Financing Fun

With any luck we should be in the home stretch of moving forward with our expansion and remodeling project. It took 3 years to get through the design, review, and permitting process. The last 3 months we’ve been working on obtaining financing for the project.
The good news is that everybody who has seen our business plan has really liked it. Unfortunately we are in a time period where loans are very hard to obtain. We are making our way through the process and things seem to be progressing. At this point it appears that if we get a favorable appraisal our loan will be approved.
The appraiser is scheduled to be here later this week. In speaking to him on the phone he seems to have a pretty good grasp of what we are trying to do. He belongs to a club where he lives, and he has done appraisals on other fitness centers. So at least he’s got some background info to use as a frame of reference.
This is going to cost us $9500, and we’ll have to wait 3-4 weeks before we get the results. As long as it’s good news, we’ll look back at this as just another bump in a very long, rough road.

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1 Comment

Filed under Construction

One response to “Financing Fun

  1. Lillian Conrads

    I enjoyed reading the Healthquest blog and knowing some of the people was good too!

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