Line of Credit Cherry Pick Your Way To Commercial Success
Author: Valerie Mellema
Date posted: 01.14.24

Based out of a large metropolitan area in south Florida, a window washing company had been in business for a decade. Most of the work done was on residential homes, which the company became well known for in their community. However, as more businesses came into the area, the idea of expanding and being able to handle commercial business became a common topic among the owners.

Making the Move to Commercial Window Washing

When demand for services went down, it was time to consider moving forward. The company owners had a meeting about what options they had to cherry pick commercial success, to get back to their former glory or even surpass the success they were used to. The idea of commercial window washing came up time and time again.

 

The only problem was that the equipment used for residential window washing wouldn’t cut it on large commercial businesses. The company would need a cherry picker to cherry pick commercial success by getting to high story windows. In addition, extra training and other equipment might be required to take on this new challenge.

Cherry Pick Commercial Success Line of Credit

Doing the Math

The cost of a cherry picker alone that can handle regular use is in the tens of thousands. Other items that would be needed had to be considered. So the owners got together and sat down. They wanted to determine how much money they would likely need to start offering high-level commercial window washing services.

 

In the end, they knew they’d need around $150,000, but the number could be a bit lower or higher. Finally, they decided that $250,000 was a nice round number to shoot for. This led to the next part of their story. They had to decide what kind of loan or credit arrangement would work to meet their needs without overwhelming their finances.

Moving Forward With a Business Line of Credit

After looking at business loans and lines of credit, it became clear that either would work, but one had an advantage. In the end, the company received quotes for both forms of financing but decided to move forward with a business line of credit. It seemed to be the best option for the short-term. It also appeared to be the best option for the future if the window washing company was successful with commercial properties.

What Sets a Business Line of Credit Apart

The window cleaning company chose a business line of credit because of how it operates. They were able to get a line of credit for $250,000 and likely would have been able to get a loan of the same size. However, with a line of credit, they could use only part of the money and only pay interest on that amount.

 

The Sweet Smell of Success

The business took the state by storm with a cherry picker, commercial window washing training, and other essential equipment. They quickly moved into the commercial business. Soon, they had more than enough customers to compensate for the loss they’d had in residential properties. Business is good, and it looks like it will only get better.

Cherry Pick Commercial Success Line of Credit
About The Author | Valerie Mellema

Valerie has over 16 years of experience as a professional writer of blogs, eBooks, articles and press releases, with a focus on finance and alternative lending. Valerie resides with her family in Texas and is passionate about her horses.

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