Line of Credit
Why Financing Was Required
As a company that was known in the neighborhood, things went well for a long while. However, as more people wanted to switch to the company, it became important to have the best equipment and employees to ensure the reputation of the brand stayed intact.
Older equipment and less skilled employees made many jobs take longer than they might with updated equipment. It was something that they worked with at first but over time, it was a huge issue. When new clients signed on for service, they didn’t want to let them down. What they needed was a solution.
The Cost to Update Equipment
The owner of the business decided that something had to be done. Being unable to take on new clients was a problem that was becoming more serious by the week. So, the owner chose to look into updating the equipment and what the costs would be.
Talking to others in the industry and doing some research gave the owner insight into how much money they might need to make some changes. In the end, she decided that $125,000 would be enough to totally upgrade, train new staff, and move forward with current and new clients.