Okay, so we've suffered a few setbacks as of late, but don't worry Playful Grounds will still be a reality!
As I mentioned in previous posts, we have been in a lease negotiation for a great space. Well, that is basically going on hold, if not being kibosh-ed all together. The problem, as always, is our financing. The landlord is unwilling to enter into a lease with us while our financing is still pending. So, when we actually get the dollars in our hot little hands, we can re-approach the landlord and if the space is still available, we can begin negotiations again.
The funding is on hold, basically, because everyone is on vacation. Our business plan and application was supposed to be submitted at the end of August - read now - but isn't going to be submitted until the end of September (see above about vacations), so we won't see a dime until at least the end of October.
So, our current plan of action is to try to get the loan from the Canadian Small Business Financing Program now. Originally we were going to wait until we had the other loan first because the CSBFP wants to see a 3 month operating budget plus 25% of overall start-up costs before they will even look at us. We were going to use the first loan money to cement the CSBFP money. So now we're going to redo the business plan financials (AGAIN) and put every penny we can into a single bank account and try to get the loan without the other money. Follow? Clear as mud? Ya, to me too.
Wish us luck!
As I mentioned in previous posts, we have been in a lease negotiation for a great space. Well, that is basically going on hold, if not being kibosh-ed all together. The problem, as always, is our financing. The landlord is unwilling to enter into a lease with us while our financing is still pending. So, when we actually get the dollars in our hot little hands, we can re-approach the landlord and if the space is still available, we can begin negotiations again.
The funding is on hold, basically, because everyone is on vacation. Our business plan and application was supposed to be submitted at the end of August - read now - but isn't going to be submitted until the end of September (see above about vacations), so we won't see a dime until at least the end of October.
So, our current plan of action is to try to get the loan from the Canadian Small Business Financing Program now. Originally we were going to wait until we had the other loan first because the CSBFP wants to see a 3 month operating budget plus 25% of overall start-up costs before they will even look at us. We were going to use the first loan money to cement the CSBFP money. So now we're going to redo the business plan financials (AGAIN) and put every penny we can into a single bank account and try to get the loan without the other money. Follow? Clear as mud? Ya, to me too.
Wish us luck!
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