A 12-year-old family owned entertainment venue company with an annual revenue in excess of $10M was looking for capital to expand its entertainment concepts at many of its 25 national locations. To launch the new concepts it estimated it would need $3-$5M of capital to modify existing locations and invest in needed equipment.
The existing bank of the company (a top tier bank), refused to lend to them. Like all businesses, they had some operational issues but didn’t have the experience or resources to present their business case to lenders in a way that would get their funding request approved.
Our team reviewed the company historical results and were able to present some of the past issues as isolated events and in a way that allowed them to become more acceptable to lenders. In addition, Biz Lending focused on introducing non traditional lenders who were familiar with the entertainment industry. In the end, our team was able to deliver the financing facility needed to support the expansion at attractive terms.
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