Our client operated their automotive business with a business partner for two years, but it came time to make a change. They had an opportunity to buy out their partner and become the sole owner of the business. Yet, when they started reviewing their financials, our client found that they wouldn’t be able to go through with the purchase without jeopardizing their cash flow.
They reached out to their bank to see their options. Their time in business, along with other much-needed requirements, wasn’t significant enough to meet the bank’s qualifications, so they researched alternative lenders who could help them meet their goals. After filling out a few application forms, there was “no way” our client could secure the funds they needed without spending too much time away from their business. Fortunately, someone recommended that they reach out to National Business Capital to see if we could help them streamline the process.
How National Helped
Our team received their application and reached out within minutes to learn more about their opportunity. Once the call was done, the Business Finance Advisor that worked with the client leveraged our 75+ lender marketplace to find a few options that could meet their specific circumstances, reaching an approval only 3 days later. We reviewed all of their opportunities in depth with the client, and, in the end, we secured a $325,000 term loan to support their growth.
Where They Are Today
Our client bought out their partner and used the remaining funds as working capital. They hired additional employees and were able to increase the number of bays in their facility as well. The new ownership and increased financial strength project to increase their revenue to the point where they can open additional locations, with each one set to double their revenue after they’ve opened.
Every new location comes with new jobs, too.
An Unexpected Opportunity
One of our client’s main competitors was selling its equipment at a significant discount to liquidate the company. Our client wanted to take advantage of the opportunity in order to grow and take on more business.
A Smarter & Faster SBA Loan Process
Our team helped a client secure a $2,187,000 SBA loan and a $400,000 revolving line of credit to support their purchase of an existing, profitable business owned by a competitor. After the transfer of ownership, the client cornered his local market, projecting a $5.5 million increase in revenue.
Subordinated Funding for a Multi-Million Dollar Partner Buyout
National’s team secured $3.5 million in revenue-based financing and a $1 million term loan for a fast-growing entrepreneur, all within one week of receiving their application. Our client bought out their partners, gained 100% control of their thriving business, and stocked up on inventory for the new year, which projects a 25% boost in their annual revenue year over year.