Expand your Business through Greater Product Offerings

After two years of operation, Voodoo Vapor found itself with two successful locations. The company’s owner had recently moved into a larger brick and mortar store and expanded her business with a free-standing mall location.

In order to continue the successful growth and evolution of the company, Voodoo Vapor realized that adjusting the way inventory was managed would be crucial. Increasing foot traffic and building a larger base of loyal customers could be attained if inventory could respond quicker to the rapidly changing variety of inventory the market was demanding. This was going to require additional capital, but the books showed the potential for a great return.


The vaping market has come a long way since the introduction of electronic cigarettes. Since 2013, vaping has been experiencing explosive growth. In 2015, the market was estimated to be approximately $3.5 billion, and some experts are predicting growth to $25 billion in just the next 10 years.

Voodoo Vapor already had some experience with alternative financing, and was interested in exploring options and restructuring a loan from their current lender to better match their current cash flow needs. Voodoo Vapor wasn’t initially looking for a second position, but when IOU Financial offered their terms combined with the opportunity to put that funding to work, it was too good to turn down.

“The online application process couldn’t have been simpler. It only took a few minutes to complete.  And the terms, specifically the daily payback amount, made it easy to put these new funds to use immediately. Working with IOU was a pleasure because our loan officer not only understood our business and market, he even came up with some great suggestions for us.”

Voodoo Vapor Owner


As an early player in the central Ohio market, Voodoo was one of 12 vaping retailers in 2013. Today, there are nearly 120 outlets. Previously, quarterly inventory cycles used to be enough to keep up with the latest consumable vape products known as e-liquid. However, today the lightning pace at which the products are changing requires constant updates to inventory and services to stay relevant.

While there are many innovations and new products when it comes to hardware, the market for the e-liquid consumable component is constantly evolving. There are literally thousands of flavor options and hundreds of potential vendors for this consumable product, and trends rise and fall in a matter of weeks. Voodoo Vapor knew that shortening the inventory buying cycle could increase foot traffic to their retail locations, translating to a growing, loyal customer base.


Attracting new customers with a wider variety of inventory isn’t the only way Voodoo Vapor has been putting IOU Financial’s funding to use. With the extra capital available, Voodoo was ready to act when the opportunity presented itself to expand the product line.

Voodoo has now entered the e-liquid game with its own product. The new e-liquid has become a huge success in her own store and has even landed on shelves of several other stores.

“I’m thrilled to say that we now actually have a waiting list of stores that are interested in carrying it. This exciting new venture wouldn’t have been possible without the funding we received from IOU.”

Are you looking to expand your inventory and reach your target market? A fast, fair and affordable small business loan could be right for you.Call 866-217-8564, or visit IOUFinancial.com/our-loans/ to learn more.


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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Customer Success Story: Getting Ahead of the Competition

Twin brothers Jermaine and Damian launched No Grease, Inc. in 1997. Growing up with a mother who was a stylist, they were introduced to the hair industry at a young age. Now, with 19 years of experience under their belt, they have five Charlotte, NC locations.NoGrease

NO Grease, Inc. is no ordinary barber shop. The brothers have put their entrepreneurial skills to work and created an atmosphere of excellence, which they hope to continue with the help of an IOU Financial small business loan. “We sought out additional funding from IOU because wanted to do more advertising, update our equipment, and keep ourselves ahead of our competition,” Jermaine explained. “It’s important to strive for more visibility among our customer base.”

“IOU simplified the process of building a relationship with a financial institution,” Jermaine said of his experience. “[IOU] took out the small print, and put the meat and potatoes in front of us: this is what we are borrowing, this is what we pay every day, and this is what our total repayment is. Simplicity is the ultimate form of sophistication, and IOU supplies that.”

“Communication is a big thing in small business, and IOU communicates well. If someone is considering a small business loan, make contact and start the dialogue,” said Jermaine. “If you’re looking to grow in your industry, reach out and see if IOU can help provide you with the funds you need to grow.”


