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Short Term Business Loan Helps Contractor Complete Dream Kitchen

If you can’t stand the heat, get out of the kitchen renovation business

Learn How a Short Term Business Loan Helped a Contractor Complete A Customer’s Dream Kitchen.

The idea of one of his kitchens being featured in a popular New England Magazine sounded amazing to the Vermont-based contractor, but it also meant that he was under even more pressure. He hadn’t told his customer, but he had run out of working capital and needed a short term business loan fast to purchase the materials needed to finish the project.  Meanwhile, the homeowner was insisting on an expedited timeline for completion to ensure their dream kitchen would be ready 2 days ahead of schedule for a photoshoot. In addition, because this particular project was to be featured in a prominent magazine, the contractor wanted to put extra care into ensuring that everything was exceedingly perfect. After all, the publicity from the magazine would likely send a lot of new business his way.


Banks Very Often Disappoint Business Account Holders Who Assume Their Banking Relationship Will Help Them Get a Loan

The problem arose when the contractor realized he didn’t have enough working capital to purchase all of the materials required to complete the job. Time was running out and he needed cash fast. He didn’t have time to shop around for loans because he was actually on-site doing the work! He only needed $7,500 to purchase the materials he needed, but he needed it right away. His bank was no help. Even though his credit score was over 700, his banker told him that his deposits fluctuated too much. Some months he’d deposit as much as $45,000, however, during other months his deposits might be as low as a few thousand. He couldn’t believe that his own bank had rejected his loan request. His nearest receivables were 45 days out and he was out of time.

Last-Minute Help From WCP Financial’s CEO 

That evening the kitchen contractor cracked open his laptop and desperately started Googling everything about fast loans: Short Term Loans, Merchant Cash Advances, Payday Loans, Hard Money Loans, Same Day Loans, Next Day Funding, he’d seen and ignored ads with these names a million times – but not tonight! Before long he ran across WCP Financial and a blog post titled, Short Term Construction Loan Helps Builder Tackle Larger Projects. Even though it was after hours he picked up his phone and called WCP Financial. Expecting to leave a message, he was surprised when he heard a voice on the other end say, “WCP Financial, Cayce speaking. How may I help you?”

Cayce Prunesti, WCP Financial’s CEO just happened to be working late that night. He was friendly, helpful, and answered the contractor’s questions about short term business loans. Cayce explained that because short term business loans are funded with private money, they aren’t bound by the same rules and regulations as traditional bank loans. This flexibility allows them to work with borrowers who may not fit the traditional lending criteria. WCP Financial could help the contractor secure a short term loan right away. All the contractor needed to do was to fill out a quick application and provide some basic documentation. In fact, Cayce and the kitchen contractor stayed on the phone until the contractor completed all of his documentation requirements and the short term business loan application.

The following day, Cayce called the contractor and told him that his loan was approved and funded. The contractor was surprised, relieved, and extremely grateful. With funding secured, he was able to complete the job early, avoid upsetting his customer, and benefit from his work being featured in a high-profile magazine.

Start a Conversation With WCP Financial

If you’re a contractor who finds yourself in a bind and needs cash fast, don’t despair. WCP Financial can help. We understand that as a contractor your business fluctuates and that you may not always have the capital you need on hand. Contact WCP Financial today to see how we can help you get the funding you need to grow your business.

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