PowerUp Lending has been providing direct capital to small businesses in America for more than two years. While that might not sound like a long time, in the world of online lending we’re considered veterans. Perhaps it’s because our founders are rooted in the small cap lending world and have been a leading source of capital in the marketplace for nearly 15 years. More on this in a moment, as it’s an important part of our story and potentially YOUR story in 2017.
Lease payments, credit facilities, cash advances, credit card debt. As a small business owner, you sometimes may feel like you’re working more to pay down your debt than to put money in your pocket. The very thought of dealing with every creditor can be paralyzing. Ultimately it prevents tens of thousands of business owners from making better strategic decisions for their companies.
That’s why this is a perfect time to get a handle on your outstanding debts with a small business consolidation loan. This brings us back to our story.
"If a company is always fighting off the back foot, it will never deliver a solid knockout punch."
PowerUp Lending was one of the first alternative lenders to create specialized business debt financing programs for business owners overwhelmed by their obligations. Our deep experience in public financing gave us keen insight into the importance of managing debt in order to maintain a strong leadership team and strategic vision. If a company is always fighting off the back foot, it will never deliver a solid knockout punch.
When we entered the direct lending field, there were already several experienced players. But none was focused on refinancing or consolidation. These lenders were more concerned about lending money quickly and then repeating the process over and over until the borrowers were stuck. They would give out just enough to keep their customers coming back for more. One of the dirty little secrets in the industry is how brokers would search for recently filed liens from alternative lenders and contact borrowers to offer them additional capital from other sources. Soon the industry was filled with brokers and lenders calling the same people and offering them money. It’s a phenomenon we had seen before and one that we had an answer to.
" ...our success is defined by the success of our clients and their ability to effectively manage their debt."
When PowerUp Lending takes on a client, we treat them with the respect they deserve. We listen to the pain points they have, work on a plan to consolidate their debt and keep the wolves at bay. Because we are in this for the long-term, our success is defined by the success of our clients and their ability to effectively manage their debt. Other lenders are not as concerned with the success of their clients’ businesses – they just want to get paid.
PowerUp Lending relies on referrals and turning our borrowers into clients and success stories. We’ve seen more ups and downs in the economy than we care to remember. But it has taught us that a steady hand is more important than a quick buck. Not a single relationship is made until the principals of PowerUp Lending have made a personal connection with our borrowers. The more we communicate, the better the outcome and the more consultative we can be.