Setbacks, Frustrations, and Cupcakes

This weekend was rough. After a week in suspense over what the sellers of our house will and won't fix on our post-inspection requests, I got a call on Saturday from the lender to tell me that I was no longer approved for the loan he approved me for a month and a half ago.  Good For Ewe reported a loss last year- that's just what happens when you start a company halfway through the year with a ton of overhead- you don't break even.  And although they won't consider any income from Good For Ewe to be valid income for the mortgage, they will consider last year's loss to be a good enough reason to stop everything.  But they had to wait until after the sellers cashed the earnest check, I paid for 2 inspections (ouch!) and the sellers had started repairing what we requested to tell me they had changed their minds on the loan.  Less than 2 weeks from the closing date. Thanks, Huntington.  I'll be moving my 3 accounts to another bank within the next week.

Furious does not begin to cover what I'm feeling.

I knew that starting my own business would be slow and frustrating, but I wasn't prepared to put my life on hold for 3-5 years.  (I need 2 years of tax returns not showing a loss before I can be considered for a mortgage, and it will be a while before I make up for all that overhead- especially since any "profit" is reinvested into new colors and going to trade shows.) I also haven't really been paying myself much from Good For Ewe because I haven't had to.  I had savings, I sold cupcake hats and then I started working at the nursery.  So what was best for the company is bad for my mortgage.  There are days that I love owning a yarn company and everything is all butterflies and rainbows, but right now I'm regretting every decision I've made for the past 4 years.  Not a great time.

I'm meeting with yet another lender tomorrow that specializes mortgages for small business owners and people with inconsistent incomes. I really hopes this works out- otherwise I've blown months of savings on a house I can't buy. Once again, thanks Huntington.

Not a whole lot going on as far as knitting goes- trying to crank out as many cupcakes as possible before I drop my goodies off at the craft fair on Saturday.  I'll have a table there for a week and I'll probably spend the entire week it's there making more cupcakes and dropping them off- last year I took 15 (I think?) and came home with 1.  I currently have 2 finished- I've made 8 but sold the other 6 before I could finish them. Then back to a hired knitting project and then maybe some Christmas gifts.  I'm getting a little burnt out on cupcakes, but I'm considering sucking it up and trying to make them a year round thing- a little extra income wouldn't be a bad thing right now. The only question is how- etsy?  Boutique?  On the corner in a dark alley?  Facebook pimping?

And something that makes me smile- Party Girl in her ogre hat and pumpkin sweater.

Have a Happy Halloween!