Sometimes it's hard to get a loan when you've been in business for as long as we have. We're not exactly a new school, but we know what it's like to be an old-school company. We've been around since 2012, and we're proud of that, but sometimes the banks don't take us seriously because of our age.
When I started my company, Bolt Fabrics, I was thrilled to be able to make the best possible fabrics for my customers. However, about a year into the business, I realized that I couldn't afford to buy prime materials and fabrics for my business. At first, it was manageable - I scrounged together enough cash from friends and family and worked around the clock to put out orders on time. But soon enough, it became clear that something had to change if Bolt Fabrics was going to survive.
And then one day, I was talking to my friend who runs a business loan company called ASCIN Loans and he told me that they could help me get funded fast and easily!
I didn't believe him at first. But he set up an appointment with one of their representatives, who explained everything in detail. It turned out that they could help me get payday loans from ASCIN as soon as the next day! They gave me a loan against my inventory so that I could buy more fabric and start selling it right away.
They were willing to help us, but only on certain conditions: that we had money in the bank and that we could prove our financial stability. They didn't care about our age or anything else - they just wanted to make sure that they made good on their investment in us. And boy did they! We got the money we needed to keep things running smoothly at Bolt Fabrics.
I can't tell you how much this has helped me grow my business - it's incredible how fast things have grown since then. I've been able to add more employees and even expand into new areas of production.