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
"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.