Long story short, I’m just starting a raise now, but my cofounder and I need to draw some kind of salary – around $2000/month would be doable – for the time being. We’ve been working hard on the company for a year, and have investors interested, but we need a month or two of extra runway to pay the bills until we close the round (by thanksgiving). To be clear, it’s just the two of us, and we are only trying to pay ourselves enough to cover basic living expenses in this pretty expensive city.
We could open a line of credit or take out a small business loan or we could try to find part time gigs. I’m worried that because the period of time is so short the time and effort put into going part time work on something else when finding funding is such a time intensive job might not be worth it, but if it would really undermine our funding case, then of course we will do it.
I have relationships with a few of the investors in our round such that I can ask their opionons, but we’ll also need other investors, so I thought I’d ask here to get more opinions.
Thank you!