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Title: Rock climbing gym in Research Triangle Post by: Beef Supreme on April 16, 2014, 02:51:09 AM Just got turned down by a small business association loan manager.
He wanted at least 100K of down on a 400K loan to build a rock gym in Research Triangle Park, NC. I told him I could get it done with 300K, he said 400K would be a safer number. He suggested I take the idea to other banks. I planned to accept crypto currencies to climb there. I even planned to allow route setters to get paid for there routes via QR codes at the start holds. That way route setters should be rewarded is by public opinion, not how much I think their time is worth. I had ~70K to go in on it, but the cheapest land I could find was 95K an acre in RTP. Also, being the SBA, they required ALL WORK to be done by licensed contractors. Of course the metal structure, concrete, and all that should be done by professionals, but I worked for my dad's construction company many years, and a lot of the cost cutting stuff can be done by myself and a few other hard working folks. I decided that I would have to start a smaller business with the cash on hand, and work my way into paying for the project WITHOUT the bank's help. Too bad really, I planned to have a section just for crypto traders, where people could buy and sell BTC safely. I also wanted to put in a nice 3D printer where folks could play around with bringing their climbing hold ideas to life. So, project is on hold for now… |