Industrial Revolution

I bought a business on April 1, 2005. I'll update the blog a few times a week to share some of my experiences.

Thursday, May 05, 2005

instant cash

My cash struggles were eased considerably today. I had hoped the bank would step in and offer me quick relief by increasing my line of credit. However, they didn't offer to provide much at all and it was going to take at least a couple of weeks. However, a savior appeared! For a 1% fee he purchased a receivable due to me in about 2-3 weeks. He'll make a tidy little sum for a very short term loan. At the same time, the cash injection gets me cleanly through another few weeks. Various receivable should start to arrive and provide a longer-term solution. Most importantly, I can make payroll next week! A win/win solution!

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