Advice on Getting an SBA Loan

Coyote Blog writes a few days ago about how to get an SBA loan. "What finally made the decision for me is that this government program has crowded out all other private options. Banks get about the same rate for an SBA loan as they would for a commercial loan without the guarantee. Since the guarantee is out there and doesn't cost the bank anything, the bank has no reason not to insist on it? Therefore, as a small company in the SBA size range, there just are not any banks willing to lend without the SBA guarantee. This does not mean that in a free market without the SBA there would be no loans - it just means that when such a free subsidy program exists, banks are going to take it." He goes on to give a nice simplified version how what these loans are and how to get them. He outlines other costs and considerations and about what type of bank to look for. These are all very important things to keep in mind while searching for these loans and things I will remember as I continue my search for this type of loan. These loans are not something you can go out and find today or tomorrow but require time and planning. Take a look through his article for a nice outline. ~~be bold (link came via Business Opportunities Weblog)

Tips on Hiring

The Entrepreneurial Mind offers this post outlining the tips of hiring and retaining employees in a tight market. "Just like that we have gone from the media worrying about jobless rates being high, to worrying about tightening job markets making it tougher for small businesses to compete for workers." Dr.. Cornwall gives us some points to remember when hiring.. 1. Keep Staffing Forecasts Current 2. Base Staffing Plans on Milestones, not on Time 3. Measure Your Employment Triggers 4. Never Just Hire Warm Bodies 5. Keep Current on Wages and Salaries 6. Don't Forget to "Close the Bank Door" There are great descriptions about each of these tips at The Entrepreneurial Mind if you are interested. It is interesting how we go from worrying about to few jobs to worry about not being able to fill open positions. ~~be bold

It Takes Time

I found an interesting post over at Dane's Business-Opportunities Weblog today. He used this graph to show the time entrepreneurs spend working on business. This was a Gallup Poll and Dr. Jacobe study and they found that small business owners work an average of 52 hours a week. I can tell you this. If I can get away with only working 52 hours a week at start-up, I will be happy. I have this strange feeling I will be working more than that in the starting house but will surely plan in time with my family, friends, and of course on my bicycle and skis. Interesting reading. Go check it out. ~~be bold

Featured Program: Cup Night

Another program we hope to instill at Cafe Evoke is Cup Night: One night a month when you buy a cup of coffee you have the chance to pay a few extra dollars and keep the cup, and your next five refills with that cup are only .25. This will be tracked with a punch card that must be present at each refill. The cup will be different each time and will not be sold any other time. This cup will feature the logo for this night and be something that will stand out in the cabinet of the person who decides to buy it. I have been to many bars that do this same type of thing and it is always very popular. I feel that if we can have monthly "parties" in which there is a different theme or featured blend, it will spark excitment througout the month. That is my vision for this night. That, like Dancing in the District in Nashville TN or Music on Main here in Bozeman Montana, it will be something people know is coming and will always show up to see who else it there. ~~be bold

Update...

I talked with our leasing agent yesterday afternoon who came back with a few stipulations. 1. They needed it personally guaranteed and 2. They did not want to hold the space, off market, until we secured the full SBA Loan we are trying to get. The good thing is that we have a financial backer that will take us till opening day giving us a few more months to help secure this loan. I have a few meetings in the planning stages for advice on the best way to achieve this SBA loan. This space is going to be $6.00 more per square foot (annually) but traffic will be doubled at this location so I believe it will pay off. It is still under the initial amount of $2400.00 a month in rent that I had set forth in the beginning of planning Cafe Evoke. I got a bit spoiled, I think, when we were working on the first space that fell through as that was going to be very cheap rent. We would have spent quite a bit on build-out however at the other space that we will not have to spend on this one as the floors are concrete (already) and we have no demo at all. Things are looking very promising and I have been given the go ahead by our financial planner to secure this lease. I am going to turn in my letter of intent today and hopefully we will hear something by mid week, have the lease by the end of the week, and sign something the next week. ~~be bold

Featured Program: Happy Hour

Every afternoon from 11-1, we will give drink offers such as two for one shots of espresso or 50 cents off drinks. Hopefully this will draw more college students in during the afternoon when they are done with class. I also believe this will help us gain valuable sales during the time of day that can typically be a bit slower. Although we are not right on campus as we were when I created this program, we are now very close to the high school. I hope that we can pull students that have off-campus lunches into Evoke with this cheaper time frame. This, again, will be a way to have people come in and call Evoke home (at least a place that feels comfortable to them and a place then know they can come and have a great drink and hang out with friends). If we can achieve this success with the high school students, we will be setting ourselves up for life long customers as many of these kids will end up going to Montana State University. ~~be bold

