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.
"The turnaround time for funding was quick with Biz2Credit," Raza told us. "As soon as they got our information we had a decision - there was no waiting period like I experienced with other lenders."
Raza and David Bolos
"Dr. Gautam came across Biz2Credit after seeing multiple TV commercials and figured he'd give it a shot. After submitting the application and speaking with his Case Manager, he was funded $350,000 within 48 hours."
Dr. Ravindra Gautam
"Biz2Credit saved the day and 48 hours later, I had the keys to my new fitness studio in my hand," said Zadeh. "I don't know how Joe did what he did for me, but I'm thankful for his help. He even got me an easy repaymen