Silicon Alley Group, an Iselin, NJ-based technology company, moves into 2012 with aggressive goals for their company's growth. As they seek to expand further into the government sector, company vice president Suresh Nayak hopes to:
As Mr. Nayak explains, achieving these goals and expanding the scope of the company costs money, "getting the funding, having the breathing room to expand, that is the biggest challenge we face every day."
Founded in 2003, Silicon Alley Group has made slow and steady progress providing staffing, project management and programming consulting services to its commercial and government sector clients. Their quick response time, quality personnel and ability to deliver projects on time and within budget have allowed them to thrive in a tough economy.
Mr. Nayak explains, however, that since the 2008 meltdown of the economy the resulting credit crunch has made expansion increasingly difficult and finding funding a nightmare. "The big banks got everything but there is nothing for the small businesses. We run from bank to bank but they're not willing to lend."
Silicon Alley Group turned to Biz2Credit for assistance in finding the financing it needed to meet its aggressive expansion goals. Mr. Nayak, said, "Biz2Credit's competence, due diligence, and strong relationship with lender CitiBank resulted in a business expansion loan of $400,000."
"With this money, Silicon Alley Group can continue to compete and expand in this environment of cutting edge technology," Mr. Nayak added. "That's why I came to this country, this is the land of opportunity."
Mr. Nayak, said, "Biz2Credit's competence, due diligence, and strong relationship with lender CitiBank resulted in a business expansion loan of $400,000."
"Vamsi Yaramaka, owner of a group of gas stations in PA, secured quick funding through Biz2Credit for business expansion. Timely funding helped him revamp his business to meet growing customer demands."
"I had a backlog of work for the past 4-5 years," said Angel. "The jobs weren't breaking. With that the cash flow slowed down and I fell behind on my bills."
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Navneet got in touch with the funding specialists at Biz2Credit and worked with his case manager to understand the best way to secure inventory financing. His case manager was able to get him an offer the next day.