We are in our 2nd year of our video surveillance business and in need of cash flow in order to continue to grow. We've doubled our business revenue and keep thinking that we'll be able to move to the 'next level' of growth the next month but it still hasn't happened. We recently purchased our home w/ 100% financing in Dec. 2004 and we only have maybe $10-$15k in equity with prepayment penalties on 2 mortgages (we did an 80/20 totalling $415,000). We have a personal bankruptcy that will be 2 years discharged in May. Our FICO is in the mid 600's. Our business is just ready to burst, but we need cash flow for demos and inventory. Our installs are delayed by waiting for payment and parts. We install video surveillance systems for businesses. This industry is growing rapidly and studies show that it will be a booming industry come 2007. Our bank of 10 years will not extend a business line of credit due to our BK and we cannot obtain cash out refinancing as we have too little equity. Before I go thru the grueling process of applying with SBA, is there any type of line of credit or loan that can be extended to us? Ideally we'd like $50k but we'll take $20k. Any advice or direction or options would be much, much appreciated. Thank you. Tanya

A couple of things popped into my head:

1. check with your State's business development agency / department. There may be a program that can assist (particularily with the small amount that you are looking for).
2. not being sure what your sales structure is, I will mention this in case it applies. If you are doing work on credit, take a look at your aged receivables. I have, on occassion, met with small business owners who were scrambling for W/C. When we sat down and reviewed the financial situation, we found that if they were more conscience of collecting their receivables and or tightening up their terms that they could solve their W/C problems without taking on any dept.
3. if you haven't done so already, put together a decent business plan that maps out your company and the industry. Many business lenders will want to see what is going on.
4. although not always a great option, apply for a bunch of credit cards and finance your short term W/C needs with them.

cheers