They had four owners which is always a challenge. Then, adding more to the challenge was the ownership didn’t match the paper work. The company had a substantial amount of loss over 10 years’ time. They had started to see growth, but their bank statements still weren’t up to par for traditional financing options.
Our team evaluated their potential for growth for the company and determined the potential in them. We crafted a loan structure that optimized their growth.
We were still able to approve financing. Since then, the customer has come back for additional financing for equipment.