Lack of growth was impacting a Diesel Repair Shop, however, the real obstacle was a lack of necessary capital to pay for the growth.
In short order, Ascend was able to bring an expert in to analyze how to ascertain the money to take on new fleet business for the shop. Once this was done, a quick introduction to one of our lending partners produced a working line of credit ($500,000).
These monies were critical to the company doubling its size (number of fleet trucks serviced) in just under a quarter. The new business was also able to be at margins sufficient enough to cover the cost of money in the AR line.
