Biz2Credit helps Malik & Associates, P.C. to secure a total of $950,000 in loans

Background

Biz2Credit helped Malik & Associates, P.C., a small law firm, to secure financing for $625,000 in December 2009 and then obtain an additional $225,000 to cover the costs of her new immigration law portal that she developed to expand her business.

Issue

Even though Pankaj Malik had excellent credit, she was not able to obtain a loan on her own. She used the financing secured with the help of Biz2Credit to pay off her high cost debt, maintain the funding necessary for adequate working capital, and support her marketing and the hiring of four new employees.

Solution

Biz2Credit helped her first get a $625,000 loan from Savoy Bank, then secured junior debt of $225,000 through Seedco Financial, thereby enabling Malik & Associates to create an additional three jobs and divert a greater budget towards marketing.

Results

Through securing this loan, Malik & Associates has been able to create a total of 10 jobs and expand her business.