FOR IMMEDIATE RELEASE
Contact: Mary Haugen
Haugen Public Relations, for Wirth Business Credit
New Business Financing Resource Comes to
Wirth Business Credit creates new opportunities for small businesses
NAPERVILLE, Ill. (June 30, 2008) – Jerry Huang today announced the launch of his Wirth Business Credit operation, part of a national business finance company that specializes in providing small business owners with fast and flexible financing options. His office is located in
Wirth serves small business owners whose financing needs range from $5,000 to $500,000 by providing lease financing for business critical equipment. According to a recent Equipment and Leasing Finance Association Report, U.S. Businesses leased nearly $600 billion in capital goods in 2006, yet credit lines are the dominant form of financing in the small business segment. Currently, small businesses use leasing for less than 7 percent of their equipment investments, while larger businesses use leasing for nearly one third of their equipment investments. Wirth sees an opportunity to bring leasing as a financing option to the underserved small business market, making more efficient use of small businesses’ existing capital base.
Huang saw a unique opportunity through Wirth to support the area’s underserved small business market as a local representative for a national company that specializes in small business finance. “Wirth focuses exclusively on small business owners,” he explained. Huang also notes that he and his sales directors, Darren Callahan and Frank Rogers, all have significant backgrounds in small business as owners, executives and vendors, covering a wide range of industries such as manufacturing, restaurants and retail, insurance, and technology. “As former small business owners, my entire team understands the special challenges small businesses face. We want to provide financing, but also partnership to support the growth of businesses in the region.”
“Wirth provides local business owners with face-to-face service and a direct connection to a national finance and leasing company’s depth of resources,” he explained. “We look forward to supporting this area’s small business owners and entrepreneurs, many of whom may be struggling to secure financing and credit in today’s economy, and to help them manage their finances so they have working capital to grow. Through Wirth, we can provide affordable, flexible and fast equipment leasing and financing options that help businesses succeed.”
Business owners, equipment vendors and consultants who work with small businesses can find more information on Wirth Business Credit’s local services at www.wirthchicago.com or they can call Jerry Huang directly at 630-303-9325.
Wirth fills a gap left by many traditional business financing sources
Commercial lenders often are reluctant to provide crucial financing for small businesses. They may require significant down payments and their approval processes can be lengthy. As a result, many small business owners turn to family or friends for loans, which can strain relationships. Or they max out personal credit cards or use home equity loans, which can be expensive and risky alternatives. However, those options are losing are losing viability as credit card companies tighten credit lines, even on credit-worthy customers, and home values continue to decline.
Here are a few ways Wirth Business Credit is different from equipment leasing brokers and commercial lenders:
- Provides customers with personalized service and a direct link to their financing source.
- Focuses exclusively on helping small businesses.
- Finances a wide variety of items including computers and software, office equipment and furniture, restaurant equipment, auto repair equipment, construction equipment, telephone systems and materials handling equipment, plus soft costs such as installation cost, freight, associated consulting fees and sales tax.
- Offers a streamlined, one-page application for transactions under $50,000, which can be approved within hours. Larger transactions require a bit more information, but still can be approved in just 48 hours.
- Provides fixed rate leases so business owners don’t have to worry about rising interest rates impacting their bottom line
- Can structure monthly payments to fit the customer’s budget.
“At Wirth, we understand what it takes to build a business from the ground up and we know that sound financing can be the difference between success and closing the doors,” said Matt Boettner, Wirth Business Credit vice president and general manager. “We’ve created a company committed to delivering financing options that meet the needs of small businesses, and small business owners have responded.”
About Wirth Business Credit
Wirth Business Credit and its affiliates have nearly 20 years of experience helping small businesses succeed. Wirth is a subsidiary of Winmark Corporation (NASDAQ: WINA), a franchisor of more than 850 small businesses nationwide. Winmark Corporation’s award-winning family of brands represents the largest resale retailer in