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    2 Replies Latest reply on Oct 17, 2009 10:49 AM by phanio

    At a worry point in my plan?

    RRLive Newbie
      In June, I opened a Gift shop/Christian Bookstore in my decently sized town. I had the money for rent and startup. Then after some persuasion, I was influenced to add the eatery for the locals who want to get out of the secular world and the youth in the area o have a safe place where they won't be solicited or pressured. Now, I am stuck, the renovation has taken three months where I haven't been open and I can't extend my loan, so I am not sure what to do, should I spend the last of the money on a plumber and pray for the best or should I pay rent and go back to work and give up on what I feel I have been called to do?
        • Re: At a worry point in my plan?
          JasonTees Wayfarer
          Have you spoken to your landlord? Perhaps they can give you some temporary breathing room. You should also talk to your lender and explain your situation.

          Unfortunately the key to these things is not to overextend yourself in the first place. Hopefully this will prepare you for your next venture. Construction contingency money should always be a part of any renovation.
          • Re: At a worry point in my plan?
            phanio Pioneer
            As stated - might try asking your landlord for an extension or some type of break. Or, pay your rent - postpone the renovations - get your store up and running with the promise that the other is coming. You could even put out a jar and ask for donations from current customers to complete the renovations.

            My thoughts are if you don't pay your rent and find a way to bring in income now - you won't have a business and all you have done to this point will be lost.

            There also many be other ways to get a little extra cash if you really need it - think about micro-loans or peer-to-peer lending.

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