An entrepreneur owns and operates a heating oil distribution company based in Connecticut. Service demand rises during the winter months.
To meet the seasonal demand, the owner needs financing to increase payroll and inventory.
After reviewing the business and personal financials of the entrepreneur, Biz2Credit recommended taking an unsecured line of credit. Unlike a term loan, a line of credit gave the owner the ability to pay interest only on the amount of money used. The owner could increase revenues without incurring extra interest payments if demand for services fell short of expectations. Biz2Credit surveyed various financial options and targeted two lending institutions. Biz2credit insured that the line of credit available will grow with the business.
Owner received a line of credit of $250,000 within 20 days
"Biz2Credit was the biggest, biggest part of my success here. Biz2Credit came in like a lifesaver," she said
"I'd give Biz2Credit a 15 out of 10. Joe, my funding specialist, does a great job. He's always on point and really understands my business. Every time I've worked with him he's come through for me in a big way
"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