Why are These Grants So Important For US?
Below 5, The No Non Cents Store has been in the research and development stages since August 2010. On June 30 2012, Below 5 was first introduced to our community at a local softball tournament where The Below 5 Team conducted a community survey.
After all the surveys were submitted, the results tallied, and after 12-14 hour days, 7 days a week with hardley a day off since August of 2010, in September 2012 I was excited to take Below 5 business plan and presentation to the local bank for funding
I honestly didn't have any doubt in my mind that Below 5 would obtain the funding needed to open a new store, after all, I had spent countless hours on research and development since August 2010, countless hours of SBA training courses, surveys from our community that strongly supported Below 5, a store our community needs as well as saves and creates American jobs throughout our Country. A team that holds expertise in small business, radio advertising and a business degree. After looking at virtually every building for lease in Hamilton MT, after several months, Below 5 also had finally found the perfect building in Hamilton and started to get bids on signage.We were ready, everything thought of and everything planned day by day from the moment we obtained funding to the Grand Opening
I also am a single woman who was disabled due to a car accident in 2001 that left me unable to return to my same line of work I had done in my past, with over 13 years of Banking, Supervise/Management and CNA experience I was having to start over in my life at age of 33 , which is when I turned my hobby into a home based gift basket business in 2003.
So with all that said, I made a list of all my personal collateral, which included all my gift basket equipment I had acquired through the years as well as a list of collateral from the start up like fixtures. I was so confident and planning the next step. The entire Below 5 Team was anxious to open this store. It has been a long journey and we all were ready! Not one of us thought it would even be a problem!
I went to the bank where I have banked since 2000, where my gift basket business use to do displays as well as do banking, I definatley was no stranger to my bank, so with business plan, business presentation and a loan proposal in hand. I was excited, I believed I finally had arrived! I waited about 4 weeks and then the call came from my bank
I was so excited I thought to myself HERE it is! I answered the phone and my banker said "Im sorry you just dont have enough personal collateral." I was a little set back by it all, I was so taken back I couldn't even ask any questions at that moment so I thanked him for his time and hung up the phone in disbelief ! There were a few happenings along the way which I wont mention. I had been working with The Bank as well as The Women's Business center and both told me there was nothing that could be done without more personal collateral. I have good credit and a "Brilliant" business plan, the business numbers support the business itself and so fourth, I was bound and determined to find a way, so without losing that bounce in my step, I started researching the internet for other resources
I started to wonder where are all these resources for single women who are disabled who have good viable businesses to start? You know the resources that everyone keeps saying are available to us? So I wrote The White House (no response) I wrote The Governor (no response) I wrote the Senator awe yes a response..same thing there are no resources for me to help fund Below 5!
I started to search day in day out for grants on the internet, ...boy what a challenge!
I then turned to Idea cafe, I have been part of the forum since 2001 or so, here I found the grants, I was excited. I inquired on one and got accepted to apply. I spent hours on end for 30 days just to make sure I didn't miss one requirement. I submitted my grant proposal on Oct 29 2012. Because the program gives precedence over those with matched funding, I then turned back to my bank and women's business center and asked if they would write a letter on my behalf stating I was declined only because I lacked personal collateral! I explained to them and even asked my bank how much could I get a loan for based on my collateral, he said "I can not answer that".
So In November I received a due diligence letter from the grant I applied for in October, I gathered all my information they requested and then went to my bank and showed them the due diligence letter as well as the request for matching funds, sadly there was no help again, so rather then be discouraged I went to another local bank, this bank doesn't do start up loans but was so open to the business they ran it through..again thinking ok I have these letters etc and all I wanted was to know if I had received a grant for say even half if I would be able to obtain financing for the balance...after all the business would be half paid for and so fourth...didnt think it would even be a problem. 2 days later I received a phone call, same thing not enough personal collateral. I do own my home but its a mobile home, I do own my car but its not a newer car, I do own all my gift basket equipment, I do have good credit...but again none of it was enough to obtain funding. I don't have a lot of money in the bank and just not enough personal collateral!
I sent out the due diligence request back and still waiting for a response..every day is running to the mailbox hoping to see that letter of grant acceptance that will fund the entire project. Every day I wait in hopes that I can finally launch Below 5. The waiting and anticipation is difficult but I admit somewhat exciting. The Below 5 Team has worked so hard and I look so forward to the day I can say "WE DID IT!"
My greatest fear is someone is going to steal my business that I have developed, created, researched and have given my heart and soul to since August 2010 who has the money. I have been told by everyone my business plan and concept is "Brilliant" and it is the only store like it anywhere.
I then applied for the Small business wish from intuit for a 5000.00 grant as well as the 13th annual small business grant for 1000.00. Both of which require votes in order for me to win the grants.
To many these grants may not seem like a lot but every amount gets Below 5 closer to launching..
See my bank says I dont have enough skin in the game, meaning ALOT of money in the bank or enough personal collateral. That is the only reason.
So that is why these grants are important. It's not about winning, it's about getting the funds to launch Below 5 a store that truelly makes a meaningful difference.Where we are not a bunch of rich folks just wanting to start a business, the Below 5 Team is all about community and making a difference. Just everyday people who understand the struggles that many people face.
