Even businesses that have been classified as “essential” have felt the difficulties associated with our countries struggles with the COVID pandemic. An automotive service and restoration company came to Berkman Financial with the need to additional cashflow. They were unable to get the SBA sanctioned funds and their bank had significantly tightened their underwriting guidelines so they were at a loss until they came to us.
Due to the structure of their company, they needed to shut down temporarily because for them to run their business the right way, they needed the majority of their staff on duty and had significant overhead just to keep the doors open even if their customer base was less due to the pandemic and stay-at-home orders.
Berkman was able to give them the capital they needed to open their doors back up, bring the staff in and start services the customers that were starting to get back to a “normal” life. This has helped them get back on their feet and grow their sales again.
If your company could use some additional funds to keep on trucking during these difficult times, contact us at 1-800-201-0771 to see how we can help.