Success Story

The Rib House owner Kurt Jacks quickly learned that operating a family-run restaurant costs more money and time than he expected. 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, 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 or any loss or damage suffered by any person directly or indirectly through relying on this information.

Recent Posts

Marketing
How to make your small business effective online
These days, most of your potential customers will whip out their smartphones and suss out your business before walking through the front door and spending their dollars. But what happens if they can’t find anything about you online? They might give you a miss or, worse still, take their business to your competitor. Yet, as […]
Finance
Infographic: The 2019-20 end of financial year dates you need to know
For something that happens every year, the end of financial year (EOFY) period has a rare power to catch small business owners by surprise. But getting ahead of the key tax year dates that NZ small business owners need to know will do more than just reduce your stress – it can potentially save you […]
Marketing
How tourism operators can attract international visitors
It wasn’t all too long ago that a simple one-paragraph mention in the Lonely Planet guidebook could be all it took to attract a healthy stream of international visitors to your tourism business. Now, things are a little more complicated. These days you need to interact on Facebook, market on Instagram, regularly review your Google […]