Thank you for joining this journey with all of us at Below 5
Your votes and support mean alot to us and we are so humbled by all our new facebook and community friends who have joined us on this journey
Thank you
Sincerely
Dena Pate and The Below 5 Team
After all the surveys were submitted, the results tallied, and after 12-14 hour days, 7 days a week with hardley a day off since August of 2010, in September 2012 I was excited to take Below 5 business plan and presentation to the local bank for funding
I honestly didn't have any doubt in my mind that Below 5 would obtain the funding needed to open a new store, after all, I had spent countless hours on research and development since August 2010, countless hours of SBA training courses, surveys from our community that strongly supported Below 5, a store our community needs as well as saves and creates American jobs throughout our Country. A team that holds expertise in small business, radio advertising and a business degree. After looking at virtually every building for lease in Hamilton MT, after several months, Below 5 also had finally found the perfect building in Hamilton and started to get bids on signage.We were ready, everything thought of and everything planned day by day from the moment we obtained funding to the Grand Opening
I also am a single woman who was disabled due to a car accident in 2001 that left me unable to return to my same line of work I had done in my past, with over 13 years of Banking, Supervise/Management and CNA experience I was having to start over in my life at age of 33 , which is when I turned my hobby into a home based gift basket business in 2003.
So with all that said, I made a list of all my personal collateral, which included all my gift basket equipment I had acquired through the years as well as a list of collateral from the start up like fixtures. I was so confident and planning the next step. The entire Below 5 Team was anxious to open this store. It has been a long journey and we all were ready! Not one of us thought it would even be a problem!
I went to the bank where I have banked since 2000, where my gift basket business use to do displays as well as do banking, I definatley was no stranger to my bank, so with business plan, business presentation and a loan proposal in hand. I was excited, I believed I finally had arrived! I waited about 4 weeks and then the call came from my bank
I was so excited I thought to myself HERE it is! I answered the phone and my banker said "Im sorry you just dont have enough personal collateral." I was a little set back by it all, I was so taken back I couldn't even ask any questions at that moment so I thanked him for his time and hung up the phone in disbelief ! There were a few happenings along the way which I wont mention. I had been working with The Bank as well as The Women's Business center and both told me there was nothing that could be done without more personal collateral. I have good credit and a "Brilliant" business plan, the business numbers support the business itself and so fourth, I was bound and determined to find a way, so without losing that bounce in my step, I started researching the internet for other resources
I started to wonder where are all these resources for single women who are disabled who have good viable businesses to start? You know the resources that everyone keeps saying are available to us? So I wrote The White House (no response) I wrote The Governor (no response) I wrote the Senator awe yes a response..same thing there are no resources for me to help fund Below 5!
I started to search day in day out for grants on the internet, ...boy what a challenge!
I then turned to Idea cafe, I have been part of the forum since 2001 or so, here I found the grants, I was excited. I inquired on one and got accepted to apply. I spent hours on end for 30 days just to make sure I didn't miss one requirement. I submitted my grant proposal on Oct 29 2012. Because the program gives precedence over those with matched funding, I then turned back to my bank and women's business center and asked if they would write a letter on my behalf stating I was declined only because I lacked personal collateral! I explained to them and even asked my bank how much could I get a loan for based on my collateral, he said "I can not answer that".
So In November I received a due diligence letter from the grant I applied for in October, I gathered all my information they requested and then went to my bank and showed them the due diligence letter as well as the request for matching funds, sadly there was no help again, so rather then be discouraged I went to another local bank, this bank doesn't do start up loans but was so open to the business they ran it through..again thinking ok I have these letters etc and all I wanted was to know if I had received a grant for say even half if I would be able to obtain financing for the balance...after all the business would be half paid for and so fourth...didnt think it would even be a problem. 2 days later I received a phone call, same thing not enough personal collateral. I do own my home but its a mobile home, I do own my car but its not a newer car, I do own all my gift basket equipment, I do have good credit...but again none of it was enough to obtain funding. I don't have a lot of money in the bank and just not enough personal collateral!
I sent out the due diligence request back and still waiting for a response..every day is running to the mailbox hoping to see that letter of grant acceptance that will fund the entire project. Every day I wait in hopes that I can finally launch Below 5. The waiting and anticipation is difficult but I admit somewhat exciting. The Below 5 Team has worked so hard and I look so forward to the day I can say "WE DID IT!"
My greatest fear is someone is going to steal my business that I have developed, created, researched and have given my heart and soul to since August 2010 who has the money. I have been told by everyone my business plan and concept is "Brilliant" and it is the only store like it anywhere.
I then applied for the Small business wish from intuit for a 5000.00 grant as well as the 13th annual small business grant for 1000.00. Both of which require votes in order for me to win the grants.
To many these grants may not seem like a lot but every amount gets Below 5 closer to launching..
See my bank says I dont have enough skin in the game, meaning ALOT of money in the bank or enough personal collateral. That is the only reason.
So that is why these grants are important. It's not about winning, it's about getting the funds to launch Below 5 a store that truelly makes a meaningful difference.Where we are not a bunch of rich folks just wanting to start a business, the Below 5 Team is all about community and making a difference. Just everyday people who understand the struggles that many people face.
Thank you for joining this journey with all of us at Below 5
Your votes and support mean alot to us and we are so humbled by all our new facebook and community friends who have joined us on this journey
Thank you
Sincerely
Dena Pate and The Below 5 Team