Dear fellow sellers,
I need advice or feedback.
I have a small Amazon business that I have been running since 2015, a business where I develop products that I sell on several Amazon marketplaces. My small business has generated $1 million in revenue since 2018.
Two years ago, I decided to sell my business due to health problems that I have been struggling with for years and that are not compatible with the long-term development of the company. So I met several potential buyers and we began a due diligence that lasted several months. I then chose the person who seemed best suited to continue this adventure. Unfortunately, nothing went as planned, I was naively manipulated, and this business turned into a complete fiasco, I was not paid and these malicious people sabotaged my business, they liquidated all my cash and sold ALL MY CHRISTMAS STOCK at a loss (stock in 4 regions).
In the end, i find out, these people did not have the funds to buy the business following the suspension of online business financing by Boopos
Today my business is in difficulty and in a critical situation, I am looking for quick financing options (stock financing, cash advance, commercial loan) to be able to produce more stock.
The business no longer has enough cash flow to produce enough stock, turnover is becoming slower and slower, the business is dying slowly, my best sellers are quickly running out and I am forced to wait to sell everything to be able to restock) In addition, to top it all off, Amazon has required us to repay UK VAT since January 1, 2021 (VAT that has already been paid to HMRC)
I have explored almost almost all the traditionals organizations that offer loans for FBA businesses (unfortunately I do not meet the eligibility criteria: non-resident / expatriate, no personal assets that can be put up as collateral, impossible to group the regions to reach the minimum sales...)
My question today is: are there any alternative financial solutions that you know of that are considered on a case-by-case basis and not through an electronic process, or are there any loans available from HMRC or guaranteed by HMRC for non-residents?
The positive thing is that this experience taught me a lot, I was certainly not prepared enough for this sale, how to sell a business or even how I manage the business. I am sure that in the end, I will be able to sell the company later for more than I initially hoped.
I have established a roadmap that should work, but for it to work, all the pieces of the puzzle must be assembled (including obtaining a loan)
Thank you for your answers
