Here is the situation.
My wife and I purchased an existing Gelato business that was only 10 months old, but had two great locations, and was doing poorly because the owners were going through a divorce.
The product is amazing an authentic, and I'm not being bias, but it's the best Gelato around. We make all our Gelato from scratch, from pasteurizing our own milk, adding 4-5 lbs of fresh fruit per batch, and importing all our ingredients from Italy. We want to ensure that our product is the BEST, and it is, but unfortunetly that is only half the battle.
We closed escrow in October 2007 with $3,000 of working capital. I truly believed that the product would sell itself the way it sold me, and thank God it's on that route, but it has been the hardest 6 months. With the economy the way it is, and us being in a 3 month Escrow, not allowing us to open til October, we have suffered through Winter and have used all of our credit to get us through. However, sales have gone up every month, and we are projecting $30,000 in sales this month, and it's not even Summer.
There are no Banks that will touch a 6 month old business that has no credit, but we need capital. We need a loan.
