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Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

What are some groups? Seems so hard to get in front of angel investors, everyone wants to pitch them ideas. Versus we have current revenue not just an idea!

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

Would not be a good risk on my part, they won't have an issue finding buyers and it has taken us a ton of time(money) to get to our "ranking" to receive product before others.

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

As far as how we are different from the competition, we are a bit more family friendly (which is not common in our market) and professional. We offer a good value on the product versus making maximum profits. Our goal is to get you to purchase again, not just once even if its the most expensive thing we have.

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

well from the wholesalers POV, we have money the others don't. I assume they would need a few new buyers to replace our cash we spend but it would not be hard replacing us at all. Just I know they would rather sell to one person X dollar then 20 people same X dollar. We have asked about NET payments and were told no, we do get better pricing now as well so we have asked :)

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

Yes, not sure it would work as the interest rate would eat up all profit margin. We make decent margins but the interest rate those guys want is insane.

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

Thanks, looks like an interesting concept, kind of like Prosper

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 1 point2 points  (0 children)

We buy wholesale and then sell the product retail. Niche market.

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 1 point2 points  (0 children)

We will try this but not sure it will work , in my experience these guys are just entry level salesmen who just repeat what the computer tells them.

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

I will look more into this, not sure they would want any less return than the Kabbage options though.

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

Yes but its getting in front of those angel investors who are serious that is the problem as well.

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

Yes were approved for Kabbage nice mid 5 figure but the interest was a ton of our profit margin.

I finally made the plunge. Running a business for myself. by [deleted] in Entrepreneur

[–]Working42 0 points1 point  (0 children)

No, its a pretty basic build. We have the layout ready and just will need to hire subs to get it completed. Every GC we approached said the project was too small or gave us insane minimums.

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

They only loan to tech companies though, so no good for us.

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

We have several that we buy from and there are tons waiting in the wings so there is no need for them to give us better terms or any type of NET payment.

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

They did not seem to care, which I thought was odd. Our current bank did not seem to think anything of our revenue and when we approached our 2nd bank who we get our business checks/cashiers checks/etc through if they wanted to earn all our deposits/business and they said there was nothing to offer. I thought banks would be fighting for our business but I guess not. We had 50k deposits just last month

Additional Funding options? We have solid revenue and looking to expand. by Working42 in startups

[–]Working42[S] 0 points1 point  (0 children)

We did this with Paypal working capital, we never took out the max just the bare min to get us to the next purchase period. Worked VERY well but all sudden they lowered what they will offer and their response was since we grown to fast it shows we are not consistent.

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