Referred to Dealstruck by Lendio, Profitable Businesses Such as Jidan Find Access to Lending Products With Healthy Loan Terms, Enabling Viable Business Growth
SAN DIEGO, CA–(Marketwired – Sep 10, 2014) – Dealstruck, Inc, an online crowdlending provider, and Lendio, which connects small businesses with lenders, have partnered to provide growth capital to full-service commercial cleaning firm Jidan Cleaning. Referred to Dealstruck by Lendio, Jidan secured a Dealstruck CrowdLine line of credit. Dealstruck’s speed and efficiency, as well as healthy loan terms, enabled Jidan to take on new staff and corporate clients to quickly scale.
Jidan services the Northeastern tri-state area that includes Delaware, New Jersey and Pennsylvania. In the last three years, the company has grown to almost 50 employees and over $1 million revenue. However, even with ‘net-30’ payment terms, late payments by customers decreased Jidan’s potential growth. This required founder and CEO Pat Claybrook to seek growth capital beyond her personal savings and expensive bridge loans.
“As we’ve grown, our sales contracts have grown too, requiring more cleaning products and staff,” said Claybrook. “Despite having multi-year annual contracts from large corporate businesses, I can virtually guarantee revenue to the banks but they still won’t fund me. After using my own savings and multiple small bridge loans that require big and fast returns, we’re glad we found Dealstruck, which provided us with the perfect loan for our business.”
Claybrook’s family came to the US from Trinidad. Five years after making her life-long dream of starting a business a reality, Claybrook made Jidan her full-time priority. When her accountant advised her she needed a long-term financing option to scale her business, she found Lendio, which connected her to Dealstruck.
“One of the biggest challenges faced by small business owners is finding the capital they need to grow and thrive,” said Lendio founder and CEO Brock Blake. “Dealstruck has a great loan product and is a strong loan option for our business owners. Our relationship with Dealstruck is one of the ways we help business owners like Pat live the American Dream.”
“Jidan Cleaning is a great example of a growing, profitable small business in need of healthy loan terms to continue its success,” said Ethan Senturia, co-founder and CEO of Dealstruck. “Lendio’s pairing of successful entrepreneurs with the best form of growth capital for their needs gives good entrepreneurs a fighting chance. We’re glad to have linked up with Lendio to assist Pat and her team, and to set them on the path to becoming bankable.”
Dealstruck was the first crowdlending provider to offer businesses and investors the opportunity to access multiple credit products. Its online platform connects growing small businesses with accredited investors, providing borrowers with the growth capital they need quickly and easily, and providing investors with freedom over which opportunities they pursue. Dealstruck’s CrowdLoan term loan product and its CrowdLine working capital line of credit were designed for growing, profitable small businesses looking for fast, fair and transparent financing.
The Dealstruck lending marketplace connects profitable, small- and medium-sized businesses (SMBs) with innovative credit solutions funded by individual and institutional accredited investors. Unlike the one-size-fits-all approach offered to them by banks and the high-cost, short-term credit offered to them by alternative lenders, Dealstruck provides growing SMBs with a suite of products that give them a credible and transparent path to bankable. Dealstruck is the first crowdlending platform to offer multiple products to SMBs, and the first to allow investors the freedom to choose specific investments. For more information, please visit https://www.dealstruck.com/.
Lendio, the #1 small business lending platform*, provides online services that help businesses and lenders work together. Lendio makes business loans simple by matching qualified small business owners with active banks, credit unions, and other lending sources.
*Based on volume of monthly visitors reported by Compete.com.