Where do you get a quick dirty (high interest but not murder interest) business loan in US for a Delaware Corp-C? Whatever I google, I get only the big banks / capchase etc which are all RMR driven and require substantial credits check.
For me it’s:
- Corp-C has no runway
- Majority Founder is not in USA (so no possibility for private credit check)
- up to 10k RMR
- Zero runway (Founder that is me, is already homeless, second person in company not paid 1 month)
- Really good AI product in market with several proposals on the table
We need like $50k to survive a couple of month and close the investor deals / proposals we have on the table and we can then head towards series A but at the moment because of some random events happening, the situation looks nightmarish.
Instead of digging a deeper hole, you can try cashing in your goodwill with existing clients and selling them on a yearly subscription or product with delayed fullfilment.
The first thing on your mind when your company needs money should not be “how can I get additional funding”, it should be "how can the company make do with what it has.
If you are a single-member corporation you have two roles, as an owner and as a manager. As a manager, it is not within your duties or purview to increase funding, think of yourself as two different people. This will also help you avoid piercing the corporate veil in general.