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    5 Replies Latest reply on Feb 17, 2009 12:40 PM by netnextday

    Running out of money, need growth capital and advice

    apparelmaster Newbie
      Hi Everybody!

      We have a profitable apparel business that has continuously doubled sales during the last 3 years, we are reaching $1M this year.

      We have a 7A loan for 150K but, the bank 8 months ago didn't want to extend it, now we are 2 months behind and it will be harder to get another loan from SBA.

      Looks like all investors are looking for technology and our market is approx. 130 Billion dollars!! Now we have approx. 50K in PO's to deliver in January and no $$$ to pay to manufacture the items.

      We have approx. 80K in inventory, shoud we liquidate inventory at like 1/4 to get some $$??

      Our credit scores are low as we injected $$ from our personal cc's several months ago. Sales this year are the best from the 5 years we've been in business and no capital to continue growing.

      Factoring doesn't work for us as we are not giving credit to any clients to give us a better cash flow.

      Any ideas would be appreciated