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.
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