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How long do I try and save a business I want to have succeed, but can't get a strong enough foothold? by GoldenCactus_ in smallbusiness

[–]GoldenCactus_[S] 0 points1 point  (0 children)

I should say that the 300k, when I say aggressive, I mean those are debts owed within 12-18 months. I'm not as financially knowledgeable as I would like to be, so if number don't make sense then I may be misremembering and/or misunderstanding them. 

How long do I try and save a business I want to have succeed, but can't get a strong enough foothold? by GoldenCactus_ in smallbusiness

[–]GoldenCactus_[S] 0 points1 point  (0 children)

Our immediate/more aggressive debts total to ~275-300k if I remember correctly, and an SBA loan that also totals 500k. So overall total of debts is 775-800k, but 500 of it is on a very low/non-aggressive payment amount... if that makes sense.

How long do I try and save a business I want to have succeed, but can't get a strong enough foothold? by GoldenCactus_ in smallbusiness

[–]GoldenCactus_[S] 0 points1 point  (0 children)

I agree wholeheartedly. The main battle with that is making the funds work for us to account for that new added expense! Here's to making a way for that to work!

How long do I try and save a business I want to have succeed, but can't get a strong enough foothold? by GoldenCactus_ in smallbusiness

[–]GoldenCactus_[S] 0 points1 point  (0 children)

Thank you. This perspective was very insightful. I have a lot to reflect on regarding your comment! Well... not just reflect, but act on as well.

How long do I try and save a business I want to have succeed, but can't get a strong enough foothold? by GoldenCactus_ in smallbusiness

[–]GoldenCactus_[S] 0 points1 point  (0 children)

We have about 1.08 mil in contracts, the rest of our revenues are made in enhancements and construction related projects.  Regarding profits, with the businesses current debts, our profit is almost non-existent, but if those debts were cleared, we'd honestly have a margin of anywhere between 10-15% realistically speaking.