A pet service company with healthy revenue, introduced a new payment model for specific care services for pet owners. A brilliant idea for long-term expansion, but it came with a small roadblock to tackle – the immediate cash flow.
Finding responsible, caring team members who relate well to pets and their owners isn’t easy.
A big chunk of revenue goes to payroll, and they needed a loan option to pay their team on time, but their bank loan was denied.
Denied a bank loan and discouraged by expensive alternative lenders, Shelly, the owner, was determined not to give up. She reached out to her network for ideas, and a service-business owner mentioned Payro.
A credit line of $10k was the lifeline they needed. It allowed them to restore cash flow and hire new employees, even while waiting for customer payments.