Chautauqua is a lake resort community in western New York, home of the Chautauqua Institution. Businesses around the lake live on a summer season and spend the rest of the year getting ready for it.
Apply Now →Chautauqua is a lake resort community in Chautauqua County, home to the Chautauqua Institution and the birthplace of the Chautauqua movement. The surrounding town was formed in 1805 and is named for Chautauqua Lake. It is called the "mother of towns" in the county, since every other town was once part of it. Historically, steamboats and interurban trains brought visitors to the lake from places like Mayville and Jamestown. Nearby communities include Jamestown, Fredonia and Dunkirk.
A community built around an institution that runs a defined season has an unusual business shape. Revenue is intense for a limited number of weeks, and the rest of the year is quiet.
The ramp-up is the awkward step. The business spends before it earns, usually at the point when the year's cash is lowest.
Inns, bed and breakfasts, cafes and restaurants need to prepare rooms, kitchens and staff before guests arrive. Furniture, linens, equipment and repairs are paid for in spring.
Merchandise for summer visitors is bought ahead of the season, with payment due before sales begin.
Many seasonal cottages and rental properties require repairs, painting and landscaping before opening. Tradespeople order materials and hire help as spring begins.
Equipment must be serviced and ready when the water opens.
For illustration only, not our terms: an inn owner decides to renovate six rooms and buy new linens ahead of the summer. The work costs a round $55,000 and would be paid out in March and April. Revenue from the rooms does not start until the season. If the owner funds the renovation from the account that also pays heating, insurance and staff wages, the account runs dry. If the renovation is skipped, the rooms look tired and the season's bookings suffer. Working capital lets the renovation happen on schedule while the account stays intact.
Funding runs from $25,000 to $5,000,000, funded in as little as 24 hours. The application takes about five minutes with a soft credit pull. We review about three months of business bank statements; no tax returns are required. FICO 500 and above is considered, and sole proprietors can apply. A seasonal business with a bank statement history that shows its pattern is not at a disadvantage.
See Western New York and Chautauqua County, or apply here.
Yes. We review about three months of business bank statements and credit.
No. Seasonal businesses are common. Funding runs from $25,000 to $5,000,000.
Yes. Sole proprietors and small owner-operators can apply.
No.
FICO 500 and above.
Three months of business bank statements and a 5-minute application. FICO 500+ considered. $25,000 to $5,000,000, funded in as little as 24 hours.
Apply Now →It takes about two minutes and it will not affect your credit score.
No obligation • No impact to your credit score
