This New York based production company needed funding to pay for upcoming projects.
We were able to turn this customer's previously rejected loan application into a winning proposal and help him secure a $1 million+ line of credit.
Our Customer: Sara Feldmann Sheehan, Owner, Working Pictures based in New York, NY Sara Feldmann Sheehan is an Executive Producer at Working Pictures, a full-service, New York-based production company. She also happens to be the co-owner of the company, along with her husband Bobby. Their clients range from networks such as NBC and TLC, to clients such as American Express, Pepsi, McDonalds, Reebok, and Las Vegas Tourism. Since they began in 1993, Working Pictures has directed and produced numerous award-winning television commercials, television series, documentaries, web series, television content and scripted feature films.
On paper, Sara and Working Pictures are the American Dream. Working Pictures has produced work for some of the biggest brands in the world and has won numerous awards. In fact, the company was doing so well that it was growing. Sara had booked several upcoming projects and needed working capital to complete the work.
Sara approached several banks about securing a line of credit and was denied each and every time. She wasn't getting a straight answer from the banks about the reasons for their declination and she was starting to worry that she would have to turn down one of her upcoming projects. That's when she turned to Biz2Credit.
Biz2Credit Loan Specialist: Shawn Cournoyer
Sara completed the free Biz2Credit application and was connected with Business Development Specialist Shawn Cournoyer. He initially sat down with Sara and Bobby in November 2012, just after they had been turned down for financing by several New York banks and were desperate for cash.
Shawn initially took their application to several of Biz2Credit's nationwide lending partners and received three declinations in a row. He followed up with each lender and was able to identify several "red flags" that were making Working Pictures seem like a risky investment.
Once the challenges were identified, Shawn was able to restructure Sara's loan application in order to help her secure a $1 million+ business line of credit. The funds have helped restructure the company debt and will provide working capital for expansion.
Sara was thrilled with her experience with Biz2Credit. "Our Biz2Credit experience was phenomenal. Shawn felt like a member of our own company - he was that committed to getting us the business loan we needed to grow. The entire loan application experience should have been stressful but Shawn and Biz2Credit made it easy. Small businesses in this country have such a hard time getting funding. We often feel ignored by the very people who are supposed to help. Biz2Credit made us feel like we had an advocate in our corner. It was so nice to have someone cheering for our success."
Sara was thrilled with her experience with Biz2Credit. "Our Biz2Credit experience was phenomenal. Shawn felt like a member of our own company - he was that committed to getting us the business loan we needed to grow.
"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."
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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.