Dealstruck Provides Atrium Painting Credit Line
Dealstruck provided growth capital to Atrium Painting. A line of credit, designed for growing, profitable small businesses, will provide the company with greater cash flow.
“Our growth into a commercial multi-services vendor dramatically increased our speed of growth, but it also brought quickly-rising costs,” said Patrick Dunn, Atrium Painting founder and president. “Increased overhead, including liability and worker’s compensation insurance and a larger staff on payroll impacted our ability to operate day-to-day while taking on new projects. Thanks to a line of credit from Dealstruck with loan terms that make sense for our business, we’re able to keep all of the balls in the air while continuing our rapid expansion.”
Dunn established Atrium Painting in 2005 after being laid off from another painting job. Aggressive growth over the last ten years led Dunn to high interest-rate loan options before he learned of Dealstruck’s asset-based CrowdLine line of credit. The CrowdLine lets a business pay down its credit loan at any time throughout the month as the business collect payments from its customers. These repayments are immediately applied against the line, resulting in increased availability. Atrium Painting’s line of credit from Dealstruck has enabled the company to accept every project request while covering its payroll and insurance expenses. This has enabled Atrium to quickly increase its revenue.
“Dealstruck’s CrowdLine was a great solution for Atrium, which is one of the many profitable small businesses in need of growth capital yet struggling to find loan terms that will enable continued success, said Candace Klein, Dealstruck chief strategy officer. “We’re honored to help Patrick and his team by providing increased access to cash flow, and we’re happy to have set the company on the path to becoming bankable.”