When first generation entrepreneur Sreekanth Yadlapati needed to buy a new facility in Dalton, GA to expand his granite business, he knew he needed additional financing to make it happen but didn’t know where to start.
"Everyday I see 10 banks on my way to work, but I have no idea which bank is good and what each bank does,” said Yadlapati.
“Bridge connects people like me to banks,” he said. “I didn’t think anything would come from submitting an RFP, but it ended up being a miracle for my business. We easily compared options and will use the loan to add 20+ new employees. The process was so very easy.”
Adam Maggs had worked at Napoli Pizza New York Italian Kitchen & Catering for several years when the owner told him he was selling the restaurant. Maggs decided he wanted to buy it and started working through a business broker to facilitate the loan. When the business broker came up empty handed, Maggs turned to Bridge built by Citi to realize his ambitions of being a small business owner.
"Searching for a business loan seemed like such a daunting process,” says Maggs, “but Bridge was easy. Now I’ve found a lending partner that truly cares about the success of my business. It’s allowed me to find the right lender for me.”
When Kayla and Roy Thomson were looking for a new lender to provide an additional line of credit for their Colorado construction company, Phoenix Industries Ltd., trust was top of mind for them. Kayla did an online search for terms like “contractor line of credit” when Bridge built by Citi caught her eye. “The site was trustworthy, and we felt comfortable to give it our personal information,” she said.
After submitting their loan request form, they quickly got their first indicative term sheet from First National Bank of Omaha (FNBO), one of over 75 lenders on the platform, and decided to connect with them to continue the loan process.
“We got four times the line of credit through FNBO than we could have gotten through our bank. It’s going to do huge things for our business in the coming years because now we will be able to increase our bonding capacity and bid for bigger projects. We would recommend [Bridge built by Citi] to other small businesses that are in the same situation that we were.”