Hey everyone,
looking for advice only from the experienced sellers (Selling in the US Marketplace).
We are facing a serious cash challenge, most of our suppliers only take wire transfers, and Melio has been rejecting our transactions (not sure if it’s because of the category).
Recently met a funding party, but the deal wasn’t great (9% origination fee on top of interest, and funds release time was 10+ weeks).
Partner is based in Missouri, and we also spoke with a local bank, but they are asking for tons of documents and offering a small amount.
Interest rates are around 7 to 11%, which isn’t bad, but the process is pretty slow, and the amount isn’t big enough to justify the effort.
So I wanted to ask those who have scaled beyond $1M in a Year:
How are you managing cash flow and funding growth?
Appreciate any insights from sellers who’ve gone through this stage.
Please tag anyone you can think of who could be of help here.