Now, my recent endeavor is growing at an alarming rate. We cannot keep the business from not coming at us, and as I have discussed here a couple times in the short history of this blog is that cash flow is king.
Because of the increased business, we are hitting a critical stage where we must increase our working capital to hire, and train employees to continue to provide the service expected of our company.
So out of morbid curiosity, I’ve decided to venture into the unknown of secure capital, either through loans, angels or VC.
In my research and discovery stage for SBA loans I came across an article in from Stacy Perman from BusinessWeek online about how Lloyd Chapman, the founder and president of the American Small Business League (ASBL) has filed tow lawsuits against the SBA for contracting fraud.
Now I know every side has its own position, Lloyd is pretty clear about his position that the SBA, a government taxpayer funded operation is actually very hostile to small businesses, as a matter of fact Lloyd claims he believes the current administration will attempt to close the SBA in 2006.
Those are some pretty strong words. I don’t agree with Lloyd’s position and am actually very interested in hearing form other entrepreneurs that can support or oppose this position.
By the way, I’ll keep you informed of how we fund and approach our business. It should be a decent story to tell and hopefully I’ll get some feedback from each of you about your experiences in the fund raising process.
