Tuesday, October 20, 2009

Good news.

Good news on the cafe front this morning - I've just finally heard back from the CYBF (Canadian Youth Business Foundation) and they've processed my pre-application for a start-up loan.

I can apply for the max amount, $15,000!

With that step out of the way, I need to concentrate on finding the right place, so I can finish my business plan and submit it for their consideration. With a ton of other paperwork, naturally.

It will take at least a month for them to decide, and I have to get all paperwork submitted to them by the 1st of the month. Might be tight to make it for November, unless I find the perfect spot in the next week and a half.

Stranger things have happened, but I won't bank on it. As much as I'd love for this to start happening quickly, and get out of this office and into the cafe space, I need to be realistic.

I'm so excited about this with the CYBF - they have an amazing program where they match you up with a mentor, who works in the same field you are looking to start in. They work with you for two years (!!) to assist with start-up, and on-going business concerns. I know a couple people who have been mentored through this program and they can't stop raving about it.

Now I can also start looking at applying with the BDC (Business Development Canada), who will match what the CYBF grant me in loans. Another round of intense paperwork of course, but I'm so glad I have the option to appeal to the government for assistance!

Once that's in place, I need to start harassing banks, and credit institutions.

In the immortal words of Hannibal - I love it when a plan comes together.

1 comment:

  1. Congrats on all your dreams into actions so far! I heard about your efforts from your cuz on Twitter. Yep, that's right! I so wish you the very best for stepping out and living the dream. Go get it!