Biz2Credit Helps Seasonal Small Business with Employee Expansion
Frank Prestia, owner of Pennsylvania public accounting firm Prestia Consulting, doesn't beat around the bush when it comes to small business lending.
"I've had friends and family try to go the traditional lender route such as through banks, and they either are denied or it takes a good 3 to 4 months before they receive a small business loan," says Prestia. "As a seasonal small business owner, I don't really have margin for error. I need to get it done, and quickly. That's why I turned to Biz2Credit."
Having provided accounting services for both personal and business taxes for the past 17 years, Prestia knows all about the ebbs and flows of cash flows!
"Our big seasons are February to April for personal taxes, and July to September for business taxes. As a seasonal business, proper handling of our finances is at the top of our priority list."
Prestia has been a Biz2Credit client since 2016. Even in this relatively short amount of time, Biz2Credit's partnership with his firm has already allowed him to take on larger clients and focus on honing his area of expertise.
"I was spending a lot of time on administrative tasks," explains Prestia. "Biz2Credit has really allowed me to hire new personnel. I was putting in 85-90 hour weeks alone, and that was just not sustainable. Since beginning our partnership I have been able to hire two more people, affording us the ability to take on close to 130 clients."
When asked if he looked into other small business loan providers, Prestia laughs.
"I've tried the traditional route, only once," says Prestia. "I came in $90 short of the minimum amount needed because of an off-season month, but the previous three months had seen an extraordinary boost. I was still denied. I said, 'You're telling me that the extra $40K in one month doesn't offset the $90?' Unbelievable!"
In addition to the financial help he received from Biz2Credit, Prestia just downright enjoyed working with Funding Specialist Dominic.
"He's efficient, cuts to the chase, and gets the job done. On top of all that, he's really just a good guy!"
Prestia followed what many Accountants do straight out of college - work for a big firm for a few years, get your experience, and then start your own practice. However, he does have a valuable piece of advice for CPA's looking to make the same transition.
"Don't waste time with lenders that require you to submit tons of paperwork, and then wait 30 days before telling you they need even more information," says Prestia. "Biz2Credit gets the ball rolling. They prevent those looking for small business loans from getting frustrated and giving up on their dreams, simply because they cannot access the funds."
When asked how likely it would be that he would refer a friend or colleague to Biz2Credit, Verma gives it a 100%. "If you are looking for a CRE Bridge Loan, go with Biz2Credit," he says. "It's a great company, and the team moves fast to get you the funds you need.
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