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                                                                   EXHIBIT 10.27

July 1, 1999

Mr. William F. Rolinski
President/CEO
Big Buck Brewery & Steakhouse, Inc.
P.O. Box 1430
550 South Wisconsin Street
Gaylord, MI 49734-5430

      Re:   NON-EXCLUSIVE FINANCING FOR BIG BUCK BREWERY & STEAKHOUSE, INC.

Dear Mr. Rolinski:

      This letter of intent sets forth the preliminary terms and conditions
under which Private Equity ("Private Equity") would be willing to engage in the
debt financing and/or syndication of certain properties owned by Big Buck
Brewery & Steakhouse, Inc. and/or its affiliates ("Big Buck") and is not
intended to be a binding agreement except as described in paragraph 11 below.
Exhibit A, attached hereto and by this reference made a part hereof, describes
the Big Buck properties subject to this agreement.

1.    SERVICES PROVIDED. Private Equity shall provide the following investment
      banking services, as appropriate and necessary to complete the
      transaction:

      A.    We will provide advice, recommendations and introductions regarding
            financing options, market conditions and program structure. We will
            assist in arranging up to $10,500,000 in term debt financing.

      B.    We will assemble with your cooperation and package the appropriate
            documentation for use in funding the proposed financing package
            detailing the proposed terms and conditions.

2.    NON-EXCLUSIVITY. Big Buck and its affiliates agree to inform Private
      Equity of any other firms or organizations that may be involved in raising
      debt financing and supply a list of contacts so there will be no
      duplication of work. This is a non-exclusive agreement between parties and
      is recognized as such.

3.    EXPENSES. Big Buck shall bear all reasonable costs and expenses approved
      by Big Buck incident to the issuance of this debt financing, including but
      not limited to: (as applicable) all costs and outside counsel fees
      including the fees and expenses of our outside consultants; appraisals;
      engineering and environmental reports; fees and expenses of counsel for
      Private Equity.

4.    COMPENSATION. Private Equity will collect a fee of five percent (5%) of
      the total amount of the term funds. It is stipulated and agreed that such
      compensation shall be deemed fully "earned" and payable immediately upon
      your closing of debt funds.

5.    DISCLOSURE/DUE DILIGENCE. Big Buck agrees to provide Private Equity and/or
      its consultants with all information, including up-to-date financial data
      on its operations. All such information shall be furnished in a timely
      manner and shall be complete and accurate to the best of Big Buck's
      knowledge. Big Buck authorizes Private Equity, its affiliates and/or
      assigns to commence due diligence investigations, which in Private
      Equity's

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Mr. William F. Rolinski
July 1, 1999
Page 2


      judgement would be required to complete the transaction. Big Buck will
      allow prospective investors or participants the opportunity to ask
      questions concerning the operations and financial statements as necessary.

6.    CONFIDENTIALITY. Private Equity agrees to keep confidential all
      information concerning Big Buck's business including but not limited to
      its methods of operation, forms, correspondence and writings concerning
      Big Buck's business disclosed in connection with this transaction
      provided, however, that Private Equity may provide prospective
      underwriters, selling group participants and/or investors information
      which in Private Equity's judgment may be reasonably required by those
      parties in making an informed investment decision. Big Buck agrees to keep
      confidential any information concerning Private Equity's business
      including Private Equity's industry contacts which it may introduce to Big
      Buck without exception whatsoever.

7.    TERM/NONCIRCUMVENTION. This agreement shall remain in full force and
      effect for a period of one (1) year following the date of this letter,
      unless otherwise terminated by either party as provided in paragraph 11
      herein. Except as noted herein, during the term of this agreement, Big
      Buck will not directly or indirectly attempt to complete similar
      transactions with prospective investors introduced to Big Buck by Private
      Equity. If such transaction is undertaken, Big Buck will pay Private
      Equity, its affiliates or assigns, compensation as provided in paragraph 4
      above, irrespective of Private Equity's involvement in such undertaking.

8.    INDEMNIFICATION. Big Buck agrees to indemnify and hold harmless Private
      Equity, its officers, directors, employees and affiliates against any
      loss, claims, damages, and other liabilities, costs and expenses as may be
      incurred (including without limitation, reasonable legal expenses) in
      connection with any negligent or intentional or willful misrepresentation
      by Big Buck. However, Big Buck will not be liable under this paragraph to
      the extent that any loss, claim, damage or liability are finally
      determined by a court of competent jurisdiction to have been the result of
      gross negligence, willful misconduct, or intentional misrepresentation on
      the part of Private Equity, its employees or affiliates; in which case
      Private Equity shall similarly indemnify Big Buck.

