$12 Million Revolving Line of Credit
In late 2012, our Company was in the marketplace looking to replace our existing banking arrangement with an alternative lending source who would offer more flexibility than our existing lender. More importantly though, we were looking for a firm who would listen to our needs, and develop a business relationship with us, where it was a win-win for both parties, and not one where our company was considered just another file in their portfolio.
We met representatives of Waygar Inc in January of 2013 where we presented our long-term business plan, as well as our short and long-term financing needs. After 2 to 3 subsequent meetings, our first term loan was finalized with Waygar in May of the same year.
Waygar’s experience in the marketplace, coupled with their ability to work quickly, led to a creative offer sheet dealing first with our equipment term loan requirements while also committing to additional funds when needed, something we considered vital in any new lending arrangement.
We consider Waygar a valued partner as we look to strengthen and grow our business, and we would highly recommend them as a lending source.