Here They Come

Here is an article talking about our friendly green giant Starbucks. This article is hitting somewhat close to home however and it makes you think. Great Falls is a just under 200 miles from Bozeman and will be the 4th city in Montana to host a Starbucks store. The first thing everyone asks is if Starbucks is going to overrun all other small, independent coffee houses similar to the destruction caused to mom and pops in the "Walmart" market. I don't think so. Many small coffee owners in Great Falls are confident that this entrance will only increase their sales over time. While Starbucks is clearly a strong competitor, Smith says the company is rarely to blame for driving out small players in the coffee business. "National studies completed outside of Starbucks have shown that when Starbucks enters a community, the sheer demand for specialty coffee goes up," he said. "So we think there is plenty of room in the market for independent retailers." This is going to happen here in Bozeman and like I said a few days ago, was going to happen in the building we are now trying to occupy. The way I see it is that there is demand in these areas and that my market research was a success! If this giant was picking between the space I thought would be great and another, then I feel very confident in Cafe Evoke's success. I hope to be able to work with this company when they do make their appearance in this town. I think that is the only way to truly show you are committed to do business "in ways that produce social, environmental and economic benefits for communities in which it does business," ~~be bold

Featured Program: Roll Back

I am going to begin this new section, Featured Program, that will give an explanation about certain programs we will be doing at Cafe Evoke. The goal of this is to get your feedback, comments, questions, and concerns about these ideas we have had. This is going to be a big part of our marketing scheme and I think will be a big distinguishing factor at Cafe Evoke. The first idea is our Roll Back after 10:00 pm program Every night after 10:00pm we roll drink prices back to the nearest dollar. This will increase late night traffic and sales and give students who are studying a discount. We are hoping this will draw people even before 10:00, when the other shops close, because they will know they can stay at Evoke until midnight and they will get a discount so they might as well go directly to Evoke and stay away form downtown. We have seen this work at other places around the country and think it will be a big thing for us at Evoke. I want people in the door. If we can create a since of "home" for people, we will be in great shape. That is the idea behind this program. ~~be bold

When It's Time

A boat docked in a tiny Mexican village. An American tourist complimented the Mexican fisherman on the quality of his fish and asked how long it took him to catch them. "Not very long," answered the Mexican. "But then, why didn't you stay out longer and catch more?" asked the American. The Mexican explained that his small catch was sufficient to meet his needs and those of his family. The American asked, "But what do you do with the rest of your time?" "I sleep late, fish a little, play with my children, and take a siesta with my wife. In the evenings, I go into the village to see my friends, have a few drinks, play the guitar, and sing a few songs . . I have a full life." The American interrupted, "I have an MBA from Harvard and I can help you! You should start by fishing longer every day. You can then sell the extra fish you catch. With the extra revenue, you can buy a bigger boat." And after that?" asked the Mexican. With the extra money the larger boat will bring, you can buy a second one and a third one and so on until you have an entire fleet of trawlers. Instead of selling your fish to a middle man, you can then negotiate directly with the processing plants and maybe even open your own plant. You can then leave this little village and move to Mexico City, Los Angeles, or even New York City! From there you can direct your huge new enterprise." "How long would that take?" asked the Mexican. "Twenty, perhaps twenty-five years," replied the American. "And after that?" "Afterwards? Well my Friend, That's when it gets really interesting," answered the American, laughing. "When your business gets really big, you can start selling stocks and make millions!" "Millions? Really? And after that?" said the Mexican. "After that you'll be able to retire, live in a tiny village near the coast, sleep late, play with your children, catch a few fish, take a siesta with your wife and spend your evenings drinking and enjoying your friends." And the moral is: Know where you're going in life... you may already be there. This came from an email my mother sent me last night. I thought it went nicely here. I'm not sure who wrote it or when or where so I can not supply credit where needed. Great little dialogue however! ~~be bold

For This Week..

