SAN DIEGO, CA--(Marketwired - Mar 6, 2014) - Dealstruck, Inc., an online crowdlending provider, today announced it has committed a $100,000 "CrowdLine" line of credit for communications infrastructure provider Relldan (formerly Surf-Tel). The growth capital provided through the Dealstruck platform, which connects growing small businesses with accredited investors, will enable Relldan to purchase equipment and materials, also empowering the company to take on larger projects for increased revenue.
"As a small business owner, the potential to receive payment slowly from existing customers can hold us back, requiring me to dip into my personal bank account just to buy materials and pay staff to manage the jobs we take on," said Shawn Emerick, founder and CEO of Relldan. "Dealstruck quickly provided us with a solution with transparent and reasonable terms that will also serve to provide us with sustainable growth."
Relldan designs and installs the right communications infrastructure for many types of businesses. The company has started to receive large purchase orders by global telecom companies. Such opportunities would exponentially grow Relldan's business beyond its growing customer roster, but would also require capital to fund a lengthening payroll and purchase the materials needed to service its many customers at one time. The line of credit from Dealstruck made that possible.
"Most small businesses do not pull in enough revenue to receive attention from the banks. Dealstruck helps the many growing SMBs unable to attain bank loans by offering them growth capital at prices they can afford, very quickly," said Ethan Senturia, co-founder and CEO. "At the same time, investors on the Dealstruck platform can now benefit from the short terms and higher yields typical of asset-based lending. We're uniquely positioned to help Relldan, and are happy to help set the company on the path to becoming bankable."
Using the Dealstruck platform, businesses and investors create online profiles, and Dealstruck screens loan applicants' credit information. Once approved for the platform, investors can select which loans to fund depending on their own interests. The result for borrowers is an easier way to access affordable capital quickly, and lenders get a quick return on their investment.
Direct Lending Investments (DLI), general partner of a fund that owns short-term, high-yield, small business loans, has partnered with Dealstruck to fund small businesses like Relldan. This partnership is an example of how the crowd and institutional players can come together to fund a line-of-credit product to support growing small- to medium-sized businesses.
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/.