Company: Sports and Fitness
Traditional financing wasn’t available to them. They were opening a new location, so they needed all the money in advance of revenue (like a startup). They had to purchase all the equipment, hire staff, pay for things upfront whereas traditionally they would have to provide a steady revenue before getting financing.
LendSpark utilized the experience of their executive team to thoroughly evaluate the business model and growth potential of the company. We determined that the underlying market potential allowed us to craft a loan structure for optimal growth.
We were able to get them approved and give them options unlike anyone else. Now, because we worked with them and gave them great options, they continue to come back to us and we continue to work with them on various projects.