Hello, my name is Mike and I’m writing this letter with great trepidation. I’ve come to a point where I just don’t know where to find answers to my company’s financial entanglement that don’t involve putting up money.
I have been a hard-working individual all my life, starting at age 13. I lied about my age to get my first job at a Chick-fil-a. Work has seemingly always been at the forefront since we didn’t have too much. Along the way, I forgot to live a non-work life. Don’t get me wrong, there are moments and they’re cherished, but it hit me eight years ago at a High School 40th birthday reunion when one of my classmates I didn’t know all too well said to me that he’d wished we gotten to hang out more because I was a cool guy, but “you were always working”. Yeah, no prom, no dances, no football games, no dating. It’s stuck with me ever since. While I try not to dwell on what I missed I want to make sure my son is able to enjoy his life.
I started my print/media company around seven years ago, with an unemployment check of about $600. No loans, no financing, no knowledge of how to do what I was about to do, only the knowledge that if I can’t find a job I have to create my own and jump in. I own nothing, so banks or even the SBA weren’t any help unless I had something of value, it was frustrating. I had encouragement from multiple clients I had dealt with from my previous employers. They believed in me, liked my personal attention to their work and wanted me to be there for them.
I have learned a lot about business since then and run a pretty tight ship. I never spend unless there is a need. I always find the best balance I can between quality and price. I have a great reputation.
What I don’t have is and advertising budget, a payroll budget to hire properly or a steady cash flow that allows me to stay, if not ahead of, but at least on top of my bills. Here is where I need help. While I understand that most folks on here are just asking for cash, which is great, I just want to be trusted to get a large loan to allow me to get my business affairs streamlined and in proper order so I can grow. I have some immediate needs, rent is one, that are falling behind if something doesn’t change soon.
Another issue is personal, I need to move out of the ex-wife’s home for mine and my son’s mental health. The Mom has depression issues and vices that I don’t want my son to have to see or deal with, it’s been hard on him. The Mother just doesn’t want to be a Mom. I’ve just been too broke to find a solution.
I work primarily alone to save money. I have two part-time employees, one who is skilled but only works on Saturdays and the other, a homeless man that I call in to help when I have time consuming work to handle. They both earn more than I do.
Ideally, I would like to see $80,000. The amount I’m asking for is to handle all debtors, cover payroll for at least one full time employee for first year and have some working capital cash flow to prevent low balance problems at critical times. I have never counted on anyone to solve my problems, I promise to continue to work just as hard as ever.
I have goals as a business to be able to give back to my community. An example is in the form of a cash donation for scholarship winning at some of the beauty pageants that utilize my services. This allows me to pay forward to a young lady while also providing an added bonus to my client’s prize package.
I was always generous and giving when I was younger and never saved for myself. Now that I’m older I realize not many will help me. Consider it a lesson learned. I am teaching my son that it’s great to be giving but make sure you have your own stability first…something I wish I was taught.
I’ve always made do with what I had and never asked for help, partly because of pride, partly because of shame. I just didn’t want to be thought of as a beggar. Yet here I am, forgive me. I just don’t know what else to do. So, I’m testing the “it doesn’t hurt to ask” theory for a change.
I’ve done my best to try to get to the point without writing a novel to bore anyone. Thank you for taking the time to read and especially a big thank you for any assistance anyone can give.
(The image included is of my most immediate/critical issue. 2 months rent & xerox bill that has fallen behind. I have receivables due but “check is in the mail” waiting has been excruciatingly frustrating and slow.)