The past few weeks have been very trying, and after hours of wringing my hands and pulling hair, alas the bank is just not going to give me a loan. I must say, through this process of starting up a small business, I never in my wildest dreams thought that securing a minimal amount of financing from the bank would be such an ulcerating experience. Certainly all banks are cutting way back on their small business lending these days, and of those they are still granting, startup's are at the bottom of the totem pole. But I still thought that upon bringing in more than 75% of my total startup expenses, having excellent credit and a kickass business plan, would put me in good stead to acquire the piddly amount left over to cover my proposed budget. In my case, it all came down to collateral, namely not owning property.
However, this time is seriously nigh for me to make this happen no matter what. Where there's a will there's a way, right? My amazing and supportive husband has often brought me out of financial woe by encouraging me to summon my inner Pitbull, and so with the tenacity of a dog that doesn't take no for an answer, I'm gearing up for plan B.
I always knew it was a good thing to create my budget and financial forecasts for the most expensive space I could find, and leave more than enough cash on hand for padding. So with the generous help of my investors and new members of The Calf & Kid, I am moving forward full steam ahead. Luckily there are multiple commercial spaces in Seattle that are small, modest, and still centrally located in Capitol Hill. I'll be looking at one of them tomorrow, may the cheese gods be with me.