Textile trade company uses $100,000 line of credit to cover cash crunch Background A textile trading company has been in business for 3 years. From 2006 to 2007, the company's revenue grew by over 400 percent. Unfortunately, the current economic recession has hurt the company's cash flow. To service orders and manage costs, the business owner has added new product lines and started importing in bulk. The Need With a limited credit history, the business owner only qualified for high-cost private loans. The entrepreneur wanted to refinance the expensive private loans with a line of credit from a bank to service the existing demand and cope with the short-term cash crunch. Financing Solution After reviewing the business challenges and financials of the company, Biz2Credit recommended consolidating the company's business banking, shortening the receivables and implementing a structured account payable plan to improve cash flow. This helped the company to improve short-term cash flow and made the bank feel more comfortable about extending a larger line of credit. Results Received $100,000 line of credit in 15 days Strengthened case to increase line by another $50,000 over the next 2 months Stream-lined the accounts receivables and accounts payable cycle Benefits Received line of credit at prime plus 2 Improved business creditworthiness and ability to increase line in 2 months Find out what you can borrow, in seconds Funding Amount You NeedLess than $15,000$15,000 - $29,999$30,000 - $44,999$45,000 - $74,999$75,000 - $149,999$150,000 - $300,000More than $300,000 Time in Business0 - 6 months7 - 12 months1 - 2 years2 - 5 years5+ years Your Annual RevenueLess than $50,000$50,000 - $99,999$100,000 - $149,999$150,000 - $299,999$300,000 - $499,999$500,000 - $999,999$1 million - $5 millionMore than $5 million Your Credit ScoreExcellent (720+)Good (660-720)Fair (600-659)Average (550-599)Poor (<550) How did you hear about us? (Optional) Referral TV Search Other By submitting this information and registering with Biz2Credit Inc., you accept and agree to Biz2Credit's Term of Service and Privacy Policy By Industry You can select success stories as per the desired industry from below Business ExpansionCommercial LoanConstruction and Real EstateEducational ServicesFinance and InsuranceFranchiseInventory FinancingManufacturingMedicalRefinancingRetailSecured Line of CreditServicesStarting a BusinessTechnology, Media, CommunicationWholesale and Distribution GET INSTANT LOAN MATCHES Register quickly and easily to view all of your funding options. We also provide a dedicated case manager to assist you through the entire lending process. Get Started
