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I would seek out 2-3 angels who can provide the $300k investment. It's going to be (near) impossible to get a $300k loan on $20k/month gross revenue. Definitely
by jaredstenquist 16y ago
I would seek out 2-3 angels who can provide the $300k investment. It's going to be (near) impossible to get a $300k loan on $20k/month gross revenue. Definitely not something any reputable bank will put forth in these times.
You'll likely need to part with 10-20% equity in the business, but the value of the $300k to take you to the next level should make sense. Think of it as - can we get to $200k/m by 2012 if we have $300k/$600k/$1mm. If you can 10x your revenue in a year and give up 20%, you're in a good place.