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Friday Q&A with Doug Fuller: A Well-Seasoned Entrepreneur

Each week, we’ll interview one of our experienced Finance Officers for a brief question and answer session about something interesting from the week, along with tips and tricks to make your finance process easier, and their unique perspective on the industries and customers we work with.

This week, we caught up with Doug Fuller in our Kansas City office who helped fund a deal that would have been hard to gain traction at some other lending companies in the country due to the company’s low time-in-business. Never one to overlook all of the details, we were able to find this well-seasoned entrepreneur’s deal a home.


Q: In previous Q&As, we talked about the fact that we have built a business on helping customers with non-traditional profiles. Was that the case here?

A: It was a new business enterprise which can be more difficult for other lenders. In this case, the customer was a well-seasoned entrepreneur looking for $160,000 of capital to fund his entire equipment acquisition. When you’re looking at lending for a more risky profile, like with new businesses, there are a lot of variables that will give other lenders pause when reviewing an application like this.

Q: Did this make the loan process any longer than what you would consider “normal”?

A: No, everything ran smoothly, as our processes are well-equipped for moving along in a timely manner ~ even with applicants that fit a non-traditional profile.

Q: How were we able to help this customer in the end?

A: We were able to provide the $160,000 of capital to fund his entire equipment acquisition, and provide the opportunity for another business owner to live out the American Dream!

Q: What advice do you have for other customers who have a similar profile?

A: Don’t be discouraged by certain lenders turning you away if you are new in business. Different lenders have different areas of focus… one size does not fit all! Keep looking, and be ready to share details about your business ~ tell your story! You may be able to find a lender that is right for you.

Check back in a couple weeks as we talk with another one of our finance officers! Stay up to date and learn more from our valuable resources at www.AmericanEFS.com/The-Bottom-Line