It's another Monday and another week for a lot of work. There are only a few pressing issues at hand for this week but they could spawn many more if every works out correctly. The main thing I am working on this week is drafting a "letter of intent" for the new space (if this letter is accepted, I will posts pictures on the site so you know where we are looking). I am hoping this is complete by Wednesday or Thursday so I can have it back to our leasing agent by the end of this week. While this is happening, we will be working on other administrative type things including researching the SBA Loan program in full detail (meeting with a bank or two that does a lot of SBA loans), we will be re-submitting the space layout to the city just to cover our basis, we will be getting S-corp organization paper work in order and submitted, and finishing the interior design. These are all things that will be going on at the same time as the letter but we do not want to get ahead of ourselves. First and foremost we need to have the letter accepted. This space will cost about $2.00 per square foot more than the other space was so it will be important for me to rework the financials, again. I think the added traffic of being on Main Street and in a very busy strip will offset this price and there will not be the "off season" of summer that we would have encountered on campus. That is all of now. ~~be bold

Coffee and Law

"Thirsty for justice? Jeffrey Hughes' two Legal Grind cafes in the Los Angeles area offer "Coffee and Counsel" to those who may not otherwise seek legal advice. Through his innovative venture, Hughes has worked hard to both provide a valuable service to his community and change the public perception of attorneys." This was from an article I came across last December and had sent over to Dr. Cornwall to blog about as this site was not yet up. I was reading over some older posts and found it and thoght I would link to here here today. It is a great concept. We talk often about the new trends in small businesses working out of coffee shops, libraries, and their homes and this is what these lawyers were doing. They liked it so much that they decided to open their own shop. Legal Grinds in which to drink coffee and help the community with legal advice at the same time. I wish the lawyers I have met here thought this was a good idea! This is a great story. Take a minute and read through it. ~~be bold

..because they're your customers..

Great advice today from The Entrepreneurial Mind . He posts about customers and sums up it up like this.. - Don't mislead your customers. - Don't lie to your customers. - Don't treat your customers like they are idiots I will leave it at that. ~~be bold

Wait...Rush! Wait...Rush! Wait...Rush!

"A quick look at the gradually failing airlines, retailers, and restaurant chains we all know about confirms this analysis. They're all content to worry about today's emergency, setting the stage for tomorrow's disaster. Better, I think, to wake up 10 minutes early, make some difficult decisions before breakfast, and enjoy the rest of your day." Seth Godin wrote this article a while back about the hurries of many organizations and businesses. It seems that many businesses will wait until it is to late, or nearly to late to make important decisions. I like to think of my business style as proactive rather than reactive and I think this post has a lot to say about this. It seems to me that many companies go with the saying, "the squeaky wheel gets the discount," not wanting to make any decisions until they must. These business will never be leaders in their markets as they will always be reacting to whatever everyone else is doing. This is a great article to read if you find yourself in this type of situation. I say grab your latte, sit at the table, and buck up. ~~be bold

A New Day, A New Direction

Well, it is Friday and after a few days of recovery and regrouping, I have made some great findings and major progress towards an opening day for Cafe Evoke. I have found 3 areas that are very interesting and hopeful for Cafe Evoke. We have decided on another location to pursue and will be meeting with the leasing agent tomorrow morning, yes Saturday, to talk through some lease agreements, etc. The great thing about working with these people is that.. 1. It is the same property manager we have been working with for months now. 2. They are professional companies that know how to run their business and work with their tenants. 3. They are the same agents in charge of the new Bozeman Mill District in which we would like to be when it is completed in the next several years. We are going to try and see if we can arrange a lease transfer when that time comes. 4. They are also working on another development across from our mall that will be complete in about 5-7 years that might also be a home for Evoke in the distant future. This new location at Main and 19th is in a very high traffic strip center that is in the process of receiving a face lift. Starbucks has recently decided not to go into this same building but were very much looking at opening their first location here. It is not the outside that we really like but we believe that with the added traffic and with a clean slate on the inside, we can transform the place to be a perfect home for Cafe Evoke. I will have more updates as we go forward and I would think that a lease could be signed as early as next Friday. Our kitchen designers love the possibilities and I think it will be a great place for us to serve this community and grow together. Thank you again for all of the support over the last week as we went through our lowest point since we began this process over a year ago. It really helps! I believe now that we have something and I will be able to post pictures, etc to give a face with the name. Money is there (finally) and we have reset and are going after this 110%. ~~be bold

Quote of the Day..

