Thursday, January 29, 2009

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!

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