Fontella W., Owner of a Retail Shop
The Oppurtunity and the Challenge
Fontella has a young retail shop that’s on the move. Barely a year old and demand was booming. Very exciting. Also very challenging for a new business to find the working capital to keep up with the demand. This was Fontella’s predicament.
She’d already worked with several finance companies and unfortunately was not given any approvals. Instead she got the runaround and was left in the dark with the results of her small business loan request. Fontella was skeptical. Bryan Rabanal, her UCS account executive, knew it would take time to gain her confidence.
As hesitant as she was, Fontella also had plans. She wanted to meet the demands of her business growth while building her business credit.
While most programs shy away from a young businesses, Bryan was able to put a business funding package together for Fontella. He explains the extra effort he took to position her file in a way that gave banks the security they needed to verify all her numbers and to show the positive cash flow coming into her business.
“I provided her last 6 months of business bank statements to show a larger scope of business when I typically ask for the last three months. I also performed a bank verification via decision logic to get her transaction report which provided the bank with the last 90 days of banking transactions up to the present day. So I was able to show that the business is trending upward in revenue.”
Once Bryan could show the steady upwards trend of the small business’s revenue, the bank had no problem approving Fontella’s application for financing.