Steady Cashflow for a Small Town Business

With 34 years in the industry under his belt, this hardware store owner saw an incredible opportunity and bought the business when the original owners decided to sell. “The business is coming up on its 70-year anniversary, and I’m nearing my tenth year as owner,” said the Russellville, Alabama resident. “There have been many challenges, but we have been dedicated to keeping our store open for the community.”

“For us, it’s all about the people. In a hardware/outdoor power equipment store, you must be a problem-solver,” said the business owner. “Helping the people of my community handle the day-to-day challenges of home, industrial, and lawn care is our business.”

The hardware store owner recently sought additional working capital from IOU Financial. “I acquired this business in 2007, just before the great economic bust, and we found that the banks’ attitude changed overnight,” he explained. “I had to find financing anywhere I could, and that can lead to very high interest rates.”

The business owner has put the funds to good use already. “With the capital from IOU, we paid off our outstanding high interest balances, and closed those accounts. This IOU loan is a simple interest loan, and has an end in sight,” he pointed out. “This will quickly raise our business credit rating and improve our relationships with the many vendors we deal with. We will also be able to pay our accounts more quickly and timely to take advantage of the early pay discounts and dating on future purchases.”

“Most banks don’t look beyond the credit score. IOU did and could see the plan we wanted to put in place. The procedure was fairly simple and quick compared to the banks.”

Another reason the owner chose IOU was because “all the reps were very personable and attentive to our needs and limitations. I didn’t encounter any pressure sales tactics,” he said. “The ease of the process, speed of the decision, and the willingness to answer questions at any point were great. If you choose IOU as your lender, you will be informed and understand everything throughout the loan process.”

LOOKING TO STABILIZE YOUR CASHFLOW? An affordable working capital loan could give your business what it needs to grow. Call 866-217-8564, or visit to learn more.