What Happens When Competition Comes to Town

The business was going well, and things seemed as if they could never be tainted. But as often happens, a wrench got thrown into the works. Another cleaning company came to town – one that was national and had a ton of marketing behind it. While the local company still had contracts, some customers chose to switch, and it was becoming difficult to bring on new clients. The company looked like it was in trouble if something didn’t change soon.

Maybe the Answer is Advertising

The company, and its owner, was a go-getter – that had never been the problem. But suddenly being a small fish in a large pond was causing problems. Rather than giving up on a dream company that the owner still had every confidence in, she decided to look into options. After going through the numbers and considering the possibilities, it was agreed that a $250,000 loan would be helpful. It could kickstart a local marketing campaign and let the company update its services and equipment.

Choosing the Right Lending Option

With so many options for small business loans, it was a little overwhelming at first. But when the owner spoke with the local small business networking group, she felt like she had a better grasp of what would work and what wouldn’t. An asset-based loan seemed like an excellent idea since all the equipment that the business already had could be used as collateral. In addition, they had what was needed to quality, and the loan was flexible, so the owner went ahead.


The Story Continues

With the loan money in hand, marketing started with gusto. At the same time as the owner was considering lending options, she was also learning more about marketing and how to do it right. She brought in an employee with tons of experience and soon found the business name was making waves in the community. The customers who had been lost were made up with new clients, and business continues to grow even today.

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