November 30, 2008 PennVenn
I own several integrated businesses. Many of our customers deal with the public. Their sales have fallen off, and they are slowing down their payments to me. Even worse some of them are closing and sticking me with outstanding receiveables I'll never collect. Now my payables are backing up and I can't pay my vendors.
I'm late a couple of months on my rents. This is getting pretty difficult. Are there some things I could now to help the business? The business till has a core of customers that I know will be there after the recession is over. It isn't what it was but it will be even better in the future if I can get through this mess. Can anyone help, or have some specific ideas what I can do?
Make a comment.November 30, 2008 SmallGoodBiz
Business has fallen of by half. I sell horse equipment to trainers and stables. So the people that own the horses are buying less and so are my customers. But, I've been around for a long time and even at 1/2 the sales I'm still generating $25,000-$30,000 a month in purchases.
Here's my real problem I'm so far behind with my payables to vendors I can't get the new products to ship to my customers. I'm stuck between a rock and a hrd place. I've spoken to some of the vendors and they're nice - but I got nowhere. What can I do? I got a good business but it's all bound up!
Make a comment.November 29, 2008 NoMoreCredit
I don't have enough cash to pay vendors. I used to have a small credit line about $25k. About two weeks ago I got a form letter from my bank that said my line had been reduced by $10k.
I was already near the limit and now I have to pay back to the the bank the overage to my new limit. And now I don't know how to pay the vendors the little that was left on the credit line. What the hell do I do now?
Make a comment.November 28, 2008 Bill2387
I'm the poster boy for the financial crisi. We have about 9 employees at our internet startup. We're developing our product and things are going quite well. Possible big company customers are saying good things about what we're doing. All of the investment has come from Angels. Now they won't put up a dime.
I know we're able to get somewhere soom and egnerate sales and cash recipts. But what do I do in the meantime? I have some cash in the bank but not enough to get through months and months of this financial crisis.
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