Today, my wife reminded me about one of my former clients, a wonderful entrepreneur by the name of Erin who we were fortunate to help find a funding solution to launch her business. She has experienced so much recent success that stems from her funding experience that I want to share it. For years she had worked for a corporation and her role there was to teach new franchise owners how to properly run their restaurants. She was an absolute expert at doing it, and as the years passed it became clear to her that she needed to take advantage of the same opportunity to run her own business and live the independent life!
So she of course went to her bank and then to other banks and all of them essentially told her there was no way she would receive any funding to make her business dreams a reality. Her granddaughter dances with my daughter and when she heard that my team and I help entrepreneurs to creatively secure the most affordable financing possible she was very interested. So we took a look at what she was trying to accomplish and then realized that she needed to adjust her personal financial balance sheet and show more strength there. When you are a new business owner, your personal finances and credit make a huge difference in your funding opportunities. By helping Erin and her husband secure a creative 5 year term loan that they could then use to pay down some credit card balances and present a stronger personal finance base to lenders they now had a real chance at securing funding.
After her new finances were updated with the credit bureaus she was ready for the big “dance” so to speak, and next we guided her to the right lenders and she was able to secure a little over $100,000 in funding. She just secured a second location for her restaurant business, she is creating jobs for her employees, essentially creating an economy that was created due to funding solutions that she found, it’s not so much about our funding system, but rather that a funding solution always exists you just have to find it.