I am leaving for the weekend and haven’t even started packing or restoring this house to the original order that I found it in. As I get ready to start those things there is something nagging at me. It’s these last two blogs. What downers! How can I leave you like this while I go gallivanting to my leadership class in Chicago? How rude!
The last place in time that I left you was Christmas week. Mark Ritzinger had given me some names to follow up with at River Falls State Bank for a business loan. My plan was to call over there after the new year as an obligation and courtesy. Surely such a conservative bank would never consider doing business with risky ‘ol me.
Well, I didn’t have to wait until January because River Falls State Bank was a’knockin’ at my door. Loan officer Todd Schultz left me a message just a few short days after that fateful meeting at Eddie Bauer. I called him back and made an appointment after the 1st.
I show up to the appointment. I bring in some story boards and don’t even bother bringing a business plan with me. Just the numbers. I was already prepared for the rejection. Why waste good paper with a 100 page business plan complete with color graphics and binder? To be fair, I did bring Todd a 1/4 lb of WeatherVane Creamery Holiday Roast as a token of appreciation in his interest. But little did he know what a waste of time this was going to be. And he was training someone in that day as well, so I had a captive audience of two.
I started the conversation with something like “Here are all the reasons why I don’t think this loan is going to appeal to you…” The conversation ended with him telling me that he was going to talk to his loan committee about it the next week Monday.
Meanwhile I had my Advisory Team meeting the day before and you know how that went.
A few days later I get a call from River Falls State Bank. I return the call and talk to Todd. He astonished me by saying that River Falls State Bank was interested in working with me. He told me how everyone loved the concept and how hard Mark fought for it. I was really touched. Then he explained that no matter how much the bank could bend their policies to do the loan, they could only bend so much and be accountable to their underwriters and government powers that be. I get it. Then he told me that all that I would probably have to do is raise an additional $50,000 to the $30,000+ that I already have raised as well as shave a few numbers on the business plan and we could probably make a deal.
So there you have it. The glimmer of hope. Just a mere $50,000 away from having our store. That is ten $5,000 investors. Or an additional $30,000 loan (in progress) and four investors. That tale is to be told next week. For now, just rest well knowing that not only is there hope for WeatherVane Creamery opening during June Dairy month but that I, Sarah, can now promise without a doubt that WeatherVane Creamery is going to happen. Stay tuned.