biz2credit success stories of small business financing

Biz2credit Success Stories of Small Business Financing

Financing For Educational services:

Non profit school secure $ 2.5 M funding

A New York City non-profit school for

children with developmental issues

needed funding in order to expand

their facility


Comprehensive Kids Developmental School

Comprehensive Kids secure a $1M line of credit from a community bank.

The organization is also seeking an additional round of funding and has a commitment from a micro lender in the Biz2Credit network for another $500,000.

“Biz2Credit helps to comprehensive development school, secure a $1M line of credit at a time when it was very hard to get one.


Wholesale & Distribution:

Hitting the Road in Search of Small Business Financing

With harsh lending criteria to work with small, young businesses, big banks often present a challenge for small business borrowers

We wanted to find out who was lending, and Biz2Credit seemed to have the answers

So where did The WheelerShip turn? A quick online search for lending solutions for small businesses returned a link to Biz2Credit

Biz2Credit takes pride in being a support resource to small businesses in their quest for funding


Wholesale Distributor Increases Inventory with a Secured Line of Credit:

The Need:

The business owner needed financing to purchase excess stock and bridge the gap between the inventory purchase and payment.

Small Business Loan Solution:

After reviewing the business and personal financials of the entrepreneur, Biz2Credit recommended taking a line of credit against the strength of the business,accounts receivables and personal credit of the owner.

Results: Received a $200,000 line of credit of within 30 days Line provided at Prime Rate


Wholesale Distributor Increases Inventory with a Secured Line of Credit:

Benefits:

Strengthened future capital access for company Used financing to increase a dedicated sales agent Used financing to improve the company Web site and branding Improved positioning government contracts over $1 million a year

Distributors Lowers Financing cost and secures cash flow

To service large government contracts, the company must purchase inventories in bulk. However, receivables from the distribution business's 200 retail clients accounted for about 60 percent of the company's total revenue.

The distribution company wanted to ensure timely and secure payments from retail clients to maintain inventory purchasing power and cash flow stability.

Review and monitor business ratings and payment history of new and existing clients Publicize payment history and good standing of company to generate new business

Establish business credit that lowered the cost of financing by around 200 basis points

Success Stories of Small Business Financing

Wholesale Distribution Business Refinances an SBA Loan with a Traditional Loan:

Need In 2006, an entrepreneur used a 10-year SBA loan to purchase a small business

that distributes discount goods and beauty products

The business owner wanted to compensate for declining margins by adding clients and increasing sales volume

Entrepreneur needed extra inventory on hand to fill new orders quickly. Also, the 90-day payment cycle on these accounts stretched the working capital needs of the business.


Small Business Loan Solution: After reviewing the business and personal financials of the entrepreneur,

Biz2Credit recommended refinancing the SBA loan with a traditional loan and taking a line of credit against the strength of the business, accounts receivables and personal credit of the owner

Unlike a term loan, the entrepreneur only has to pay interest on the used amount of a line of credit


Benefits: Additional working capital to increase inventory

Ability to hire new dedicated sales agents

Ability to improve company website and visibility of the company

Increased access to credit

Thank youFor more stories Visit

http://www.biz2credit.com/

http://www.biz2credit.com/

biz2credit success stories of small business financing

Economy & Finance