The CEO and founder of an electronics wholesaler was struggling to find the right financing to set a solid foundation for future growth for his business. He turned to the Bridge platform, where he found the process to be both convenient and easy to navigate. Through Bridge, he connected with several lenders, chose one and successfully secured the necessary financing for his business.
Describing the experience with Bridge, he said “Every other site we dealt with offered quick solutions like MCAs or loans that weren’t sustainable long-term. Bridge, on the other hand, provided genuine offers from reputable institutions that we knew could support our growth. The ability to research the responding banks helped us make an informed decision and choose the right partner for our needs.”
To other business owners seeking financing, he offered this advice: “it’s crucial to plan ahead—at least three months in advance. Pay close attention to the advice from lenders’ legal teams and be prepared to follow their guidance. This preparation will better position your business to secure financing and for future financing opportunities.” Also, he shared this challenge that may apply to other businesses: “Our main challenges were dealing with gathering all of the documentation and ensuring consistency in our business name across all documents, and legal records such as distinguishing between LLC and Corp.”
With Bridge’s help, the company received multiple lender options and chose the one that best suited his needs, BCF a CDFI. Reflecting on the experience, he said, “With BCF’s assistance, we’ve been able to clear previous loans and secure long-term funding, setting a solid foundation for future growth.”
For more information on how Bridge can help your business secure the funding it needs, visit bridgemarketplace.com.