Happy December!
I can never think up creative subject lines. So, an update on the bookstore-
I met with the banker and Jessica on Tuesday. I was hoping he'd tell me something like "Well, without a co-signer, I can't offer you much... $10,000 tops." Instead, when I told him I can't get a co-signer, he said "Ok, I assume you don't own any real estate (my head shook no). Do you have a car? (again with the shaking. Banker leans back in chair.) Well..." I forget exactly what he said, but it was decidedly a "No." At least he was upfront about it. (And I was hopeful because he's the father of a former classmate. She lives in Montana now! That's all I got to. We were in "Conservation Cats" together in jr. high, and he remembered me from a field trip or two... But still no loan!) Argh! So I left feeling totally dejected. Jessica was giving me a ride back to work, and kind of outlined the options. Closing the store is still possible. So is seller-financing, where I pay her off over time, instead of a bank. But she'd have to walk away with nothing, if I can't get a loan. She listed a few other things, and said she'd think things over and get back to me.
But one option was to beg and plead with my dad. He is more reasonable than my mom on these things, or at least he doesn't object to banks and capitalism at large. So I was trying to talk to him today at lunch time. Called his cell and office - no luck. So then I tried home. My mom answered and she caught on. (Amazing, the powers of a mom!) So I said "I'll talk to you if you'll be reasonable and are willing to compromise." She said she was, so we talked. She's willing to consider, and talk to my dad about, co-signing for a $10,000 loan - half for me, half for Jessica, as a down payment. That's it. Jessica had an art gallery reception tonight, so I e-mailed rather than calling. I figured its less intrusive and I can let her call me if she has time. (I sent it about an hour before the reception started.) I asked her if she'd be willing to accept that as a down payment. Now, this is where the real compromise will start. I think my mom was imagining me splitting it 50/50 - $5000 each. But I suppose I could negotiate it to a 60/40, or 70/30 split, if Jessica isn't comfortable with $5000, and if my parents are ok with it... For that matter, I might give her all $10,000, but I don't know if that would work. (The $5000 for me is for cash flow, so I don't start off with nothing. So I can pay the initial bills!)
Well, anyways, we'll see - but now, I am going out soon! (Yay, I kinda have a social life!!)
I met with the banker and Jessica on Tuesday. I was hoping he'd tell me something like "Well, without a co-signer, I can't offer you much... $10,000 tops." Instead, when I told him I can't get a co-signer, he said "Ok, I assume you don't own any real estate (my head shook no). Do you have a car? (again with the shaking. Banker leans back in chair.) Well..." I forget exactly what he said, but it was decidedly a "No." At least he was upfront about it. (And I was hopeful because he's the father of a former classmate. She lives in Montana now! That's all I got to. We were in "Conservation Cats" together in jr. high, and he remembered me from a field trip or two... But still no loan!) Argh! So I left feeling totally dejected. Jessica was giving me a ride back to work, and kind of outlined the options. Closing the store is still possible. So is seller-financing, where I pay her off over time, instead of a bank. But she'd have to walk away with nothing, if I can't get a loan. She listed a few other things, and said she'd think things over and get back to me.
But one option was to beg and plead with my dad. He is more reasonable than my mom on these things, or at least he doesn't object to banks and capitalism at large. So I was trying to talk to him today at lunch time. Called his cell and office - no luck. So then I tried home. My mom answered and she caught on. (Amazing, the powers of a mom!) So I said "I'll talk to you if you'll be reasonable and are willing to compromise." She said she was, so we talked. She's willing to consider, and talk to my dad about, co-signing for a $10,000 loan - half for me, half for Jessica, as a down payment. That's it. Jessica had an art gallery reception tonight, so I e-mailed rather than calling. I figured its less intrusive and I can let her call me if she has time. (I sent it about an hour before the reception started.) I asked her if she'd be willing to accept that as a down payment. Now, this is where the real compromise will start. I think my mom was imagining me splitting it 50/50 - $5000 each. But I suppose I could negotiate it to a 60/40, or 70/30 split, if Jessica isn't comfortable with $5000, and if my parents are ok with it... For that matter, I might give her all $10,000, but I don't know if that would work. (The $5000 for me is for cash flow, so I don't start off with nothing. So I can pay the initial bills!)
Well, anyways, we'll see - but now, I am going out soon! (Yay, I kinda have a social life!!)