An entrepreneur owns an IT consulting company in New York that earned $700,000 in 2007. The business owner has recently moved to the United States from India.
An entrepreneur owns an IT consulting company in New York that earned $700,000 in 2007...
The owner needed $100,000 to service new projects. In the past, the entrepreneur self-funded expansion plans, but lengthening payment cycles created serious cash flow shortages. As a new immigrant to the US, the owner did not have a well-established personal credit history or trade lines, restricting access to debt financing.
After reviewing the business and personal financials of the entrepreneur, Biz2Credit helped the company to build their business credit with D&B (Duns and Bradstreet) and open new trade lines. Additionally, Biz2credit located a bank product that based the line of credit on the business goodwill and accounts receivables. Biz2Credit presented the case as a full doc to the lender with supporting financials like accounts receivables aging statement to strengthen the company's creditworthiness.
As Deepak said, "The speed was exceptional. I was able to get a loan in 24 hours, and I took ownership of the business the very next day."
"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