An entrepreneur runs a car service company in Long Island, New York. The company has a $100,000 line of credit from a bank.
The owner wanted to relocate the office and rapidly expand the fleet of high-end vehicles and limousines. Hoping to reduce parking expenses, the owner found a building in New York City with ample parking facilities for $1,000,000. The owner needed an additional $150,000 to expand the business.
Biz2Credit reviewed the business and personal financials and recommended purchasing the new facility as a personal real estate investment. In doing so the owner would realize substantial gains over his previous parking and office arrangement in Long Island. Located near midtown Manhattan, the property included two family living spaces, mixed use office space, and parking for over 30 cars. The facility would generate rental income for the owner and reduce business expenses for parking and office space. The increased profitability strengthened the case for an additional line of credit. Biz2Credit structured a deal with the new lender to take a second lien on the newly purchased commercial facility.
Biz2Credit structured a deal with the new lender to take a second lien on the newly purchased commercial facility.
"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."
Arco Electrical Contractors
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.