
After having trouble securing assistance through traditional lenders, Kurt found a Prospa Small Business Loan to dish up the vital support he and his family needed to grow the business.
Southern style ribs in Auckland
Kurt Jacks wanted to bring authentic Southern style ribs to the people of New Zealand. So, he and his family opened The Rib House, a family-friendly eatery in the southeast Auckland suburb of Pakuranga.
And while Kurt might be the owner of The Rib House, he says his wife Althea is the boss. They work alongside their two sons and daughter to cook up barbecue food for customers six days a week.
The challenges of running a restaurant
No matter how carefully crafted the budget, finding the resources to fund the equipment, ingredients, and other overheads and improvements associated with opening a new restaurant can be tough.
“We found that when you start a small business, it sucks a lot of money, more than we anticipated,” he says. “So, we needed a bit of help.”
In addition to a lack of capital, another thing the Jacks family didn’t have was time to waste. Restauranteurs put in plenty of hard yards outside of opening hours, cleaning and prepping for the next day’s rush. That leaves precious few hours for administration.
“Time is the most challenging thing,” he says about running a new restaurant. “We seem to run out of time.”
Kurt needed a small business loan, but the challenges involved with applying for a loan with traditional lenders meant his menu of options was dwindling.
But that all changed when Kurt saw an online ad for Prospa.
Easing the stress with a small business loan
Kurt decided to give Prospa a try. He quickly found it was the missing ingredient in his recipe for success.
“We went online and put our application through, and we got a call the same day,” Kurt says. “Tristan was his name, and he was awesome.”
Tristan, a Prospa Senior Loan Consultant, explained the options available to Kurt and his family. The Rib House owner realised a Prospa Small Business Loan was precisely what he needed to take his restaurant to the next level, with a simplified and streamlined application process.
“The feature I like the most was the ease with which the whole transaction went through. It was just smooth; it was just easy.”
What’s next for The Rib House?
The funds from Prospa were immediately put to good use, doing necessary upgrades and renovations in the kitchen.
“I would definitely recommend Prospa to my friends and family, and I already have.”
Whether it’s growing your business, funding an opportunity or just covering cash flow, find out how Prospa can help. Talk to one of our business lending specialists on 0800 005 797 to discuss your options, or find out more.
The information on this website is provided for general information only and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from financial, legal and taxation advisors. Although every effort has been made to verify the accuracy of the information as at the date of publication, Prospa, its officers, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy, or omission from the information for any reason, including due to the passage of time, or any loss or damage suffered by any person directly or indirectly through relying on this information.
Keep reading
How this furniture repair business grew 40% year-on-year
03 December 2020 | 4 min read
Quick access to finance is helping small business owner John Lennox grow his furniture repair empire and weather the ups and downs of COVID-19.
View more6 gems of advice from leading New Zealand female entrepreneurs
03 March 2020 | 6 min read
In honour of International Women's Day, six leading NZ female entrepreneurs share the advice that has helped power their self-belief and success.
View moreCustomer success story: Animal Natural Health Centre
18 December 2019 | 3 min read
Discover how the small business owner of Animal Natural Health Centre used a Prospa Small Business Loan to grow her business without compromising on her vision.
View moreSubscribe to the Prospa Blog
Be inspired! Sign up to Prospa’s newsletter to receive tips, tools and small business success stories straight to your inbox.
Thank you for subscribing
We need to double check we’re sending your Prospa newsletter to the right place. Check your inbox – we’ve sent you an email! Click on the confirmation link and get ready to be inspired.