25-year-old entrepreneur with rRs.r70 lakh debt asks if he should borrow more to start a new cafe
India, June 9 -- A 25-year-old entrepreneur from India has reached out to the online community for urgent financial guidance after his restaurant venture collapsed, leaving him with a staggering Rs.70 lakh debt. What began as a modest cloud kitchen grew rapidly, but aggressive expansion funded by high-interest private lenders quickly snowballed out of control. Now facing a damaged credit score and a steep monthly mortgage EMI that vastly exceeds his family's income, the man is torn between getting a job to pay off the liabilities or borrowing even more money to restart a smaller food business.
The man shared that he had been working at a BPO but left in 2023 to start a small cloud kitchen with " Rs.2 lakh borrowed from extended family". ...
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