Thursday, May 14, 2009

Oh Happy Day -- Made it past step one!

The REAP board met this morning and discussed my loan application. They unanimously agreed that it warranted going to the next step. This is not ultimate approval, just not an instant turndown.

Now I have my work cut out for me as I have to draw up a business plan, which requires coming up with numbers like expected income/expenses (which are unknown as this is a new, not existing business).

I also have to prove that I can develop a webpage for online sales and show what organizations I will participate in to help my business grow.

I could still lose out on this business by not doing a good enough job on this part of the application process. Gulp!

However, it was a major hurdle to get over today and I made it! :)

Now, time to get to work on the hard part!

Oh yes, I took some photos of the caboose to send to the loan board. I haven't decided for sure what color to paint it, but I will cross that bridge if this loan actually goes through!

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