Financing and some encouragement...

So, company name change and EIN transfer are finally finished! I can't believe I got the trademark on the first name and it actually took one entire year to change it to the new name. I finally went to the bank and was able to create a business bank account and I applied for a loan. I went to Chase to create the account and ask for a loan. The entire process only took one hour, including applying for the loan. I was worried I'd have to have all my projections and business plan complete but not anywhere close. All they need to see is my personal credit score because I don't have business financial history.

I can't believe it took a year to finally get to this point. I can't even blame my laziness for the time it took. Just took that long for the lawyers to file and state to approve. Jeese...how can business happen at this pace? It's exactly how I feel about the pace I'm moving in developing the business.

On one hand, I feel like I can't work any faster because I'm relying on freelance database admin and technical developers and their schedules. But on the other hand, I know I don't have to come home after work and just sit there watching TV for four hours. I'm usually guilt stricken for not working on the business plan, marketing plan, updating my blog, reading articles and expanding my knowledge, reviewing work from database admin, updating my financial projections, reviewing photos for the site and the other million little things I need to do. Sometimes I feel like there's just so much I just throw my hands in the air and give up all together. Which, obviously, is not the right decision. But f* it. I just worked 9-10 hours at my "9-5" job, last thing I want to do or even capable of doing is putting any further thought into something productive. Complain, complain, complain. Tired of even hearing my own complaints.

The one encouraging thing that happened recently was my meeting with my PACE financial management course instructor. Weeks after the class had been completed, each student scheduled time with the instructor, who owns her own accounting firm. During this hour we are able to ask her whatever relevant questions we had about our business finances. My main question was about my financial history and my lack of collateral and how they might affect my chances of obtaining a business loan. She suggested using the cash flow statement as my projections. I continued to speak with her about my business plan and such. For every question, I had a solid answer. Are you done with your business plan? Do you have experience with this type of business? I was encouraged by this. Despite how slowly I've been developing this business I was making progress and moving my dream forward. I have to remember to not always be so hard on myself and remember that.