We’re often asked about the kinds of clients Sage serves and what their experience is like. So we asked one of our former clients if he would tell the story of how he came to Sage and what he valued about his company’s experience with us. We were delighted with his response and captured it in the case study below. Note: We’ve changed his name and omitted his businesses’s name for privacy reasons.
Last year, after a 14-year relationship, business owner David’s bank informed him they would not renew his business’ line of credit.
“There were some market factors affecting our business and the fact that that bank was positioning itself to get bought,” David said. “There were a million reasons, but that didn’t really matter at that point. They just said you might want to go find an asset-based lender.”
So David asked his bank and other financial contacts for recommendations and considered a list of about five firms before choosing Sage Business Credit.
“For the most part, they all did the same thing,” David recalled. “But what really set Sage apart was their willingness to say, ‘Yes, we can do this right away.’”
The other lenders indicated it could be months before David’s business was approved for an asset-based line of credit.
“That despite the fact that we were in a pretty good financial position for a company looking for an asset-based lender,” David added.
Back to bankable
Sage not only moved quickly to help David, he said they also expedited the process to help him get back to a bankable position.
“I told Sage we were with them to fill a short-term gap until we could get back to a bank,” he said. “And they were very much understanding of that.”
Within a year, Sage helped David’s business secure traditional bank financing.
“Sage never once tried to lock me in and I never feared there was some secret clause that would tie me to them for months and months,” David said.
“After about a year’s time, they came to me and said it looked like I was ready to be converted to a bank again. And I could tell that was very much their game plan right from the start.”
“They were great people to deal with”
Asked for his best advice to other business owners who find themselves in the same position he did last year, David is direct.
“Suck it up. Find your best ABL and go to work for a year and hope you do better and get back to a traditional bank,” he said.
And, without question, he highly recommends Sage Business Credit.
“They were just great people to deal with. There was no BS,” David said. “They lived up to everything they said they would do for us. I can’t recommend them more highly.”