In this paper, the idea of an axially moving time-dependent beam model is briefly introduced. The nonlinear response of an axially moving beam is investigated. The effects of a time and spatial dependent tension depending on the external forces at the boundary and a tension dependent speed are highlighted, which gives a new model to study the parametric vibration of axially moving structures. This paper focuses on simultaneous resonant cases that are the principal parametric resonance of first mode and internal resonance of the first two modes. In general, the method of multiple scales can study nonlinear vibration of axially moving structures with homogeneous boundary conditions. Taking Kelvin viscoelastic constitutive relation into account, the inhomogeneous boundary conditions make the solvability conditions fail, which is also one of the highlights of this paper. In order to resolve this problem, the technique of the modified solvability conditions is employed. The influence of some parameters, such as material’s viscoelastic coefficients, viscous damping coefficients, and the axial tension fluctuation amplitudes, on the steady-state vibration responses is demonstrated by some numerical examples. Furthermore, the approximate analytical results are verified by using the differential quadrature method (DQM).