A master franchise cell phone provider is based in Michigan with quarterly accounts receivables of over $500,000. The entrepreneur plans to roll out its services in New York to tap into immigrant community.
The master franchisee wanted to extend the business to New York and use a local bank to finance the expansion. The entrepreneur needed $300,000 to cover master franchisee fees, the cost of setting up the operations and recruiting sub franchisees. He also needed assistance enrolling local cell phone stores and local stores as sub franchisees.
Biz2Credit reviewed the financial statements of the franchise business as well as the personal financial statement of the entrepreneur. Based on the estimated value of the accounts receivables, Biz2Credit recommended that the company take a line of credit against the accounts receivables. The entrepreneur was also suggested to consolidate all the business banking and use an ACH facility to access larger lines of credit in the future. Biz2Credit connected the entrepreneur to a real estate broker and sub franchisees.
Biz2Credit connected the entrepreneur to a real estate broker and sub franchisees and Received funding in 30 days -- Master Franchisee
"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
"Dr. Gautam came across Biz2Credit after seeing multiple TV commercials and figured he'd give it a shot. After submitting the application and speaking with his Case Manager, he was funded $350,000 within 48 hours."
Dr. Ravindra Gautam
"Biz2Credit saved the day and 48 hours later, I had the keys to my new fitness studio in my hand," said Zadeh. "I don't know how Joe did what he did for me, but I'm thankful for his help. He even got me an easy repaymen