1300 Division Road, Suite 305 West Warwick, RI 02893, USA
888-982-8380

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Gymnastics School

Gymnastics school, New Jersey

Tumbling into debt

This gymnastics school was underwater from mounting MCA loan fees. We helped them get a grip on debt.

This client tried to obtain small business loans through reputable local and regional financial institutions. When the banks were unable to understand the school’s financials, our client resorted to MCA loans. Since the school was funded by monthly membership fees, the cash flow ebbed and flowed. To cover the daily MCA payments and avoid defaults, the school had to retain some of the advance proceeds. As such, they were unable to get the full intended use of their funds.

SBA Loan Program obtained a $150k loan for the school and a second $150k small business loan for their affiliate business. This allowed both businesses to clean up their balance sheets and develop a cash reserve. The reserve enabled the business to have cash on hand for when they needed it and helped them to avoid future MCA loans.

1
Provided two necessary loans.
2
Developed a strategy to help the business during slow periods.
3
Worked out a plan to avoid future MCA loans.

ARE YOU:

  • Looking for a manageable loan without exorbitant fees and hidden costs?
  • Drowning in debt?
  • Need money quick to fund a critical project?
Our borrowers were, too.

We can help.

INQUIRE HERE

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