10 Years as Finance Mgr in Fortune 500 Corp
First attempt at Entrepreneurship in mid-1990’s failed—partner problems plus lack of adequate capital for long term funding.
Personal Bankruptcy BK7 as a result
Since personal credit was damaged, with no quick relief available at that time, immersed in learning to build Business Credit with No PG, and later with a new partner as a PG.
Raised over $800,000 in Corp Credit 2003-2004 with new parter, started new from scratch retail business with the funds.
Signed 5-year lease for retail space in Oct 2003, business was successful and later profitable in years 3, 4, and 5, ever increasing sales, revenue and customer reviews.
Outgrew original space, signed 5-year lease for new larger space prior to expiration of original lease, secured $250k construction loan as well.
However, in Oct 2008, the exact expiration of the original lease, the Financial Meltdown happened, and all Small Business Credit was frozen at banks nationwide, and our construction loan was pulled. We tried to secure a new construction loan for over 100 financial institutions for 8 nonstop months, received over 100 “No’s”.