Do you have existing investors? If so, they are the first place to go to. They should bridge you.
Alchemist can't direct invest on our own. Our funds can only do the first check, and our follow on fund is selective and typically invests when there is an already in place institutional lead. We can help connect you to investors if you fill this form out.
If you have $250K or more of trailing twelve month revenue, you might qualify for a credit line of non-dilutive loans from banks. Katinka at Alchemist can speak to you about this.
And Customer Receivables should accelerated for payment now for a discount on the full price
There are some geographies that will write up to $1m investments if the company commits to moving operations to those countries -- would you want to explore this? I believe in Saudi and Qatar they are doing this.
Cost Management
You May Be Well Past this, but in case this is helpful:
Use this as an opportunity to cut things you’ve wanted to but have delayed
Cutting Team: Decide who to (1) Lay Off; (2) Put On Temp Leave / Unpaid Work; (3) Retain
Renegotiate all existing costs – everything is now negotiable
Cash & Liquidity Mgmt Tips
Extend Payables
Ask Lenders to Defer Principal Payments for 3 quarters
Accelerate Receivables
Incentives to Pay Upfront (Discount, 6th month free, etc.)
Build weekly dashboards of cash (reconcile bank statements and checks to ensure no fraud)
Build detailed 13 week (1 quarter) and 26 week (2 quarter) cash forecasts and no if you will trigger any covenants