Despite being rejected by numerous banks for a working capital business loan, my family was able to find ways to succeed in the business world. We had a business that was facing an expiring lease at our current location.

Our landlord was desperate to make a profit, so they raised the monthly rental by thirty percent. Of course there was no way we were going to make this type of change, so we decided to find a new location.

This was going to be a risky move because many of our customers were not English speaking. Despite our efforts to communicate the future change, we ended up losing numerous customers.

We began a search for a new location, and we hoped that we would be able to find something that could benefit us and be convenient for our customers.

We were extremely lucky to find a location across the street from our old location. The size of the property was about two thirds what we had before, but the rent was one sixth of the cost.

We found a landlord who simply wanted to fill the space, and he did not want to cheat us out of the location. We signed a two year contract, and began our move. Our previous landlord did not like that we were leaving, so they demanded we pay the remaining three months of rent immediately.

That was over sixty thousand dollars, and we did not have those funds available at the time. We were denied for a working capital business loan, so we had to find alternative sources of funding.

This was disheartening because we had found a great future location. We contacted a company that could provide us with a merchant advance and inquired about our chances of receiving a merchant advance.

We met all of their prerequisites, but they were worried about us moving locations. Their regulations stipulated that we have at least twelve months left on our lease for any merchant advance. We stressed how our location was simply across the street from our current location, and we hoped this would be enough.

Apparently, they sent someone to inspect the old and new locations, and decided that we should be given the advance. Thanks to the advance we were able to move on from our old location and continue to succeed in our new location.