Bridging the Gap - A Cash-Flow Solution from Biz2Credit
A developer of digital retailing solutions was caught short on funds after expenditures at the Consumers Electronics Show (CES), the premier trade show to display new technology products, exceeded budget expectations. Facing a payroll with insufficient cash on hand, the developer needed a fast loan. Biz2Credit arranged a $40,000 merchant advance loan in just 3 weeks - without a personal guarantee.
The software developer designs consumer-facing solutions for a variety of retail industries, counting consumer giants such as Best Buy, AT&T and Ethan Allen among its high-profile clients. Specializing in interactive kiosks, tablet apps, retail signage, and shopper queuing systems, the company's presence at the show was critical for placing his products in front of potential purchasers.
Costs associated with the trade show were significant. The company was short on cash, but needed to fund its next payroll. With only weeks to find funding, the company contacted Biz2Credit, which was able to process the borrower's application, secure a lender, and close the merchant advance loan in time to meet the short deadline for its payroll obligation.
The software developer's experience with Biz2Credit was tremendously positive with clear results. He's withdrawn a pending application with Wells Fargo in order to arrange other needed financing through Biz2Credit.
Finding solutions in today's tough market: a common goal of our software developer and Biz2Credit.
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