The CEO of a thriving NJ-based food manufacturing company with over 200 employees enrolled in Payro just as a contingency back-up.
At the time, the company had no need for a loan option, but as a business-savvy owner, the CEO wanted access to funding at a fair rate should the company ever need it.
4 months later, the company had introduced many more products, and to meet the high demand, they had to invest in expensive new equipment. This left the purse string tight.
Talk about turning the tables on equipment upgrades! Keeping over 200 employees’ payroll intact while taking on a big expansion would have been daunting without Payro – but a simple $50,000 funding covered the gap.
A one-time loan of $50,000 to cover the last part of their payroll was all they needed, and was quickly paid up in under 4 weeks.
In that window, their sales caught up and payments were collected — without any debt or sacrificing their profits.