Daily News: May 21, 2012

Diamond Provides Credit Line to Security Services Provider

Diamond Business Credit announced that it funded a $100,000 line of credit to a company that provides specialized professional security services including luxury apartment and condominium security, executive protection and transportation, event management and other commercial account applications.

The principal’s impressive experience and tenure in the industry combined with the current market need for high-end specialized security services made this the right time for him to make the transition from employee to entrepreneur.

Given the startup nature of the business and the rapid growth model, traditional bank financing was not a current option. A flexible and expandable asset-based line of credit was exactly the right financial tool to grow the enterprise.

With the help of a knowledgeable intermediary, Diamond Business Credit was contacted and, within 24 hours of receiving the completed loan application, the deal was approved. Due diligence and funding followed within a week and a new entrepreneur was off and running – creating jobs, meeting payrolls and planning the growth of the business confident that it now has the working capital support to make it happen.