Hey everyone out there! Just wanted to give everyone an update on the status of our store one year and almost one month later … We just received good news! We will definitely possibly kind-of-sort-of probably will “qualify” to receive a loan from the SBA for “Emergency Recovery” from Superstorm Sandy!!
Here’s the catch – on top of it not being a sure thing on approval, I was told today by my loan assistance officer that I will have to take a mortgage out on my condo as collateral!!!!
I sure wish someone would have pre-qualified ALL OF THE BUSINESSES AND HOMEOWNERS to see if we passed all the criteria to get HIT with the storm!
And can someone out there please explain to me how I can’t get the SBA to loan my business money – my business that has employed people for almost twenty years, paid taxes and fees as required, and actually makes money (not millions but some profit) but companies that flat out say that they are not making money, have the financials to back that claim, are coming up with valuations in the millions and/or go to Wall Street for their IPO launch. Anyone have any explanation on that?? We’re not asking for millions, just a loan to rebuild.
Just amazes me…