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I have a startup and was set to begin generating income in about two weeks, but I needed to wait for my investors to make the transfer. Today, one of my investors backed out, and I’m crushed. I was relying on a friends and family round because we’re still pre-revenue, but now I have to find angel investors, and I’m not sure where to start—especially with a budget of $0. I’ve put everything I have into this app, completely over-leveraged myself, and now I need to close this round before September 1st. I’ve made financial commitments that I wasn’t prepared to handle if the raise fell through.
Right now, I have $0, no website, and a product that I can only sell to businesses. The selling part I can handle—that’s my strength—but I don’t have the resources to get the basics in place to make that happen. Since I’ve been working on this project, I haven’t had any income, so I can’t take out a personal loan. The only unsecured loan available is a business startup loan, which requires a 700 credit score, and I’m just 6 points shy. I can’t find a co-signer, and I desperately need to secure angel investors.
Any advice you could offer would be greatly appreciated.
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- 5 months ago
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