Expanding Pool Business
Case Overview
Reason: Business Expansion
Funding Amount: $65,000
Approval Amount: $65,000
Industry: Costum Pool Company
Use of Funds: Term Loan
Program Type: Working Capital
The Story
Nicholas joins us again to talk about a referral client who was looking to expand their business in the summer. He dives into how they chose the term loan program, the length of the term they were looking to secure, and why he added prepayment incentives to the program.
The Details
The Client
The client is the owner of a custom pool company located in California.
He was referred to Capital Infusion by a previous connection.
His business has been operating for only a year and a half.
He was preparing for the busy summer season and needed additional capital to purchase three to four months’ worth of materials.
The Situation
Because the business was relatively new, traditional financing options were limited.
The client needed quick access to working capital to prepare for peak demand.
He was unfamiliar with alternative financing and did not fully understand how repayment would work.
He was concerned about keeping weekly payments affordable and manageable.
The Solution
Capital Infusion secured $65,000 in working capital for the client through a term loan program.
This program was selected because it had minimal stipulations and allowed for funding within 24 hours.
The repayment plan was structured around a specific percentage of the client’s monthly gross revenue to ensure that weekly payments stayed within his comfort zone.
The funding process was fully transparent so the client understood each step of the deal.
Strong prepayment incentives were included, giving the client the option to pay off early without penalties.
With the funding in place, the client was able to secure the necessary materials, take on all of his projects, and set himself up for his best summer season yet.