Tammy and James, an Iraq war veteran, dreamed of opening a kennel-free doggy daycare.
When the pair went looking for financing, they were turned down by seven banks because they weren’t comfortable financing a loan in the dog care industry, the business was a start-up and they didn’t have enough collateral. The pair was close to throwing in the towel.
Another doggy daycare owner referred them to us. Because of the co-owners’ extensive business experience, the projected industry growth and strong community impact, we provided a $150,000 small business loan to acquire equipment, undertake leasehold improvements, and provide working capital for pre-operational costs.