SUCCESS STORIES
A longtime general practice doctor associated with two medical centers in the area, Dr. Elena wanted to acquire a new ultrasound machine to better serve her clients. However, her high personal debt and low credit score proved obtaining funding more difficult than she thought. During the interview, TEAM discovered that Dr. Elena had a proven source for new client growth, the ultrasound machine would greatly increase revenue, and she owned rental properties to provide alternate sources of income which helped mitigate the risk and deliver the equipment she needed.
SUCCESS STORIES
Like many, Richard’s personal finances suffered after the recent economic downturn. He was a dedicated business owner but had to sell his home in a short sale. However, his business was cash flowing and he needed to purchase a new commercial mower to replace an older one costing too much in repairs. Even with a reasonable request amount, his poor personal credit made finding financing difficult… until given the opportunity to tell his story to TEAM.
SUCCESS STORIES
Tim’s contracting company grew too fast and the quarterly tax payments were overwhelming for a couple of years. Wanting to get back on track, Tim hired a CPA to handle the accounting and start them on a payment plan. While there were no other debt obligations on the books, the tax liens made it difficult for Tim to acquire funding for equipment needed to fulfill an upcoming contract. That’s when his broker introduced him to TEAM.
SUCCESS STORIES
The past few years have been really hard on Mark. He had to lay off 3 of his 20 employees and work double shifts just to pay the bills. In July, Mark landed a large contract that required a bulldozer, but Mark had a 600 FICO score and couldn't get funding. Mark then met Bob the Broker. Bob listened to Mark's story and, even though he had made some credit mistakes, Bob knew Mark deserved to tell his story to TEAM Funding Solutions. TEAM listened and Mark got his bulldozer.
SUCCESS STORIES
Brian started ABC Medical Services over 14 years ago. His company looks great on paper boasting a $3MM revenue for 2010 and 32 employees. The ABC fleet consists of 25 ambulances, many of which are owned free and clear. He is looking to finance two used ambulances for $50K to be used as back-ups. Knowing Brian had been declined by other lenders, TEAM interviewed him to find out why. As it turns out, ABC’s revenue dropped from $5.2MM in 2008 to $3MM in 2010. He also had very little remaining on his revolving credit limit and had been taking deductions rather than W-2 wages.
SUCCESS STORIES
Jacob owned and operated a successful restaurant for 20 years and wanted to create a new franchise with a slightly different concept. Jacob and his spouse put over $50,000 of their own money into the new location but still needed financing for kitchen equipment and a point-of-sale system. While his business ethics and management ability were strong, locating funding for a start-up restaurant proved challenging… until he was introduced to TEAM by his broker.
SUCCESS STORIES
A recent divorce left Kurt’s wife their moving business and him with a mortgage hiccup plus some personal credit card debt. In less than two years, Kurt established three locations of a new moving company franchise across the state. He had been renting trucks when needed but was looking for a more cost effective alternative with the hope of adding to his owned fleet as well. Knowing he had sacrificed to rebuild after the divorce, Kurt’s broker told him about the 10% purchase option with TEAM.
