Who says business can’t be fun?
For the owners of GLO Mini Golf in Riverside, CA, bringing a family-friendly experience to their community was their first business priority. The unique glow-in-the-dark and virtual reality-enhanced mini golf concept proved to be a hit with families, but soon became difficult to finance.
Launched in 2014 by four business partners, the owners used personal sources and business credit cards to finance the endeavor. Unfortunately, the high-interest payments on these debts had negatively impacted their ability to grow. Refinancing the business debt would be necessary in order to continue to operate.
Along with a collateral shortfall, these debts made it difficult for the owners to get a small business loan from traditional sources. That’s where Connect2Capital could help.
After reviewing their strong business plan and seeing that their unique entertainment concept was successful, we matched GLO Mini Golf with a $350,000 SBA 7(a) loan to refinance their debt and provide additional working capital. The loan helped the owners reduce their monthly debt payments by more than half.
Today, the business is thriving and the owners couldn’t be more pleased with the path to success they’ve found through small business financing and Connect2Capital.
- Minority-owned business
- Woman-owned business
- Located in a low-income area
- Two living-wage full-time jobs retained