BCI Lending understands entrepreneurial
spirit. It takes talent, drive, determination and sometimes "plain ole luck" to
make a business flourish. One thing a successful business always needs is
adequate funds. Here are some success stories from BCI Lending's small business loans
at work in several small businesses.
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When Deirdre Niblock sets her mind to a task it is a sure bet she'll succeed.
A high school honors grad at sixteen, a double major at Howard University and a
small business owner in her twenties, Niblock is the epitome of American
ambition and success. So when she decided to open her own early childhood
learning facility she needed financial partners with as much vision as she.
(see more from The Center for Learning's success story).
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The Oaks is a stand alone, not-for-profit corporation with an independent board. The biggest
stumbling block when McGee arrived was cash flow. The grounds needed improvement. Facilities
required upgrading. A marketing overhaul was imperative and most important, The Oaks had to
get out of an untenable bond financing situation. "We needed a bridge loan, but traditional lenders
didn't see the big picture. They just wanted our financial statements without listening to the
whole story of The Oaks and what the future could bring...BCI Lending has extensive knowledge of USDA
and SBA loans and a solid base of contacts. What they didn't have was experience lending to continuing
care retirement communities or non-profits, so they studied CCRCs," McGee explained. "BCI Lending wanted to
know about everything. They go to great lengths to understand your business."
(see more from The Oaks' success story).
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"We had millions of dollars of inventory, but a business has to have cash to meet monthly obligations," Hamilton said.
"So for years we had a line of credit with a traditional bank and that worked well for us." Then the recession hit and the
financial institution Hamilton had used was unable to continue to extend Republic's line of credit.
"We were coming off many good years of business. We were profitable, had considerable inventory, but the bank we had our
line of credit with got into bad trouble. They were under the gun from the Feds," Hamilton explained. "It was an
uncomfortable time all around." Hamilton said he tried to work with other lending institutions, but found his calls
unreturned and the process stalled. Then someone recommended BCI Lending. He made contact and their Greenville area representative,
Logan Bagley, came to the plant for an initial assessment.
(see more from Republic Locomotive's success story).
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