Hindsight is always 20/20... but whenever I borrowed or raised money for a project, I realized shortly after that I could have done it for much less and/or nothing.
If you have any sales chops whatsoever, you can sell the product/service before you have it, collect purchase orders, and borrow money against those purchase orders for a very minimal amount of interest (a much more secure investment for a lender).
... but seeing as you haven't said what it is I'm guess it's some crazy hair-brained idea like an app or something revolutionary that's going to change the world overnight and if you JUST had 10k, you'd be a billionaire...?
(I'm just poking fun, but this is common here on the forum)
I have no idea what you're doing, your situation, or ANYTHING... so this is my horrible advice (take it for what it's worth):
1. Make your current business profitable before doing anything else. Don't run around putting down foundations. Finish the building.
2. Don't throw good money after bad.
3. Don't give away your promise of tomorrow for security today.
If you have any sales chops whatsoever, you can sell the product/service before you have it, collect purchase orders, and borrow money against those purchase orders for a very minimal amount of interest (a much more secure investment for a lender).
... but seeing as you haven't said what it is I'm guess it's some crazy hair-brained idea like an app or something revolutionary that's going to change the world overnight and if you JUST had 10k, you'd be a billionaire...?
(I'm just poking fun, but this is common here on the forum)
I have a current business but it really doesn’t turn enough profit to do this, I could seek investment for more stock for current business which may help as it does sell albeit sort of slowly.
I have no idea what you're doing, your situation, or ANYTHING... so this is my horrible advice (take it for what it's worth):
1. Make your current business profitable before doing anything else. Don't run around putting down foundations. Finish the building.
2. Don't throw good money after bad.
3. Don't give away your promise of tomorrow for security today.
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