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STATEMENT OF PURPOSE

Victoria Bed & Breakfast is a limited liability company seeking a $160,000 portfolio mortgage loan to finance the purchase of the residence located at 825 N. Watson, Munising, Michigan. This house, currently a duplex, will be converted to a single family residential structure and bed and breakfast establishment. The owners will be contributing $100,000 of their own money as a down payment toward the purchase price of $260,000 and will be paying closing costs. The house will serve as collateral for the mortgage.

In addition, James and Alexandria Wolfsted will be seeking a $85,000 construction draw to cover start-up costs of the bed and breakfast conversion. The owners have already invested $6,670 in start-up costs.

The owners have formed a Limited Liability Company named Victoria Bed & Breakfast to operate a bed and breakfast home. The home will be converted from a 6 bedroom duplex to 4 bedrooms with private baths and working...

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1. Introduction
2. Statement Of Purpose
3. Description Of The Business
4. Description Of The Market
5. Description Of Competition
6. Competitive Advantage
7. Description Of Management
8. Business Goals
9. Trends And Industry Outlook
10. Target Market
11. Marketing Promotion
12. Letter Of Support
13. Financial Data