If you’re in the Charlotte area, book an appointment with No Grease, Inc. here: http://nogrease.com/

Keep up with the latest happenings by following No Grease on social media:


Customer Success Story: Taking on New Projects

Apple Grove Renovations was founded in the summer of 2010 by owner, Marcus Gregory. Marcus brought a broad construction background spanning over twenty years in the residential, commercial, and industrial fields and quickly forged a team of skilled employees and professional subcontractors.  In the spring of 2014, AGR relocated its offices from Louisa to Richmond to better serve its client base. In the years since AGR’s inception, the in-house staff of craftsmen and top-notch subcontractors have enabled AGR to grow rapidly and tackle ever larger projects.IOU Financial Testimonial

To ensure even cash flow while taking on projects, AGR sought out additional working capital from IOU Financial. “Many of our jobs require quite of bit of upfront costs, but we don’t receive payment until the work is complete,” explained Marcus “The funds have allowed us to purchase materials for new projects and keep the business rolling.”

“[IOU’s] strengths are its customer service and its speed throughout the entire process,” said Marcus. “It’s a quick and easy way to get capital to keep your business moving and growing.”


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Small Business Growth: Creating Steady Cash Flow

After 13 years in business, Arizona-based Tectonix Steel has grown to the 5th largest company in the country in its industry, employing 48 staff members.

Due to being a business in post-recession construction, Jason founder and owner-operator of Tectonix Steel, sought additional working capital from IOU Financial. “Because we’re in the steel imageconstruction business, our cash flow ebbs and flows,” explained Jason. “For example, we will do a large, $300,000 project, but we might not get paid for 90 days. So we will work for three months to do the job, but won’t see payment until three months later. IOU has been a great partner in helping smooth our cash flow.”

One of Jason’s favorite parts of being a small business owner is taking care of his employees. Before revving up for the new year and some larger jobs, Jason was able to reward his employees for their hard work. “We wanted to provide comfort for our employees, give them bonuses, and get ready to bring our best into the new year. The additional capital also allowed us to do that,” said Jason.

“IOU is concerned about the relationship, making sure the customer is happy, and about future business,” said Jason. “They’re friendly and willing to help, plus I feel safe and secure knowing I can pay off early and not be penalized… that’s huge!”





Small Business Growth: Elevator Consultants

CBA Elevator Consultants has quite the impressive resume. After 15 years in business, CBA serves clients like the City of New York, Columbia University, and St. Barnabas Hospital, in addition to several architecture and engineering firms. Based in Hackensack, NJ, CBA acts as a consultant for building owners and property managers for all elevator-related needs. “We deal with elevator companies, find out what the needs of the buildings are, and make sure everything is in order. We do evaluations, modernizations, and third-party witnessing of inspections,” said Bernie, Accounting Department Manager. “We enjoy being in our customers’ corner, able to steer them in the right direction and help them troubleshoot.”

Recently CBA received a small business loan from IOU Financial. After CBA expanded its office to almost three times its size without financing, IOU was able to provide an extra cushion to continue growth in both the private and public sectors.

“IOU follows through. It was a quick turnaround. In a matter of days, we were approved and we didn’t have to sign our lives away. We were told where to apply, what exactly we would need, and the money was available when they said it would be,” said Bernie. “IOU is very cooperative. The people we’ve dealt with have been very helpful, always clarifying everything and answering questions… It is just easy dealing.”


Looking for an elevator/escalator engineer and design professional?

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Small Business Growth: Seasonal Expansion

What began as a part-time entrepreneurial venture 21 years ago, has grown into a full-time asphalt paving business that thrives. “Our customer base has grown steadily and we have a lot of snow-plowreturn customers who use us to maintain the upkeep of parking lots and driveways,” said the Pennsylvania-based business owner.

With winter approaching, the business sought out additional working capital from IOU Financial. “We provide snow plowing services for local businesses and a local hospital.  Having additional working capital makes it possible to have our salt supply readily available, and we will be able to maintain our customers’ satisfaction with our services,” explained the small business owner.

“IOU worked with us very quickly with the funding,” said the business owner. “I would highly recommend IOU to others and I will be mentioning it to some other relatives and friends we have who are also self-employed.”







