Biz2Credit Helps IT Consulting Firm Make Several Acquisitions
Ram Ajjarapu, President of consulting firm Global Information Technology, knew from the start that he was meant to be an entrepreneur.
"I have only worked for two other employers besides myself," says Ajjarapu, "After 6 months as a Consultant in Corporate America, I left and started my own firm. I am not the guy to work for someone else. "
A Biz2Credit client for the past three years, Global Information Technology has been in business for over twenty-two years, expanding beyond New York City to Rhode Island, New Jersey, Virginia, Atlanta, and Florida. The company pulled in revenue of $1.2 Million in 2016.
Despite his longevity in the business and Global Information Technology's rapid growth, Ajjarapu is no stranger to the financial difficulties entrepreneurs face when getting their businesses off the ground.
"There have been several situations where we were presented with time-sensitive growth opportunities, and we had to move quickly," says Ajjarapu. "I knew that utilizing a traditional lender such as a bank would have taken too long for our timeframe. That's when I turned to Biz2Credit."
Initially, Biz2Credit was able to provide financing of $3 Million on a 3 year term to fund Global Information Technology's acquisition of another IT company, closing within 30 days. One year later, however, Biz2Credit further solidified its partnership with Ajjarapu by providing a $4 Million business advance, funding the acquisition of multiple mail-order pharmacies out of bankruptcy.
"I was quite impressed with Biz2Credit's expediency," says Ajjarapu. "In addition to being fast, Senior Funding Specialist Kamal was exceptional. I would give him an 11 out of 10 when it comes to customer service."
Asked if he would refer Biz2Credit to a friend or colleague, Ajjarapu is enthusiastic.
"Absolutely. Biz2Credit helped to bridge the gap between my business and the necessary financing. They were able to quickly seal the deal, time and again."