United Capital Source’s #1 goal is customer satisfaction. We pride ourselves on delivering a great client experience. Below is a recent success story from one of our clients.
Matthew C., owner of an electrical contracting company
THE OPPORTUNITY AND THE CHALLENGE
Matthew had a time sensitive opportunity. A new job required him to lay out funds for parts and labor upfront. Like most construction subcontractors, he received payments for completed jobs on a net 30 basis. That put him in a bit of a cash flow squeeze. It also meant that he wouldn’t be seeing any revenue from this job for at least a couple of months.
Matthew needed a small business loan of $15,000 to avoid paying out of pocket for the materials and labor costs this new job demanded. He needed it fast to make good on this job and take care of his workers. He also needed it on payment terms that wouldn’t mess with his ongoing cash flow or make his bookkeeper crazy.
Matthew got everything started off great from his first phone call. He spoke with Jake, one of our account executives. Jake says, “On our first phone call, Matthew was very forthright and honest with me. He explained to me what he needed for his business and right away I knew we were a good outlet.”
Even better – Matthew came prepared. According to Jake, Matthew “provided all documents needed upfront which gave me the ability to expedite the process for him.” Underwriting can sometimes take up to 24 hours to complete. But in Matthew’s case, he was already accessing the money from his unsecured business loan within 24 hours of the first call to UCS.
Not only was Matthew quickly approved for the full $15,000 he requested, he got a weekly repayment plan that worked for his business. Jake also set Matthew up with some pre-payment discounts that would save him money on interest if he paid back the business loan back before the specified term.
Matthew got the money he needed to service this new job and keep his people paid, and on terms that support his business. Our process worked so well in helping Matthew protect his cash flow while moving his business forward, he’s ready to use UCS again next time he needs to pay for materials and labor upfront.
Jake explains, “When I got back to Matthew with amazing news that his business was approved for the amount requested, I could hear how excited and happy he was to finally start building a relationship with an unsecured financing company. He just recently reached out to me letting me know of an upcoming job, and that he will be contacting me in the near future to fund his next inventory purchase.”
WHAT HE SAID
“I worked with Jake Canino. He was great to work with. Cared about my time, easy to talk to and took care of business FAST!Talked to Jake in the morning and the deal was done just a few hours later. I will definitely be calling him again and would highly recommend UCS. Thanks Jake!”
At United Capital Source, we have provided over $500 million of small business loans to thousands of businesses from a wide range of industries. As banks continue to make it difficult for businesses to source business funding quickly, we provide you with the cash you need to operate your business.