Started my LLC January 1st 2023. Switched the field of the business in probably March. It is a e-commerce streetwear brand. It’s done $60k in revenue so far off of 2 drops. Would be a lot more however due to bumps in road with manufacturing and fulfillment, it has been 2 drops instead of drop every month which would of had it at like 6 or 7 drops. It should now be on track to drop every 1.5 months and do $30-$50k per drop. My question is funding. What is the best option to try and get funding? I hav applied for a few grants and small loans, Shopify capital, amex gold etc. deadlined for all due to inconsistent revenue and too new of a business. my credit is is 690 (recently started building) and I’m just approaching the year mark of the business. Should I apply for different business CCs? Business lines of credit? Any advice would be appreciated
You’re kind of in purgatory for bank lending as SBA and small business lenders will generally want to see a filed tax return showing profits. Often it’s easier to get startup funding then obtain funding at your stage.
There are almost unlimited short-term non-bank financing companies but the cost of capital is eye watering.