Some good news

4 replies [Last post]
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Joined:
07/23/2008

I just spoke to the guy I've been trying to work with at C H A S E bank. Very helpful. Although his bank is not lending to the hospitality industry ,He really liked my business plan and said it was really solid, and very good (first one I've ever written for anyone else to see).. He also told me that I CAN use the equity in the property for the down pymt (35%) and if I take some of the cash I have and put it in a 'surety' account for 6+ months of principal and interest payments in the event that my income projections aren't met the first few months, that the payments would still be made, it would make more banks willing to help. 

He gave me a referral, and said he'd continue to look for banks that may be willing to lend to us for this project. 

So, I'm feeling a little more optimistic. 

Now... to get this one sold!!! (I know, I know..... ) 

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Joined:
10/07/2008

yes

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Joey Camb's picture
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Joined:
04/02/2010

well that's a lot more than most of the others!

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Breakfast Diva's picture
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Joined:
05/26/2009

I'm so glad there's a glimmer of hope!

Kay Nein's picture
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Joined:
02/13/2012

That's great news!  Happy for you to have that light at the end of the tunnel shining a little brighter.

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