Question

Milan wants to open a restaurant in his neighborhood, where he'll serve his family's favorite Croatian dishes. He's found a location to rent and needs to purchase the proper equipment, but he has very little money of his own. Milan makes an appointment to talk to someone at the local branch of his bank about getting a loan. What type of loan will Milan most likely receive for his restaurant?

1) Auto
2) Student
3) Mortgage
4) Commercial

Answer 1

Milan will most likely receive a Commercial loan for his restaurant. Hence, the correct answer is option 4.

Step-by-step explanation:

Milan will most likely receive a Commercial loan for his restaurant.

A commercial loan is specifically designed to provide financing for businesses, such as restaurants, to cover expenses like equipment purchases, renovations, or working capital.

Unlike auto loans, which are used to purchase vehicles, or student loans, which are used to pay for education expenses, a commercial loan is tailored for businesses and their specific needs.