Small Business Growth: Cincinnati Accounting Firm

As a new year approaches, most businesses evaluate years past to determine how they will make the coming year the best yet.  This was the case for a Cincinnati-based accounting firm.  After being named in the top 25 firms in Cincinnati, 2015 had proven to be a success; but the firm still needed some extra cash to get through the end of the year and start 2016 strong.

We asked a couple of quick questions about the business to better understand their experience and how an IOU Financial small business loan helped them.  Check out their answers!


Type of Business: Accounting Firmtestimonialimage3

Location: Cincinnati, Ohio

How many years in business33

Please provide some background of your small business: The business was started by two CPAs who wanted to provide proactive accounting services to small-to-medium size businesses.  We have grown to a firm size of 24 employees and ranked as one of the top 25 accounting forms in Cincinnati.

What is your favorite part of being a small business owner? Helping others grow their business

Why did you seek out additional working capital from IOU Financial?  High receivables at year end and needed help at year end in a short term cash crunch

How has this capital helped your business grow? Allowed us to add additional employees that take time to generate positive cash flow.

What has IOU Financial done for you that others don’t or haven’t in the past? Honest, quick response

What are the strengths of IOU Financial ?  Quick turn around and easy to complete process

What would you tell someone considering an IOU Financial small business loan?  [The process is] easy and quick to accomplish, with low paperwork requirement.

Is there anything else about your experience with IOU Financial that you’d like to elaborate on?  I liked being on the phone with client services and [closing the loan] online with the Closing Specialist.



Small Business Growth: Homemade Ice Cream

Annapolis Ice Cream Company is about to head into its 12th year of business, and has been voted “Best of Annapolis” by its customers 11 consecutive years. Not a bad track record! In addition to its Main Street location, you can now find the famous homemade ice cream at its second location in the Annapolis Mall.

With the upcoming slower season, Walter, President of the business, needed extra working capital to allow for growth, and recently received a small business loan from IOU Financial. “[The loan] will give us the ability to take advantage of the natural winter slowdown to get fully prepared to come into 2016 extra strong,” Walter explained. The IOU Financial working capital will also enable Annapolis Ice Cream Company to add a new POS and inventory system, hire supervisors, and boost marketing support for its second location.

“Traditional banks have no clue how to read our business success. [IOU Financial] listened and understood,” Walter said of his experience with IOU. “There’s a reason IOU has a sterling reputation for customer service.”



Around Annapolis and want to get a frozen treat?! Find the hours of operation and new flavors through Annapolis Ice Cream social media!

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Small Business Growth: Event Staffing Expansion

Justin brought 20 years of industry experience to the table when he created Texas-based Trinity Event Staffing. Beginning in the Dallas/Fort Worth area about six years ago, Trinity has now expanded to all the primary markets in Texas including Austin, College Station, San Antonio, and Houston.

Like many small business owners, Justin needed a little extra working capital in order to grow his business, and received a loan from IOU Financial. “At the time we sought out capital from IOU, we were expanding from Dallas/Fort-Worth to Austin and College Station. We wanted to cap off all the major places in Texas we should be doing business, and with this loan we have been able to do that,” Justin said. With the additional funds, Trinity Event Staffing was not only able to expand to new cities, it was able to hire a salesperson to focus on client relations in its existing markets, enabling business to flourish further.

“Traditional banking is not usually going to lend capital unless you have some piece of collateral that you’re going to give up. That wasn’t working for us. IOU was a wonderful alternative to the banks,” Justin explained of his experience with IOU Financial. “The process was extremely easy, and I was very impressed with the online portal. My closing specialist was sincere on the phone, he answered my questions, and he never [me] made feel pressured. I appreciated that he left everything in my court.”

Justin advises other small business owners to consider IOU Financial when seeking working capital. “I think the repayment structure of the daily payments is a clever way for IOU to collect, but also for me to pay a manageable amount over a manageable amount of time. We will definitely be keeping IOU in our wheelhouse of resources!”


IOU Financial working capital testimony


Justin was able to expand his business with an IOU Financial loan.  Why not you?  Learn more about business lending and have a Small Business Loan Consultant call you today!