My Favorite Business Funding Success Story Is About My First Client
How Alternative Lenders Help Business Owners Overcome Credit Challenges and Seize Growth Opportunities
Since getting back into the business, my favorite business funding success story is actually about my very first client.
His bank wouldn't approve the financing he needed because of his credit score, which had been negatively impacted by identity theft—even though he had successfully operated his business for more than 20 years.
After reviewing his previous six months of bank statements, we determined that his business generated more than enough revenue to repay the loan. This is where an alternative capital lender can make all the difference. A credit score isn't always the final word when it comes to business financing, and this is a perfect example of how revenue-based funding can provide a solution.
His unsecured funding request for $125,000 was approved.
The timing was critical. As an electrical contractor, he needed working capital to purchase materials and hire additional staff for a large upcoming contract. Because he wouldn't receive payment until the project was completed, he needed access to funding to bridge the gap.
That's exactly what we do. We help business owners secure the working capital they need—quickly—so they can take advantage of growth opportunities instead of having to turn them away.
Sondra Carpenter
Carpenter Financial Services
Independent Business Loan Broker
