- Loan Amount: $30K
- Term: 12 Months
- Use: Working Capital & Marketing
- Industry: Public Relations
A single disruption in cash flow can often make or break a small business. Mara Stefan found her business, Emerge Public Relations, in this predicament when a major client asked to delay its payment terms from 30 days to 45 days, effective immediately. “As a small business, that small change could be crippling for us,” said Mara. She was immediately worried about covering her business expenses as she knew a traditional bank would not be able to process a loan in the short time needed - so she began researching alternative lending options.
With a small business, that small change could be crippling for us...
Mara knew very little about alternative lending and appreciated SnapCap’s immediate response to her information request. “Almost immediately after I requested more information, a representative called and talked me through the entire process, explaining step-by- step how SnapCap’s lending process unfolds,” said Mara. “That’s really important for those of us looking into alternative funding for the first time.” Within 24 hours of submitting all the necessary documentation, Mara was notified that she had qualified for a loan. “It took less than 24 hours—amazing! The speed and efficiency was very impressive,” said Mara.
The speed and efficiency was very impressive.
SnapCap provided Mara with a $30,000 loan, allowing her to continue to run her business as normal, and also to make an overdue hire. “We felt extremely relieved and thankful that SnapCap could promptly bridge the financing of the 45-day payment delay. It took a lot of pressure off of us and allowed us to hire an additional employee to manage our other existing accounts.” Mara lauded SnapCap’s swift turnaround and helpfulness throughout the entire process, saying, “After experiencing SnapCap’s timeliness and professionalism, I can easily see them leading this growing and necessary field.”
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After experiencing SnapCap’s timeliness and professionalism, I can easily see them leading this growing and necessary field.