an SBA (Small Business Administration) guarantee, we have an excellent chance of being approved for a loan.  The next table itemizes the contribution and loan breakdown:

2.6  Loan Summary

After consultation with our bankers we have found out that the going rate for a conventional term loan of seven years ranges from 6% to 8%.  In our plan we have decided to be conservative and have used the following metrics to arrive at the following estimated monthly and annual payments for this loan:

2.7  Company Locations & Facilities

A Taste of Tuscany will be located in the City of White Plains in the county of Westchester in New York State.  A rapidly growing suburb of New York, White Plains lies only thirty minutes north of New York City and is well regarded as one of the best cities to live in the country.  We have identified 3 locations in the City of White Plains which would be ideal for us.  All are in the heart of the downtown area of White Plains. Our facility will be approximately 6000 square feet with about 2000 square feet used for kitchen, bathrooms, storage facilities and a small office.  The main restaurant area will be divided into two rooms – a main room of about 4000 square feet which will include a bar and also a smaller room of about 2000 square feet to accommodate larger parties.

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