Tips for applying for small business loans from OnDeck expert Andrea Gellert – Bizwomen
And going from that a major, publicly traded company to a startup of 100 people was a big change. At large companies, it takes a long time to feel the impact of what you do, she said. What difference does one person make at a large company? Since she came to OnDeck in 2012, Gellert has seen small businesses benefit from her work. She mentioned one restaurant in Mareille, Ill., that is popular among the local hunting and fishing crowd. The owner wanted a loan to upgrade his kitchen before hunting season but was turned down at his local bank.
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The company was experiencing difficulty in obtaining either a conventional bank loan or equipment financing and they needed to raise cash quickly so that they could purchase some new equipment for their business at an upcoming auction. Since time was of the essence, WAC used its alternative lending product and arranged the financing with one of its private lenders and closed the transaction in approximately ten days. The company now has the necessary capital to purchase much needed equipment for their business operations. The loan is secured by the principal of the company’s investment property on Nantucket as well as the equipment that the company is purchasing. WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients. You can learn more about WAC by taking a look at their website and you tube video at http://www.weclosecommercialloans.com and by contacting WAC’s principal, Michael M. Ciaburri at firstname.lastname@example.org or (203)605-4082. WAC maintains offices in both Guilford and Westport, Connecticut. You can now follow @worthavecapital on Twitter for the latest lending news.
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