Moratorium

After much prayer and consideration, we decided not to move forward with the bed and breakfast at this time. Although we have a financially reasonable business plan, along with some really fantastic ideas, at this point in time it seems we do not have the resources needed to complete our dream.

The house is still up on the market, but for now we just hope that since we are not able to purchase it that it falls into the hands of someone who will take very good care of it.

In the meantime, we will go on with our lives and continue to work towards one day owning a bed and breakfast.

Thanks to everyone that has been stopping by and sending us your words of encouragement!

In a Financial Rut

We heard back from the bank this week, and it didn't look like good news for us. It wasn't our credit, but only our low incomes that is keeping us from obtaining the loan we need. They said if we sold our current home it would definitely help, but that we would still be looking at only getting a mortgage on the new property, then still having to find the money to start up the business pretty much on our own. We could try for a Patriot Express loan since Chris was in the military for five years, but even then we might not qualify based on our current income.

So, we will see what happens. We know we don't make a lot of money, but we live within our means and work hard every day and know that we could make this business a success if given the opportunity. We may go forward with our fundraising projects prior to purchasing the property, if it means having money for a down payment to better qualify for it.

Thanks for sticking with us through this process, and we hope to have better news soon!

Loan Day is fast approaching!

We are finally able to apply for a loan! It took a lot of hard work to get the business plan done, but it is now completed (and pretty darn great if you ask me!). The house is still up on the market, and the wonderful agent we have been working with has kept us updated on the status just in case. I know she really cares about what we are doing, and even plans to book her daughter's wedding with us in May if we can obtain the property! It is such a wonderful opportunity and we hope that everything goes well for us as we apply for the loan.

While I had considered posting some of the business plan, I think that it might not be as interesting to all of you. So instead I'll just give you a few highlights:
- We will have two large suites, with king size beds and private baths
- The common area includes kitchen access 24/7, a sunporch, a deck with beautiful views of Fontenelle Forest, and a living room with a cozy fireplace
- We will be comparably priced with other lodging options in the area but will include a feature that no one else has - an eco-friendly environment!

Doesn't it just sound great? :) As soon as we get approval for the loan(s), we will place a bid on the home and start working on all the paperwork needed to get this rolling. We will also be purchasing our own web domain and transferring all of this blog material to a full website! Very exciting times for us.

Thanks for keeping updated, and check back again soon to see our progress!