In August, Credit Cash provided over $4 million in new fundings. This represents 6 new clients whose combined sales are over $100 million.
Among the notable transactions was a restaurant chain in the Southeast with over 20 locations who borrowed $1.2 million for renovations. The deal was closed within 10 days.
Another relationship began when a Northeastern retailer needed a $1.3 million cash infusion for new inventory in preparation of a busy fourth quarter. This retailer was in the midst of negotiating a new bank line, however sensing delays, they called Credit Cash. We were able to work with both his old bank and his new bank and provide the time critical funding in two weeks.
A third noteworthy deal was a $1 million loan used for construction by a nine-location day spa located in the Southeast. This successful chain felt that it had sufficient cashflow to cover a timely project, but when cost overruns and seasonal slowness occurred, they turned to Credit Cash for a fast and reasonable solution.