h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

Since I've gotten the shop lined up, I found out several things:

1) The costs figures keep going up. For example, construction costs alone have ballooned from the contractor's original ballpark figure of $15,00 to an estimate well above $47,000. $47,000 was just when I stopped counting.

2) We can't get a business loan without using the house as collateral.

3) The best loan I can get is adjustable, and Mr. Nerd and I find those terms unacceptable. Adjustable home loans are the reason so many people are loosing their homes.

4) I know what you're going to say: The SBA guarantees those loans. They do; I called and confirmed. But they don't control what the bank does, apparently. The SBA guarantees the loan to the bank. So if I default on the loan, the bank liquidates everything, the remainder is repaid from the SBA to the bank. That liquidation would include the house.

5) There are so-called micro-loans out there, but they are for loans between $1,000 and $5,000. That's not enough to buy a taco truck.

I have one last discussion with a different contractor today. I'm pretty sure I know what the answer will be.

Very dear friend

S0 sorry that you are having so many problems with your chocolate enterprise. I would have thought that it had got off to a flying start aeons ago. !!



How are you both keeping? very well I hope. Age is taking it;s toll, and |I am getting really more and more confined. But had a wonderful day yesterday. I want to write about it. !!

With affection

Christiane
AlsoRan80

Sunday 25th September 2010 16.33 GMT 2010