SOURCE: Dealstruck

Dealstruck

November 19, 2014 08:00 ET

Atrium Painting Secures Growth Capital From Dealstruck

Crowdlending Platform Provides External Painting and Waterproofing Services Vendor With CrowdLine Line of Credit

SAN DIEGO, CA--(Marketwired - Nov 19, 2014) - Online crowdlending provider Dealstruck, Inc has provided growth capital to Florida-based external home and commercial painter and waterproofing services vendor Atrium Painting. Dealstruck's CrowdLine 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."

Dealstruck was the first crowdlending provider to offer businesses and investors the opportunity to access multiple credit products. Its online platform connects growing small businesses with accredited investors, providing borrowers with the growth capital they need quickly and easily, and providing investors with freedom over which opportunities they pursue. Dealstruck's CrowdLoan term loan product and its CrowdLine working capital line of credit were designed for growing, profitable small businesses looking for fast, fair and transparent financing.

About Dealstruck
The Dealstruck lending marketplace connects profitable, small- and medium-sized businesses (SMBs) with innovative credit solutions funded by individual and institutional accredited investors. Unlike the one-size-fits-all approach offered to them by banks and the high-cost, short-term credit offered to them by alternative lenders, Dealstruck provides growing SMBs with a suite of products that give them a credible and transparent path to bankable. Dealstruck is the first crowdlending platform to offer multiple products to SMBs, and the first to allow investors the freedom to choose specific investments. For more information, please visit https://www.dealstruck.com/.