What if you had an established retail business with a good and loyal customer base that was shrinking? Expand across the country with an ecommerce website.
For us, that seems to have worked pretty well. The trouble is as store traffic has shrunk and web store sales have replaced it, we have simply survived. Add in the current depression-ish economy in our town (Detroit), a weather related awful 2nd quarter, and you have a real case of the cash flow blues.
Something like $x incoming = $x outgoing - How do we get out of this?
We have a mortgage coming up and all we ever seem to find is a 5 yr term with a 15 yr amortization at about 8%. It seems like all we pay is interest, good for the bank, no cash flow relief that way for another 20 or 30 years!!
This is truly a small business, 2 owners, 4 employees, less than 1/2 m per/yr. We want to push that website like we know we could if only we had the money to do it.
Can't we sell our debt? People are lucky to find 2% interest in a CD these days. I haven't found anything very specific about selling company bonds in a business our size so I'm here to ask.
I'm not talking about the public bond market, that all sounds very complicated. I'm wondering if it's legal to do so privately.
Any suggestions or comments would be much appreciated.