2M Research Services, LLC is a government contractor that assists federal government agencies in the areas of health services research, population health, program evaluations, large-scale data analysis, and survey research. With a client roster that boasts the Centers for Disease Control, the US Department of Labor and the US Department of Agriculture, 2M Research Services is becoming a leader in a very competitive market. 2M’s founder and CEO, Dr. Marcus Martin, says the company’s unique combination of subject matter experts and professional researchers is the reason 2M Research Services wins bids. These key attributes are the reason the company has experienced sustained and rapid growth since its launch in 2011.
“Our business reached a point where new projects came quickly,” explains Dr. Martin. “As we’d complete work, we also won new projects. We are competing with other federal contractors in many instances that are much, much larger than 2M Research Services. We’re distinct in that we’re a small business with the qualification to take on federal contracts, so we haven’t stopped growing since day one.”
As with many professional service vendors, soon after establishing his business, Martin had an urgent need to add to his team. Headquartered in Dallas, TX, the company also has offices in Atlanta and Washington D.C. As new contracts called for the hiring of new staff in all regions, 2M found it increasingly difficult to make payroll on time. Less than three years after launching, Martin signed roughly $2.3 million in new contract work. Growth capital became critical to his ability to accept the business opportunities coming his way, so he began to search for financing.
“We could not get help from traditional lenders because they were not comfortable with the fact that, as a professional service company, we did not have much in the way of assets. That posed a serious challenge,” he explains.
Martin acquired a Merchant Cash Advance, but soon learned that this popular loan option for companies that can’t get funding from traditional banks only hindered his growth.
“The interest rate was so high for our MCA that it severely limited our ability to support existing operational capital needs, growth capital needs, existing operations and to finance growth.”
After an exhaustive 15 month search, Martin found Dealstruck. He says the company saved his business.
“We got both a term loan and a line of credit from Dealstruck. One loan option helped us pay off our MCA loan while the other gave us the freedom to grow. Finally, we’d found an easy and transparent solution that enabled us to make payroll and hire new staff. We’d finally found a loan provider that could understand the conditions of our business and work with us to provide a solution that met our needs.”
And the timing was perfect.
“I’m confident that there is no other lender that grasps that different businesses have specific needs, and works with its customers to help them grow their businesses like Dealstruck does. Dealstruck is the first loan provider that truly cares about the success of the businesses they help. Dealstruck took the time to listen and understand what our industry is like and how it works. That’s special, and it works.”
2M Research Services has grown to 16 employees, and expects to reach $5 million in revenue by the end of 2015.
“In 2014, we achieved 300 percent growth over 2013,” says Martin. “You don’t do that with just any lender. Dealstruck’s transparency and the fact that working with them was so incredibly easy – and that they let me continue running my business – tells me they are the reason we exist as a company. I’d recommend them to anyone.”
In May 2015, The United States Department of Agriculture (USDA) Food and Nutrition Services Division has decided to award a $10 million Indefinite Delivery, Indefinite Quantity (IDIQ) contract to 2M Research Services. This type of government-awarded contract provides for an indefinite quantity of services for a fixed time. This contract flings wide the growth potential for Marcus and his 2M Research Services team.