An entrepreneur owns and operates a manufacturing and trading company in the North East with growing annual revenues around $2 million.
With increasing service demand, the company needs a cost effective and flexible solution to open a new warehouse, make capital improvements, add inventory and hire more staff.
To increase sales, the entrepreneur was looking to finance new marketing campaigns, while also maintaining excess inventory to service the new business
After reviewing the financials of the business owner and manufacturing company, Biz2Credit located a particular bank product which secured a line of credit against business inventory and goodwill. The line of credit gave the owner the flexibility to draw out money as needed and only pay interest on the used portion.
Manufacturer Services received a line of credit of $300,000 within 15 days
"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