We cannot express how excited we are for this new development. We have worked with multiple financing companies to better provide our clients with the ability to start their own shaved ice business when they do not have the liquid capitol to do it on their own.
Every one of these companies functioned, more or less, the same. They all would lend to a specific client while everyone else was left wanting. While it is totally understandable why a company or bank would not want to lend money to someone who posed a risk, it was still hard for people who were just starting out, even if they did posses a descent credit rating.
The criteria for most equipment leasing companies is the same. They want you to have been in business for 5+ years, have impeccable credit, and they will not lend a dollar under $200,000. We have obviously never fit that mold, unless we have a client that wants multiple stands or busses, and is able to break that $200,000 threshold.
About two weeks ago, I was convinced that there was a company out there that would be willing to finance our shaved ice equipment to our clients. I began to make call after call, and I always got the same answer, “we do not lend less that $200,000 and these people cannot be people, they must be existing businesses that have been around for 5 years or more. Frustrated, I started turning to other avenues. Banks and Credit Unions were always given to us as an option, but even they knew their process was more difficult than most people were willing to endure.
So, while I was attempting to think out of the box, I got a random email from Paramount Financial. I thought, “ugh, he is just baiting me… He has seriously addressed everyone of my pain points, there is no way this could be real.”
Well, I got on the phone with Drew and we proceeded to hash out every scenario possible. In the end, I could not believe that I was speaking with someone who had just addressed each of those concerns and continued to provide more and more options. A miracle had just occurred.
They also do not turn anyone away. For example, if you do not qualify for the Snowie Bus, they will let you know what equipment you do qualify for, so you can get your business up and running and start making that desired profit.
My little blip here is just scratching the surface. We are going to be discussing options in financing that you never imagined were possible. We even addressed a few questions to Drew that began with, “now I know I’m crazy for even asking, but can our clients…?” and his answer was yes, every time.
So settle in to that seat and join us for Shaved Ice Webinar #15 – “New Financing Opportunities” We just made it possible for you to begin. Stop dreaming and take your Shaved Ice business to the next level.