New Business Financing Resource Comes to Denver - August 2008
FOR IMMEDIATE RELEASE
Contact: Mary Haugen
Haugen Public Relations, for Wirth Business Credit
612-201-0697
mhaugen@frontiernet.net
New Business Financing Resource Comes to Denver
Wirth Business Credit creates new opportunities for small businesses
LITTLETON, Colo. (Aug. 2008) – Tyler McCarty 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 Littleton and he works with small business owners businesses and equipment vendors that sell to small businesses throughout the Denver metro area.
Wirth serves small business owners whose financing needs range from $5,000 to $300,000. Leasing is a major focus for Wirth. 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.
“My Wirth operation provides local small business owners with face-to-face service and a direct connection to a national finance and leasing company’s depth of resources,” said McCarty. “This is great news for small business owners and entrepreneurs who are struggling to secure financing from traditional lenders, especially in today’s economy, and to manage their finances so they have working capital to grow. Through Wirth, I can provide affordable, flexible and fast equipment leasing and financing options that help small businesses succeed. I am also eager to partner with equipment vendors to help them extend their sales into the small business market.”
With more than 15 years of experience in the Denver market’s banking and financial services industry, McCarty has worked extensively with local small business owners to support their financing needs and he understands the limitations they sometimes face with traditional lenders. He saw Wirth as a unique opportunity to provide personalized service and greater flexibility for the area’s underserved small business owners, serving as their local representative for a national company that specializes in small business finance and truly understands the market’s needs and challenges.
Business owners, equipment vendors and consultants who work with small businesses can find more information on Tyler McCarty’s Wirth Business Credit services at www.wirthbusinesscredit.com/denver or they can call his office at 303-953-2374.
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 – and these options are losing effectivness with credit card companies reining in limits and home values declining. However, those options 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 North America: Once Upon A Child®, Plato’s Closet®, Play It Again Sports® and Music Go Round®. Each business recycles goods and offers affordable options for consumers by buying and reselling quality used brand name items such as clothing, sports equipment, musical instruments, baby equipment and furniture. Winmark also owns Winmark Capital, which offers tailored leasing programs for medium and large-sized companies.
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