Robert Ross
Seaside, OR (USA)
Role(s):
Founder/Owner/Principal
Edgewater Inn On The Prom
Find More Startups
Startup
Location:
Seaside
Industry:
Hospitality
Year Founded:
1994
Number Employees:
1-10 people
Description:
The Edgewater Inn is looking for funds to refurbish/remodel/and (URL removed)i.
Posted By: Robert Ross
Company: Edgewater Inn On The Prom
Category: Funding Needed
Location: Seaside, OR (United States)
Post Date: 5/14/2010 11:07:59 PM
Edgewater Inn On The Prom is an established business located in Seaside, OR. We are in search of $250k in business funding so that we can grow our Hospitality business. Right now, Edgewater Inn On The Prom currently has annual gross sales in the amount of $250k or Less. Here are some additional details relating to the type and use of funds that we are looking for.
Edgewater Inn On The Prom currently plans to use any raised funds primarily for the following purposes:
-Operating/Growth Capital (Payroll, Sales & Marketing, etc) Expansion and refurbishing.
With that in mind, Edgewater Inn On The Prom is most interested in receiving capital from these types of funding sources:
-Equity Funding (Venture Capital, Angel, Private Equity, etc.)
-Alternative or Loan Funding
===================================================
15 UNIT OCEANFRONT HOTEL: GOOD CASH FLOW: FAST FUNDING REQUIRED; TO START GIFT SHOP AND HOTEL RESTAURANT FOR EXPANSION AND REFURBISHMENT BEFORE SUMMER SEASON STARTS. (Friday:Dated; May 14,2010) ;-)
===================================================
We are looking for $250,000.00, to begin refurbishment and expansion of the Edgewater Inn On The Prom.
=================================================== See the virtual tour on the about page
(URL removed) ===================================================
Our grant writer has found 15 foundations that will fund $469,000.00 TOTAL in General support grants that will fund by mid Aug. this year.
....@ We want to finish our projects BEFORE the Summer season starts. Our suppliers and subcontractors are waiting....
Here's our proposal:
May we offer an interest only installment at 12% per annum/$2500.00 per month for twelve months; with 6 month's payments placed in escrow prior to funding? The funding will be wired to an escrow account and monthly payments will be dispersed from escrow to the Investor. We will place $15,000.00 in escrow to receive funding; then we will place another 6 month's payments in said escrow account for a total of one year's disperment.
We are requesting this loan for one year; with reservation to renew for a second term of one year as per the Investor's call.
The hotel has been in business non stop for 16 years with 8 of those years under this Owner. INVEST IN AN OCEANFRONT HOTEL ON THE BOARDWALK.
***********(There's an oceanfront lot for sale next to us!***************
would you help us with this too?
We would like to create an on going relationship with a few Investors for other projects we have in mind as well. We are looking to close in 5 days upon deposit to escrow with 6 months payments. Thank you.