Cash Flow Assistance for a Growing Small Business

Specializing in LED lighting and solar electric panels, Ohio Valley Electric has tripled its growth in the past years.  With five-plus years in business and an A+ BBB rating since the start, John, the owner, counts his success to always going the extra mile for his customers. “We started the business to help people, and when customers send you a payment in the mail and attach a thank you note; it makes all the hard work worth it,” said John.  solarpanels

Recently, the Indiana-based company sought additional working capital from IOU Financial. “Turn around for us on large jobs is often weeks or even months from ordering product to completion.  This causes our funds to become too tight to operate on,” explained John. The IOU capital allows the small business to finance the jobs that come its way in a proactive manner. “IOU gave us the funds to order material for existing jobs, as well as money to get our message out to more people,” said John.

“IOU seemed to be more flexible then the other people we talked with.  As a small business, you need to work with people that are flexible and helpful,” explained John.  “Some places require so much time to go through the process, and as a small business owner, time is too important for me to waste.”

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  1. […] nice to extend credit to customers, it can also be a money-losing proposition. People who pay with cash or payment card (debit, credit or gift) are your best customers. The only risk they pose is […]

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