Funding Need

A feeding and oral-motor clinic in Virginia was poised for growth but was unable to expand after multiple banks denied their loan application.

Solution

Biz2Credit was able to connect the business owner with a suitable lender to secure a line of credit to fuel expansion. The business owner came again this year in search of working capital, and we were able to find them a middle market financing product with one of our lending partners.

Our Customer's Story

Amie Teague, PR Feeding Clinic owner Amie Teague got her start working with speech and communication impaired children at age 10 when she started interviewing the families of autistic children in her neighborhood. She knew even at that young age that she was passionate about speech pathology and has spent her entire life working toward her goal of opening her own clinic.

After years of education and work in the field of speech pathology, Amie finally opened the piedmont Regional Feeding and Oral-Motor Clinic in Danville, Virginia, eight years ago. The clinic, which specializes in speech therapy, occupational therapy, and physical therapy, has been successful since it first opened.

Amie's credit suffered when she first opened the business -- a very common theme among new business owners. Three years ago, she approached her local bank about getting a loan to expand. She was told that without an excellent personal and business credit score and two years of profit, she didn't qualify for a loan; despite the success of her new business. "It's a vicious, never-ending cycle" says Amie.

How Biz2Credit Helped

Biz2Credit Loan Specialist: Julio Izaguirre

Discouraged that she might not ever secure financing, Amie was connected to Biz2Credit through one of our partners two years ago. She completed Biz2Credit's quick application and was connected with loan specialist Julio Izaguirre. After years of frustrations with local banks in her attempts to secure financing, Amie was pleasantly surprised with the ease of the Biz2Credit process and with her working relationship with Julio.

"The process was so simple and streamlined. Julio has taken the time to really get to know my business, what we need, and what we don't need. I love that I can call Julio at any time. He's truly dedicated to the success of my business," Amie said.

Julio was initially able to connect Amie to a lender to secure a line of credit, which she used for working capital and debt consolidation. More recently, he found Amie a lender who approved a $154,000 loan to expand her business.