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Financing

by printunl, Performer

  • Created: March 23, 2010, 11:30 pm
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12 comments

My husband and I own a small printing business. For 22 of 25 years the company allowed us to live a modest life. The last 3 years sale are down.

overhead cost are up, I am sitting here in front of my computer looking at vendors bills that are 60 days old. I am just barely making payroll (already laid off one employee) and the phone, electric and tax payments. Work is not the problem, we are busy it just cash. No one seems to pay. I call my customer, they say they are not getting paid so they can't pay me. I can not say that. I have paid many vendors with credit cards which are now maxed.

I do not know what to do. I am petrified that I could lose all this after sacrificing my marriage, my children and basically our life to make this business run. Please if any one knows of a solution or where to turn for help I would greatly appreciate it.

Tags: Discuss Popular Topics, Loans & Grants
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chuckycasa | Creator | 1/18/2011 - 8:45 am

Hi, It seems your not alone. Many businesses are resorting to personal funds to finance their businesses. Most of them are cash short, and must remortgage their home to keep afloat. I think the economy will be better starting september to november. So I hope your business performs better like you did in the past. All the best http://www.unemployed-loans.com/ Message Edited by JamieD on 08-20-2009 02:47 PM
Professional Web Site: http://freepressreleases.net/

CrestCapital | Creator | 1/18/2011 - 8:45 am

You could try a lender specializing in 'accounts receivables factoring' to temporarily improve cashflow, but that doesn't really resolve your challenging situation long-term.     I agree with what capitol116 wrote. Rather than simply looking to borrow more money (going deeper in debt) - addressing the issues causing the challenge should be your primary focus.  Requiring a deposit on work is sound advice from a revenue standpoint, and reducing overhead by any means necessary is mandatory from an expense standpoint.   Best Wishes it all works out for you.
Professional Web Site: http://www.CrestCapital.com

phanio | Contributor | 1/18/2011 - 8:45 am

I too would recommend accounts receivable factoring. Not only can you leverage your current assets (a/r) but many of these firms can help you with collections - allowing you to worry less about it and focus more on getting your jobs dones. Might be a simple way to bridge until the economy does begin to turn around. There is also purchase order finacning that allows you to receive the funds you need to complete jobs for customers - including hiring the labor you need. There are also business cash advances. These are not loans but cash advances that are only paid back based on the volume of your future sales - if sales are down - then you payment is less and so on. As already stated, try to stay the course - a recovery is just around the corner. Lastly, while this is no ones favorite activity - you might have to get more forceful in your collections. If you borrow money - even on credit cards - they have no problem hounding you for payment - if your customers owe you - you have extended them credit - you are their lender - and you may think about getting a bit more forceful in collecting. Think about the other option, they don't pay you after you helped and continue to help them and the end result is you lose your business while they keep theirs.
Professional Web Site: http://www.businessmoneytoday.com/

CrestCapital | Creator | 3/23/2010 - 11:30 pm

You could try a lender specializing in 'accounts receivables factoring' to temporarily improve cashflow, but that doesn't really resolve your challenging situation long-term.     I agree with what capitol116 wrote. Rather than simply looking to borrow more money (going deeper in debt) - addressing the issues causing the challenge should be your primary focus.  Requiring a deposit on work is sound advice from a revenue standpoint, and reducing overhead by any means necessary is mandatory from an expense standpoint.   Best Wishes it all works out for you.

phanio | Contributor | 3/23/2010 - 11:30 pm

I too would recommend accounts receivable factoring. Not only can you leverage your current assets (a/r) but many of these firms can help you with collections - allowing you to worry less about it and focus more on getting your jobs dones. Might be a simple way to bridge until the economy does begin to turn around. There is also purchase order finacning that allows you to receive the funds you need to complete jobs for customers - including hiring the labor you need. There are also business cash advances. These are not loans but cash advances that are only paid back based on the volume of your future sales - if sales are down - then you payment is less and so on. As already stated, try to stay the course - a recovery is just around the corner. Lastly, while this is no ones favorite activity - you might have to get more forceful in your collections. If you borrow money - even on credit cards - they have no problem hounding you for payment - if your customers owe you - you have extended them credit - you are their lender - and you may think about getting a bit more forceful in collecting. Think about the other option, they don't pay you after you helped and continue to help them and the end result is you lose your business while they keep theirs.