"Living in the city is about interaction, communicating with your neighbors, people you haven't necessarily chosen as your friends, but who are your larger community." ~~Ian Martin, photographer and owner of a building in Oakland's Shattuck corridor. Home of Nomad Cafe (more to come on this cafe on Friday when I return to blogging) ~~be bold

Thinking Things Through

I am going to take the next couple of days off and should be posting again by Friday. I am going to take the next few days and really think through our model, possible places in town this model can work, and what we can do to make this thing happen. Our financial advisor is in town until Thursday and we are going to drive and talk with as many businesses and building owners as we can in any possible location that we can find. We are going to talk with developers and contractors about up and coming new areas in Bozeman and basically get on our hands and knees and find a home for Cafe Evoke. I will let you know how all of this goes. I have cleared the boards around my office from any and all information regarding the space we have just lost and am readying myself for steps forward. I will see you all on Friday. ~~be bold

Options?

We searched this weekend for a new home for Cafe Evoke and came up pretty dry. Parking is going to be the major problem with any location that we find around the college. We did find one building that is a block or two away from where we have been looking that could be great. This location is right off main and a street called College. It is 5,000 square feet and would need to be divided and rented. It was an old restaurant and has a large commercial kitchen with all equipment already included along with tables, chairs, serving pieces, etc. It has a lot of character and most of all a ton of parking. The other option we have is to begin looking at Big Sky Montana. With the new Big Sky Town Center under construction, we might be able to hit this early and be one of the first in the area. So at this point, these are the two options we are looking at right now. We will be conducting population studies and marker research in Big Sky, which is about 45 minutes from Bozeman and we will also be doing some work with the building here. Our financial planner will be in town starting tonight and we will hit some numbers and figure out where to go from here. ~~be bold

It's A Saturday

Last night was a night that we realize we have to really push ahead. We know we do not have the location we have been pushing for since March and I have to make the decision to wipe the boards clean and start over. All of the numbers we have pulled and the interior design and layout we have created over the past few months are now old news and irrelevant. Today we are starting our day by hitting the MLS and finding buildings around the college that might be for sale or lease or even a lease to own. We are going to drive around and make phone calls and get after it. We do not want all of our work that we have done so far to sit around and gather dust. We are glad we gained this experience and now plan to use it to find another building. The three bulletin boards around my desk are now clean we are ready to begin the planning for another location for Cafe Evoke. We will find a place and we will open here in Bozeman Montana. ~~be bold

Quote of the Day

"Actually, this seems to be the basic need of the human heart in nearly every great crisis - a good hot cup of coffee." ~Alexander King

Moving On...

As one day leads to the next, so does one opportunity to another. It looks like the building we have been so close to calling home for Cafe Evoke is not going to work out. After weeks and weeks of planning and negotiate the lease and parking, the owner does not want to help us out with any spaces. His thoughts towards the situation were that I should not have even brought it up with the city as they never would have mentioned anything. Ethics might have had something to do with my decision to go to the city planners for help on this. We do have other options that we are now exploring more than ever. There is still the coffee trailer option (which I have a lot of work to do) and we also went and looked at another building on Wednesday that is a few blocks from the one we have been watching. I will post more on this later. We are meeting with our Financial Planner at this new building along with our contractor and building advisor on Tuesday which should be a nice meeting. The thing that is catching us with our heads down is that we bought some equipment as the owner of the space that we just lost said there was more parking than there actually ended up being. (His mistake!) So, if we can not find somewhere soon, or at least a build to suit that will be opened in several months, we will end up selling off this equipment. We are still pushing forward but I have to admit, options are limited but still there. Its a tough time.. ~~be bold

It's Personal

The Entrepreneurial Mind talks yesterday about personal life and business and how balancing these two areas takes work and planning before, during, and after your business is up and going. I think this also goes along great with Dane's post from over a year ago at Business-Opportunities Weblog about surviving as an entrepreneurial spouse. My wife and I have already been thinking this through and building this time into our business plan and model as this is going to be very important for me as Evoke will be opened from 6:00 am until Midnight and that can make some extremely long hours if I do not plan ahead. I also think this is a good time to point out the differences in entrepreneurial programs such as Belmont University's and schools like The University of Oklahoma. At Belmont, we learn the importance of balancing this time, what business means, why we are even getting in business, and what we are going to be getting in to as we head in that direction where at other schools, you get the good old Harvard Case Study book (or should I say manuals) and start right out doing business planning and writing. As a business owner, you have to make time for the things you love. I mounting bike and cycle which I have to make time for, I snow ski, hike, camp, play music and drink wine which I need to set aside time for. I also need to set aside time with my wife. These things are hard to set time for as you feel like all of your time and attention MUST be on your business. Yes, these businesses will take your time and effort, especially at start-up, but they are only going to be as good as you make them and that will depend on how happy and motivated you are. I have already been learning these things in real life while working a full time, 8-5 job and planning a business. Take time for yourself and learn to how balance these efforts. Read these two articles for great insight in this area. ~~be bold.

