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Case Study: A bridge loan for a construction company

 In Bridge loan, Case Study, small business financing, Working Capital Loans

Zip Capital Group case study for a bridge loan for a growing construction company.

Jerry got his start in the construction industry after finishing two years of Junior College in North Dakota.  He initially wanted to be an accountant but discovered quite by accident that he really enjoyed working with his hands.

Fast forward eight years and Jerry’s construction business was starting to grow to something beyond a two man operation.  To fund that growth, Jerry was going to need capital.

As a result of Jerry’s coursework in college to study accounting, he knew what was involved to get a loan from a bank.  He was smart enough to know that trying to get capital from a bank was going to be a long and arduous process.  He also knew that the likelihood of a receiving a loan was going to be slim.

While Jerry ran his business the previous years as best he could, he knew that he did not necessarily have the strong financials that the banks were looking for.   However, he was able to set up his business to take on projects that resulted in stable and consistent cash flows.

Jerry looks for alternative sources of funding

When doing his research, Jerry spoke to his brother-in-law, Doug looking for ideas.  Doug had previously worked with Zip Capital Group to get funding for his boating supply business in Florida.  Zip Capital Group had previously provided Doug with two working capital loans that were instrumental in helping him grow his business.  With the additional capital, Doug was able to acquire additional inventory and set up on online presence that resulted in an impressive growth spurt last year.

Doug, Jerry’s brother-in-law was able to put him in touch with John, his Zip Capital Group Account Executive.  Jerry had already done his homework and determined that he needed a bridge loan.   Once introductions were made, both Jerry and John worked together to start the application process.

An easy application process for a bridge loan for a construction company

Two and a half hours later, Jerry was finished with the online application process.  John provided Jerry with approval for his loan in less than 24 hours.  Once accepted, Zip Capital Group was able to fund Jerry’s loan in a little over 24 hours.  The entire application and funding process had taken Jerry a bit less than 48 hours.  Overall, he was very impressed with the entire application process.  It was easy and he was able to do everything in one sitting.

In the end, Jerry was able to borrow enough money to not only fund additional growth but also put a financial buffer in place to through a slowdown, should that happen.

Jerry’s experience with Zip Capital Group

Jerry has expressed to us that he has been very satisfied with the entire process.  He was able to get what he needed for his business quickly and easily on terms he can work with.  He was also able to borrow sufficient capital to build a financial cushion in case of a slow down.

While we have not funded a second bridge loan for Jerry’s construction business, he has recommended Zip Capital Group to a couple of friends that we have also been able to help.

We are happy to have had the opportunity to work with Jerry and Doug.  It is because of clients like them that make the business so rewarding for us.

If you are seeking a working capital loan or bridge loan for a growing construction company or any other business for that matter, we are here to help.  Zip Capital Group specializes in working capital loans for small and medium sized businesses across several different industries.

Start the application process today or call us at (800) – to discuss your finance needs.

 

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