
Just started a new business this month. We have a customer who spends about $300k annually. The profit margin is 30-50%.Right now I have them paying up front for their orders and in the last two weeks they have already spent $20,000. I need to be able to switch them to NET30 terms within the next 2-3 months, but that means I need to have about $25,000 capital to keep things fluid with buying their supplies.I applied for an SBA startup loan of $25,000 through TD Bank and it was denied. TD Bank also declined to give any sort of conventional loan. The reason for the decision was that our credit score (my wife's and mine) was about 20 points lower than they wanted -- we are around 620-640 and they wanted 660-680.What other options for funding can we pursue? see hubwealthy.com/wealthy






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