An entrepreneur owns and operates a driving school in Queens, New York. The 12-year-old school provides training for a large number of immigrants in the New York area. With the immigrant population increasing and demand for driving education rising, the entrepreneur is opening a new office in New Jersey.
In need of financing to expand the enterprise, the entrepreneur wanted a quick and economical source of funding to open the new office.
Biz2Credit reviewed the business needs as well as the personal financial statement of the entrepreneur. Based on the estimated value of the company and two multifamily property units owned by the entrepreneur, Biz2Credit recommended taking an unsecured a line of credit. This reduced the required paperwork and accelerated the funding process. The line of credit would be issued against the goodwill of entrepreneur, his two multifamily units, his personal standing and the strength of the business.
The line of credit would be issued against the goodwill of entrepreneur, his two multifamily units, his personal standing and the strength of the business.
"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.