9.    TERMINATION/SURVIVAL. Either Big Buck or Private Equity may elect to
      terminate this agreement as follows for any reason with sixty (60) days'
      advance notice each to the other: (A) Should Big Buck unilaterally elect
      to terminate the agreement. Big Buck agrees to pay its own expenses and
      all other fees and expenses incurred pursuant to this letter, in
      particular paragraph 3 above. (B) Should Private Equity unilaterally
      terminate this agreement, it shall release Big Buck from its
      noncircumvention obligations in paragraph 7 above, provided it receives
      payment-in-full for all unreimbursed expenses it may have incurred to the
      effective date of the termination, pursuant with paragraph 3 above. Except
      as otherwise provided herein, requirements of confidentiality,
      indemnification, and noncircumvention in paragraphs 6, 7, and 8 above,
      shall survive termination of this agreement.

10.   INTEGRATION. This letter contains all understandings and agreements of the
      parties and supercedes any and all prior communication between the
      parties, oral and written, and may be amended only by writing and signed
      by both parties. While Private Equity has described in general the
      features and costs of the proposed financing, the precise terms and
      conditions and costs are subject to change based on market conditions and
      the requirements of other parties as may be necessary to complete the
      offering.

11.   BINDING AGREEMENT, NOT A COMMITMENT. This letter shall be a binding
      agreement with respect to paragraphs 2, 3, 4, 6, 7 and 8 but shall not
      obligate Private Equity to take any action or execute any agreement until
      it has reviewed all the financial and other information and, in its sole
      discretion, deems

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Mr. William F. Rolinski
July 1, 1999
Page 3


      them to be acceptable and appropriate to undertake an offering. Nothing in
      this agreement shall be construed as a commitment to underwrite or
      distribute securities. Such an undertaking can only be made after
      completion of the due diligence process, preparation of appropriate
      documentation and successful establishment of a selling group.

12.   NOTICE. Any notice to be given pursuant to this agreement may be effected
      in writing by personal delivery, or by Certified U.S. Mail, addressed to
      the other party at the address shown below. Service by mail shall be
      deemed effective at the expiration of the fifth business day after
      mailing. Each party may designate a substitute address by giving written
      notice to the other party. Mailed notices shall be addressed as follows:

      PRIVATE EQUITY        20550 Vernier Road, Suite 100
                            Harper Woods, Michigan 48225
                            ATTN: E. Michael Coleman, Director, Capital Markets

      BIG BUCK              P.O. Box 1430
                            550 South Wisconsin Street
                            Gaylord, Michigan 49734-5430
                            ATTN: William F. Rolinski, President/CEO

13.   MISCELLANEOUS. In the event of a dispute under this agreement, the parties
      agree to submit to binding arbitration under the rules established by the
      American Arbitration Association. The prevailing party will be entitled to
      receive reimbursement for all legal expenses and costs of enforcing this
      agreement. This agreement shall be governed by the laws of the state of
      Michigan.

14.   EXECUTION IN COUNTERPARTS. This letter may be executed in any number of
      counterparts, each of which shall be deemed an original, but such
      counterparts together constitute only one and the same instrument. The
      parties also agree that a duly executed counterpart transmitted by
      facsimile shall have the same force and effect as the signed original.

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Mr. William F. Rolinski
July 1, 1999
Page 4


      This letter is solely for the benefit of the parties and may not be relied
upon by any other person or entity. If this letter correctly sets forth your
understanding of our agreement, please indicate your acceptance by signing and
returning to us the enclosed copy of this letter before July 2, 1999.

                                                   Very truly yours,

                                                   PRIVATE EQUITY LLC


                                                   /s/ E. Michael Coleman
                                                   -----------------------------
                                                   E. Michael Coleman
                                                   Director, Capital Markets

AGREEMENT ACCEPTED AND
AUTHORIZATION GIVEN TO PROCEED BY:


/s/ William F. Rolinski                              July 2, 1999
------------------------------------               -----------------------------
William F. Rolinski, President/CEO                       Date
Big Buck Brewery & Steakhouse, Inc.

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                                    EXHIBIT A

DEBT FINANCING

      Term:              To Be Determined
      Amount:            To Be Determined
      Interest Rate:     To Be Determined


                                       A-1