My site has seasonal sales. The season ends in a few weeks :(
I'm looking to obtain finance to a) help with cashflow during the quiet period, b) to allow me to spend on marketing to try and boost sales during the winter.
What I usually do off season is to return to IT contracting. But have you seen the state of the UK market recently? I'd earn more window cleaning. Seriously.
So I'm thinking of getting a small business loan which its mostly for maintaining cashflow whilst sales plummet by a 1/5th, but also to finance an effective marketing campaign.
I dont advertise and rely on word of mouth and repeat customers for income. What I want to do is to sponsor events related to the site theme. This is an excellent way of getting the message across but costs £500-£1000 a shot. I'd like to run a series of these through the winter months so I'm looking for a good few £K.
I don't think my bank would oblige. I asked them for an increased overdraft a while ago but they were not too happy.
So whats the options? What kind of rates, deals, are available and must I sell my soul for collateral?
I don't know if getting help from the family is a good idea. I like to keep business and personal seperate.