Quote of the Day

"It will prevent Drowsiness, and make one fit for business, if one have occasion to Watch, and therefore you are not to Drink of it after Supper unless you intend to be watchful, for it will hinder sleep for 3 or 4 hours." (an old coffee handbill taken from Bloggle: The Coffee Odessy who links to Alex Halavia. Check out Alex's site for the entire handbill from Pasqua Roseee in 1652.)

"Lessons from the Fairway"

There are many things to remember as I move forward with the planning and developing of Cafe Evoke. There is a great article over at The Entrepreneurial Mind talking about things to remember while in the process and even beyond it. Focus: " [A]s entrepreneurs we need to learn to block out that which would distract us. We get excited by all the opportunities that we see out there and start thinking about what to do next. Many entrepreneurs jump too soon to the next deal before the current business they are just getting going is even stable." Set realistic goals and stay within your limits: "As entrepreneurs we need to set realistic goals. Don't try to turn a nice business into something bigger than it is or bigger than it ever realistically can become. Understand what the business can give back to you and work hard to reach that goal." These two areas are things Dr. Cornwall maps out as places that can bring down the entrepreneur. He takes these examples from golf and they tie very nicely to what I am doing at Cafe Evoke. This is what I need to focus on as the excitement of buying our first pieces of equipment (yesterday) and getting the lease singed will push me to move faster than I am ready to and that I need to. ~~be bold

"What's the Plan for this Week," You Ask?

Well, with every Monday comes a new plan for the week. Today is no exception. We have a fairly busy week of planning and meeting ahead of us as we really need to tie down this parking, get with the lawyer, talk with the banker (again), and finish other small detail things. As for parking: We have a game plan that we hope to carry out today. Here is what is happening with the parking in a bit more detail. We have 10 spots to share between us and the other new business going in the spot we are looking at. That means we are still very much shy of the 15 we need. I believe there are 4 or so spots on the street which we should be able to use which would bring us up to 9 or 10. Here is the new part which might or might not work. There is a parking lot directly behind out hopeful building. It is the Foundation of MSU's parking lot. We are going to them today to see if they would "rent" us the last 5 spots in their lot which is only used up to 1 time a month, sometimes not even at all. This would bring us to the amount we "need" to have to open Cafe Evoke. The good thing is that our hours are much different than the other businesses around us who all close around 5:00. Parking should not be a problem. With the Lawyers I hope to get the S-Corp or LLC organization complete this week. This will allow us to set up the bank account for Cafe Evoke. I have made initials calls into a few lawyers last week and I think I found the one we will use. I will keep you updated on this Equipment We are purchasing that equipment today! I should have the check from our financial planner today and we will head to Belgrade to pick up the case, sinks, and sound gear and take it over to our kitchen designers who are going to store it for us until we are ready to begin build out. Everything is coming together and it won't be long until we have the keys. I would guess that the property manager will call today and hand us the revised lease which we will look over and sign. Here we go... ~~be bold.

Update...

All that is holding us back is the parking situation. We are still a bit more than what the parking can hold at this space and we are working with the owner to get this corrected. The other business that is moving into the space next to us is on a deadline and needs to begin construction and we are being pushed rather harshly to get this cleaned up. I think it is going to work out fine, it is just a painstaking job to figure all of this out. Not to mention that the city planners are out of town until late next week. That doesn't help. We bought our first pieces of equipment and I am super excited about it. The kitchen designer, who is going a great job, will store all of the equipment we purchase for free at their warehouse. That is a huge help. We have figure out the counters and interior and are set to go. We are meeting with the banker again today and probably next week as well to hash out the terms of the loan. It appears we might be going after an SBA loan after all as our capital investment is not going to be enough to stand alone. I have a call in to two lawyers here in Bozeman and hope to meet with them Monday or Tuesday to get the paperwork drawn up and get advise on forming an S-corp or LLC. Both were out of the office but one secretary was extremely helpful and kind giving me prices and information about the practice. The other was a snobby bitch and did not give me any info at all. I think I will go with the nice one. That is all that is going on. I hope to have this lease thing done by mid week (next week) and then move forward. ~~be bold

Could it Be?

