How Gauntlett Eldemire Got Funding for His Laundry Business
"During the past five years, I’ve worked with Biz2Credit to get loans before. I felt like I was in good hands when I work with them,” said Eldemire, a former star outfielder at Ohio University who played minor league baseball with the Lakewood Blue Claues of the Phillies organization.
“I was working with a local bank, but when the coronavirus hit, they were overwhelmed by the volume. I know I could count on Biz2Credit,” Eldemire, who lives in a Cleveland suburb. “I was in the process of getting a new laundromat. They took over the loan application and came through for me.”
Eldemire’s new location in Garfield Heights, Ohio, is four times bigger than his previous one just a mile down the road. He now owns three coin-laundry businesses and hopes to keep expanding.
His relationship with Biz2Credit began a few years ago when he needed a bridge loan for $50,000 to cover expense until a $287,000 SBA loan that he applied for came through.
“Biz2Credit believed in me,” Eldemire said. “They’ve gotten me small bridge loans, as well as loans for bigger dollars. I was in the middle of construction and ran into delays and overruns.”
“Biz2Credit always comes through in the clutch,” the former pro baseball player said.
Check out this in-depth guide from Biz2Credit explaining how a bridge loan can help you take your small business to the next step.