Funding my dream

Last year when I really took this journey on as something that would not remain on my dream board, but would become a post on my reality board I had a plan of investing $50,000 towards my coffeehouse.  I knew that I had the capacity to raise those funds in about 18 months.  Well attending Coffeefest changed that plan.  I was nearly laughed at when I let people know how much I planned to invest.  Try starting at $150,000!  WHAT?  That is three times the amount that I assumed that I would need.  We know what they say about assumptions :-)

After spending last summer really digging into my plan and understanding just how costly the equipment is alone, my projected amount needed to start this business is, yep you guessed it, $150,000.  Really it is.  Crazy, but the numbers don't lie.  OK so how do I make this happen?  So where is the capital coming from?  I knew that $150,000 was a little out of my personal reach.  I came up with a plan.

The plan included my own $24,000 of personal capital.  $20,000 in equity for my rental property.  $20,000 from four investors and the remaining $86,000 would come from loans or possible grants.  I contacted City Wide Development (CWD).  That exploration led me to Bill Smith.  Mr. Smith handles loan packaging for CWD and he was excited about my proposed project.  He let me know there are no grants available but their are special pots of cash for projects within the City limits.  Unfortunately my project is just outside the City limits, but there are SBA funds that I qualify for.  

Fast forward to today.  After looking into a few possible investors I was only able to secure ONE.  Just one, very disappointing, but that is how it is :-(.  Now I need to borrow$101,000 to make the project work.  After speaking with a banker, I may not have the ability to pull out $20,000 from my rental property.  So now I need $121,000.  I am clearly moving in the wrong direction.  

In come the 200 Campaign!  After praying on how the capital would come about, I learned from church how my Pastor proposed to raise funds for assisting other countries.  One of his methods was 200 persons donating $50 to raise $10,000.  Hey I know 200 people.  I think I know 200 people who might have $50 that they would offer as a gift to my business.  That $10,000 would reduce the amount I need to borrow to 111,000.

As of today I have talked to nearly 100 persons about the 200 campaign.  Most have agreed to participate, 41 have actually come through.  Today I have collected $2235.  Wow!  I am $7,765 from my goal of raising $10,000 in gifted funds.  I press on.  And fully believe that everyone who gave me a verbal commitment will come through along with others who will help meet my goal of $10,000 in gifted funds.

Here are just a few of the folks that I was able to capture that have donated to my effort.

The photos were taken at the launch of our Logo Contest on February 12.  We had such a great time that evening.

Can't say enough about all the support.  Can't say enough about the love I felt.

It takes a village!

Before you think its to late for you to join this campaign you can support my effort by using this link:

https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=2TLBDPBGL3LJ4

Thank you all for reading, and supporting!!!!!!  Juanita-Michelle