Well, I have given some deadlines for the property manager to have the lease back to us and today is the day. This is a moment that will cast the future of Cafe Evoke in our footsteps. It is vital partly because we should have the lease back and hopefully be ready to sign by the end of the week but also because I have to make our first equipment purchases by tonight! (or at least say YES!) This equipment is part of the used gear that the coffee shop in Belgrade had available. The owner is a great guy and is going to help us set up Cafe Evoke here in Bozeman. We are getting a display case (hot-cold), 3 sinks, cash register, time clock, and live sound equipment for the stage. The bank should be getting back with us by the end of the week but we are confident in our options and are going to move forward. I am also going to get in touch with the local GDC and try to get some help from them. Our banker has a contact there and said he could get us set up with someone to meet with. Things are moving forward at a very fast pace. If all goes well, Cafe Evoke will be opened in January, 2006. These are key days.... ~~be bold

Real Life Entrepreneurs

Dr. Cornwall over at The Entrepreneurial Mind writes yesterday about two entrepreneurs he spent time with a few days ago. When Dr. Cornwall asked how long this first entrepreneur had been in business, he told him that he had been in for not even 2 years. He had left his position as a publishing executive to start his new electric business. His answer to why he left is the part to learn from.. "I realized that if I took off time to spend with my family on a Saturday when I was working for the company, it cost them money. If I make that choice with my own business, it only costs me money." I have been spending a lot of time figuring out how to best build in time away and time with family while running Cafe Evoke. I feel that it is important as a small business owner to set aside time for yourself and for what matters in your life. There are more than just monetary goals that go along with Cafe Evoke. This is a place for me to serve the community and others, support my family, employ others, and then reach my goals for retirement. This post goes on to talk about another entrepreneur that Dr. C spoke with that looks at business a bit different. It is a great read and demonstration how two different ways of thinking about business are so similar. Cornwall says, "What is very common is that however entrepreneurs define success, it is rarely defined in external terms. Most do not become entrepreneurs to impress others or become famous. They do not define their success based on what other people think about them. They seem to have a healthy ability to tune out external expectations." ~~be bold

Provisions for Lease/Banking Update

We are as close as a few days from signing a 3 year lease with the owner and property manager for Cafe Evoke's future home. I sent in several provisions on the drafted least last night via email and will also drop off a written copy today at lunch. I hope to hear back from the property manager by Wednesday as I need to make a final decision on some of that used equipment that I have been writing about. For the most part, all provisions included have been discussed a meetings between us and the landlord/property manager and I feel very confident that they will be approved and the lease will be reconstructed. We could have this signed as earlier as the beginning of next week. That brings me to the banking side of this...or maybe major portion of this. Our meeting with the banker went great on Friday. I think that at first glance, he really feels like this model will work here and believes in the direction we are going. However, he is a banker and he needs his money back. Of course, we are not only a start-up but also a restaurant. These two things combined are what will hinder us from gaining this loan out right. We do have several options however and will exercise each one until we get a loan. We have not ruled out the chances of using a SBA loan.

Back to the List

I posted several days ago on some goals and timelines for completed those goals. I wanted to check in with this list and see how I matched up last week.. 1. Finish detailed capital budget report: To be completed no later than Thursday, 7.28.2005 I will have to note here, however, that we are lacking the proposal from the kitchen designer. I did estimate these costs however. 2. Have build out report complied for contractor: To be completed no later than Friday, 7.29.2005. We fell short on this as we did not get the proposal back from the kitchen people. I will have that tonight and have the report for buildout over to the contractor tomorrow. 3. Have kitchen layout: To be completed no later than 8.4.2005. 4. Research and call back on used equipment: No later than Wednesday, 7.27.2005. 5. Set meeting with 2 different bankers: To be completed no later than Friday, 7.29.2005. 6. Have reformed lease back to property manager: To be completed no later than 8.5.2005 It seems that I completed most of the things on this list or will be finishing in the next couple of days. We are moving into the final rounds before the lease can be signed and it is an anxious, nervous, exciting, and nail biting experience. ~~be bold