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    5 Replies Latest reply on Jul 19, 2008 9:59 AM by LUCKIEST

    Need $150-250K for growing company

    grobinson Newbie

      Company has been in business for 15 months (below the 2yr threshold for most traditional lenders). We currently build custom web applications for clients, revenues so far this year are over $110,000. We are looking to bring a couple of new web products to market, with potential for residual revenue of over $1 million by year 2. Everyone loves the product (we have prototypes built) and the business plan, but our "newness" is causing heartburn. Also, our "collateral" is more intellectual than tangible (6 employees in a 2000sq ft leased office).

      We need $250k to launch the products nationally, or $150k to launch regionally (we prefer a national launch). Very little in CC transactions, so the merchant financing option doesn't really work for us...

      Any thoughts/suggestions?

      Thanks,
      G.