loansexpress | Window Shopper | 1/18/2011 - 8:45 am

Show Replied Text…
I too would recommend accounts receivable factoring. Not only can you leverage your current assets (a/r) but many of these firms can help you with collections - allowing you to worry less about it and focus more on getting your jobs dones. Might be a simple way to bridge until the economy does begin to turn around. There is also purchase order finacning that allows you to receive the funds you need to complete jobs for customers - including hiring the labor you need. There are also business cash advances. These are not loans but cash advances that are only paid back based on the volume of your future sales - if sales are down - then you payment is less and so on. As already stated, try to stay the course - a recovery is just around the corner. Lastly, while this is no ones favorite activity - you might have to get more forceful in your collections. If you borrow money - even on credit cards - they have no problem hounding you for payment - if your customers owe you - you have extended them credit - you are their lender - and you may think about getting a bit more forceful in collecting. Think about the other option, they don't pay you after you helped and continue to help them and the end result is you lose your business while they keep theirs.
First off, let me say I'm sorry to hear of your financial hardship. I feel for you and can only imagine how hard it must be for you to keep going.   While there is already some great tips, e.g. accounts receivables option, have you ever tried to run your business with demanding money upfront?   I'm not sure how this would go in your case, but when the economy is tight (as it is now) there has to be ways to minimize your losses by not taking high risks?   All the best   Walt
Professional Web Site: http://

chuckycasa | Creator | 3/23/2010 - 11:30 pm

Hi, It seems your not alone. Many businesses are resorting to personal funds to finance their businesses. Most of them are cash short, and must remortgage their home to keep afloat. I think the economy will be better starting september to november. So I hope your business performs better like you did in the past. All the best http://www.unemployed-loans.com/ Message Edited by JamieD on 08-20-2009 02:47 PM

JamieD | Former Moderator | 1/18/2011 - 8:45 am

Show Replied Text…
Hi, It seems your not alone. Many businesses are resorting to personal funds to finance their businesses. Most of them are cash short, and must remortgage their home to keep afloat. I think the economy will be better starting september to november. So I hope your business performs better like you did in the past.All the best http://www.unemployed-loans.com/Message Edited by JamieD on 08-20-2009 02:47 PM
The Small Business Administration recently received fund to expand the microloan program. Try checking out that program as well as several alternative financing options for people with poor credit. Good luck and please continue to share your experience and use the community as a resource.

JamieD | Former Moderator | 3/23/2010 - 11:30 pm

Show Replied Text…
Hi, It seems your not alone. Many businesses are resorting to personal funds to finance their businesses. Most of them are cash short, and must remortgage their home to keep afloat. I think the economy will be better starting september to november. So I hope your business performs better like you did in the past.All the best http://www.unemployed-loans.com/Message Edited by JamieD on 08-20-2009 02:47 PM
The Small Business Administration recently received fund to expand the microloan program. Try checking out that program as well as several alternative financing options for people with poor credit. Good luck and please continue to share your experience and use the community as a resource.

capitol116 | Performer | 1/18/2011 - 8:45 am

Show Replied Text…
Hi, It seems your not alone. Many businesses are resorting to personal funds to finance their businesses. Most of them are cash short, and must remortgage their home to keep afloat. I think the economy will be better starting september to november. So I hope your business performs better like you did in the past.All the best http://www.unemployed-loans.com/Message Edited by JamieD on 08-20-2009 02:47 PM
Welcome to the reality of the times, however I suggest that you have to start requesting a deposit on all jobs. A reasonable percentage is 60%, with that you can cover the cost of materials and labor costs.   I know it is hard to tell customers of deposits, but they will understand, good luck