I need a bridge loan to meet huge and steady demand, but my credit is a train wreck.

ByBrad Sugars

Opinions expressed by Entrepreneur contributors are their own.

I started the business six years ago from the back of my van with $500. Over the past two years, demand is growing faster than my ability to purchase inventory. I now reinvest 95 percent of everything into growing inventory ($450,000 last year) that sells out months before it is made.

我在手工处理,空白页皮革期刊there is no way to push a button and have a assembly line make more. Even though the business grew 300 percent during its SLOWEST YEAR, I am unable to attract an angel investor to shore up my inventory needs or to obtain loans. The company products can be found in more than 300 stores.

I have tried loans against credit card receipts, banks and small ads in financial journals. I don't have any rich friends or family who can help, either. My personal credit is awful. How can I get my wholesale/import/design business a six-month bridge loan or a minority angel investor ?
Positioned correctly, this opportunity sounds like a winner. How are you currently positioning this to a potential investor? Or have you?

One key is to put your numbers together, make a list of potential investors and start working the list. If your numbers are on the mark, you will find the funding you need.

In the meantime, you can probably raise your prices and increase your margins, making your numbers even better. It may even help your credit situation. Increased profits always do.

All the best.
Brad Sugars
Wavy Line

Brad Sugarsis the founder and chairman of ActionCOACH. As an entrepreneur, author and business coach, he has owned and operated more than two dozen companies including his main company, ActionCOACH, which has more than 1,000 offices in 34 countries.

Editor's Pick

Related Topics

Business News

Kristen Bell and Dax Shepard's Family 'Stranded' at Boston Airport During 9-Hour Delay: 'We Made Quite a Home Here'

The actors spent $600 on pillows and blankets while waiting for their flight.

Money & Finance

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

企业家是不能过度指狗万官方望太多a company exit for their eventual 'win.' Do this instead.

Business News

Netflix is Hiring an AI-Focused Role—and the Starting Salary is up to $900,000

The streaming giant is looking for a leader in its machine learning department.

Science & Technology

This Is the New ChatGPT Trend That Will Enhance Your Business

ChatGPT plugins are becoming the new cool trend among entrepreneurs to enhance their businesses and engage more customers. Here are some insights into how they're impacting business enterprises, along with some potential risks that may accompany the benefits.