cpucyc
10-04-2005, 03:11 PM
Hi All,
well I have just registered onto the forum after watching from afar for a bit and decided to take the plunge.
I operate a monitor wholesale company that was formed in October of last year specialising in reconditioned computer displays.
To cut a long story short I now operate out of a 6,000 square foot warehouse and employ 3 people fuull time. We supply clients accross UK and also in developing nations from Pakistan, Malasia, russia and romania and also to Sweden, Czech Republic and the US. Since October we have processed in excess of 11,000 monitors and have more orders than we know what to do with
Well why post here? to blow my own trumpet? unfortunately not, we seem to be hitting a cash flow issue
All the money has been pumped straight back into the company as is neccesary due to me starting with no initial finance, but now we are recieving orders for a few thousand monitors extra per month from a few different sources, I need funds to aid the expansion.
This is were I am looking for some advice... I dont really want to approach banks as have bad credit rating from past problems (Student....) and also at the age of 22 dont have a lot going to me in that way. I have looked into factoring, however from what I understnad you have to actually supply the goods to the other party first before you get the finance, which is fine but you still have to find the funds to make initial purchase which can be quite high as you can imagine
The only other thing I could think of was Business Angels or venture capitalists, sorry not sure which word is right but from what I understand they take a slice of the pie. Do you think this type of business would be of interest to them? and how would you go about contacting them?
Sorry if I have gone on a bit but look forward to your reply....
well I have just registered onto the forum after watching from afar for a bit and decided to take the plunge.
I operate a monitor wholesale company that was formed in October of last year specialising in reconditioned computer displays.
To cut a long story short I now operate out of a 6,000 square foot warehouse and employ 3 people fuull time. We supply clients accross UK and also in developing nations from Pakistan, Malasia, russia and romania and also to Sweden, Czech Republic and the US. Since October we have processed in excess of 11,000 monitors and have more orders than we know what to do with
Well why post here? to blow my own trumpet? unfortunately not, we seem to be hitting a cash flow issue
All the money has been pumped straight back into the company as is neccesary due to me starting with no initial finance, but now we are recieving orders for a few thousand monitors extra per month from a few different sources, I need funds to aid the expansion.
This is were I am looking for some advice... I dont really want to approach banks as have bad credit rating from past problems (Student....) and also at the age of 22 dont have a lot going to me in that way. I have looked into factoring, however from what I understnad you have to actually supply the goods to the other party first before you get the finance, which is fine but you still have to find the funds to make initial purchase which can be quite high as you can imagine
The only other thing I could think of was Business Angels or venture capitalists, sorry not sure which word is right but from what I understand they take a slice of the pie. Do you think this type of business would be of interest to them? and how would you go about contacting them?
Sorry if I have gone on a bit but look forward to your reply....