Hi everyone. This is my first post here and I'm in need of some advice. Right now I run at least in my perspective a somewhat successful Business that is helping me pay my bills. I started this business with $200.00 in April 2013 and by Tax time my business netted 24,000.00 in sales and 9,000.00 total profit for the year and I'm on track to reach $45,000.00 in sales in my second year with much better margins this go around. But I'm at a very critical point in my business. My business sells Organic Soils & Fertilizers to grow Medical Cannabis. While my products will work for any gardener my target market in Cannabis growers. I have the #1 placement for my main keywords I need for people to identify me without paying for marketing. I also receive many word of mouth referrals and I have some very dedicated customer to help me get my businesses name known.
My problem is my business needs to expand. I cannot take away from my family again to put back into the business for one I just simply don't make enough in profit to be able to expand how I need to expand, and two I have a newborn that is 7 Days old and I cannot mentally depriving my child or my wife of the essentials we need to get through the month which is what would have to be done to expand with out help. My Credit Score is 635 which just isn't good enough to get real funding. I can get $2,500.00 from Kabbage but no real bank will fund me. Unfortunately when I was 13 Years of age I mad a few mistakes with Drugs and living in Florida they charged my as an Adult at 13 and because of this I cannot receive any SBA Funds. I know quite a few Wealthy Men as I live in Boca Raton and all of them like to say they love my business and some have even setup times to sign a contract and invest but they day it comes to sign they bail. None of them have given a reason for bailing on me either so I don't know if it's me, the business and my customers or what. Out of my friends and family I am the only person that owns there own home and can live with out the support of mommy or daddy and my family has never ever had any money.
I'm at a loss. I feel like I've failed again but for no reason. In this last year I have fought with lawyers over copywrights, domain names, and products and I have prevailed in every situation. If I don't get funding somehow when one I finally get my large customer I will have already failed as I need a 60 Day lead time on making the product to be usable when shipped, and with the capacity my little Two Car Garage allows me I recently had two of my normal customers Completely wipe me out of Product for Two weeks. This is a wonderful thing but makes me understand if a real business which I'm in the discussion with a few want my products I will not be able to provide it to them with in a reasonable amount of time.
I'm a hard headed individual who is willing to do what it takes if I can see the glimmer of hope but that glimmer is fading on me fast and I don't know what to do. Thanks for any advice in advance.