Career doomed? Breaking into corporate

I am trying to get into the financial analyst role and of course eventually into investments. However, I know that with my current credentials and competition in the market place are going to make it extremely difficult.

Graduated from a large state school
BS in Finance in 2008
GPA: 3.3
Internship as a junior at Merrill Lynch PWM

Past 2 years I have been working for my family business (substantial sized restaurant) where I have been learning how to operate a business. I have also taken the initiative to use my background to do financial analysis (budgeting, valuation, trends, variances, cost, cash flows).

I want to go the corporate route but am finding it extremely difficult. I have used my contacts/networks to try and get into companies and they have landed me interviews (John Hancock). However, they question my valuation abilities (job was for valuation analyst) and credentials. I also was asked to take the evaluation test for CapitalOne Financial Analyst rotational program but did poorly and was not asked to continue with hiring process.

I am currently enrolled and preparing for the CFA level 1 for June 2011. I'm even considering temp work to break into larger companies but I fear that this may lead me to a dead end.

What are my options?