KQED (a NPR-member radio station) recently featured Tina Paclebar, a Fundbox client, in its profile on alternative loans for small businesses. Listen to the full story here:
The KQED Fintech Loans series captures the challenges faced by business owners who seek financial resources to grow their business. Many small business loan applications are declined by traditional funding sources because the business owner’s personal credit does not meet a minimum threshold. As a result, businesses struggle to make investments that could take their success to the next level.
Likewise, small businesses can also be the targets of aggressive sales tactics, or hidden fees that significantly inflate the total cost of borrowing.
Tina had a small blemish on her personal credit that caused big banks to reject her applications for business funding. “Big banks have not worked for us” said Tina, owner of RevEx Inc., a logistics company based in Hayward, CA. That’s why she turned to Fundbox for help. Over time Fundbox was able to approve her for $22,500 in credit by looking at RevEx’s business fundamentals (not Tina’s personal credit). Tina has used her Fundbox Credit™ to pay for vehicles and other expenses to grow her business.
We’re proud to work with great businesses like RevEx.