Transportation company, Texas
Driving towards disaster
MCA loans and credit card debt plagued this transportation company. Read how we re-routed them…
When this client came to us for a small business loan, they were $105k in debt from MCA loans and business credit cards. Moreover, the business owner had an issue in his past that he thought might prohibit him from acquiring commercial funding.
SBA Loan Program guided the client through the process of presenting the SBA with the required information. Ultimately, the SBA cleared the owner’s background issue. Since funding didn’t happen as quick as usual, we obtained a short-term loan (bridge financing) to help carry the business through and soften the impact of their payment obligations. This short-term loan had deferred payments, so the business didn’t add to their payment obligations.