Thank you for your support. Attached is the information about our story. Please pass on.
Thanx Scott & Donna Chilleen
The Possible End to Small Business in America
(What All Americans Should Know)
Black Canyon City, Arizona— Scott & Donna Chilleen 602-568-7182
WE ARE IN JEOPARDY OF LOSING OUR BUSINESS
What are the Banks and the Government doing to help small business owners in America? Nothing.
First a little history on a small business in Black Canyon City, Kid Chilleen’s Steakhouse. We are a family owned and operated restaurant in a very rural area. We have been in operation for eight years. We hold 50% of the equity in the property and business and are currently up to date on all of our bills, with the exception of past due property taxes. As we all know, restaurants have been highly affected by the current economic conditions. We have applied for every loan, grant, (Arc), any and all assistance out there, and have been turned down.
Summit Bank informed us that they will begin Foreclosure proceedings on December, 30th 2010 if we do not pay the delinquent property taxes. Our loan is not in any form of jeopardy from non payment of said property taxes until February of 2012.
We currently owe $47,000 in back property taxes. We have asked Summit Bank to attach the $47,000 to the existing loan but they refused even though we have paid over $200,000 in principal on our loan and are current on all mortgage payments. We currently owe $550,000 on a business as well as the property that appraised at over One million dollars. (This makes us a very desirable foreclosure target. We consider this to be a personal attack to put us out of business, rather than to come up with an alternative solution.
We have invested our lives, our money and our future in a business that provides jobs and security to countless numbers of people in our community and all of Arizona. If we go out of business many vendors will lose our business and thus the economic decline continues to accelerate. As of yet there is no bail out plan for small business America. We see this happening all around us every day as small businesses are closing at an alarming rate. Small business is the heart of America and we believe the American public should be aware of the lack of attention being given to their local businesses. (Shop local, spend local, support your local business, it might not be there tomorrow)
We know that we are not the only business going through this, as we watch them close around us, we wonder what can be done. We are holding three Fundraisers to help us get through this tough time. We hope you find this story as interesting as we do and pass it on to others, because all our futures are at stake. Check us out on Facebook and our web site www.badassbbq.net