Unstoppable: How Just-in-Time Funding Gave This Salon Owner Her Dream

Lease signed, keys to her new Ayurvedic day spa in hand, Jyoti Sharma was ready. But the banks weren't.

They were saying yes - but that it would take them 2-3 months to get her funds.

The Ayurvedic spa was Sharma's dream. She had dedicated so much of her life to Ayurveda already, completing a doctorate in this Eastern healing science.

In her home country of India, in addition to working as a teacher, Sharma had already been a small business owner; she'd run a company that trained people in textile and fashion design. When she moved to New York City in 2000, Sharma couldn't find work in that area but had always been passionate about all things beauty, so she earned a cosmetology license and opened her first salon right out of school, in March of 2001. She figured if things didn't work out after a year, she'd go back to teaching.

A born entrepreneur, Sharma liked being her own boss. And she knew that her schedule wouldn't be flexible enough to work for anyone else once she gave birth to her daughter. "I'm just going to be full-time mom and full-time business," she decided.

Business was good - good enough to open 13 locations - and though she was affected by the 2008 recession, she cut her losses, sold some locations, and persevered.

So by the time Sharma called the bank about her Ayurvedic spa concept - her dream - she'd already been in business for 16 years, quite handily navigating the ups and downs of entrepreneurship. She had a good sense of what she needed, as well as when she needed it. She was in the middle of renovating one of her salon locations. The landlord had given her the store's keys much sooner than she'd expected; the entire plaza was under construction, and she'd expected a 6-month wait until her store was ready . . . not a 2-week wait. She did not want to lose 2-3 months' worth of income waiting around for the bank.

Luckily, while waiting for the bank Sharma had seen Biz2Credit's TV ads. She did some research, and when she saw the company garnering so many positive reviews, she thought, "Let me give you guys a call, see if it's much simpler than the bank."

She was relieved to find that it was much simpler than what she was familiar with. Speaking with loan specialists Adam and Joe gave her a clear picture. "They told me straight, they need these documents, and this is how soon they can fund me."

She ran the numbers and realized that with funding from Biz2Credit, she'd be able to open her spa when she wanted to: right now, not months down the line. She noted that Biz2Credit was offering her access to credit with the same rate as the bank, but with no wait and less paperwork.

In one year, Sharma paid back nearly all of that line of credit.

"Biz2Credit was the biggest, biggest part of my success here. My lease had started already, [due to the unexpected lease start] my opening costs were double. I had saved to open the spa, but [it wasn't enough]. Biz2Credit came in like a lifesaver," she said.

She's constantly referring others in her business community to Biz2Credit, and Sharma recently came back to Biz2Credit to request another round of funding. "I always tell [funding specialist] Adam, "These are the people who might be calling you. Give them what you gave me: easy money."

And that new funding? Sharma needs to renovate 2 of her locations since it's been 20 years, but her bigger project for the next year or so is to create an Ayurvedic resort where people can come and stay for a few days. To Biz2Credit she says, "I'm looking forward to working together again."