SOURCE: Dealstruck

Dealstruck

December 08, 2014 08:00 ET

Masters & Associates Electrical Contractors of California (MAECC) Secures Line of Credit From Dealstruck for Business Expansion

Crowdlending Platform Provides Commercial Electrical Services Company With Quick Access to Growth Capital

SAN DIEGO, CA--(Marketwired - Dec 8, 2014) - Online small business lender Dealstruck, Inc has provided growth capital to Masters & Associates Electrical Contractors of California (MAECC). Dealstruck's working capital line of credit of will provide the California-based company with greater cash flow to assist with its rapid expansion.

"We found traditional banks to be very restrictive, but we needed help quickly," said Ron Harvell, President of MAECC. "Our payroll periods are shorter than the payment periods we offer clients. This constricts our cash flow and puts increased stress on our organization. Dealstruck uniquely offered comfortable, transparent terms, along with a process that worked for us. They're easy to work with, friendly and responsive. We've got the right loan now and thanks to Dealstruck, we can continue sustainable growth."

MAECC has experienced aggressive growth since its inception in 2008. The company's high-profile commercial and industrial sites are concentrated in downtown Los Angeles and throughout Northern California. The beginning and end phases of projects require a lot of cash, so long collection periods restrict the company's ability to take on new work or complete existing projects quickly. Dealstruck's asset-based line of credit lets a business pay down its debt at any time throughout the month as its collect payments from its customers. These repayments are immediately applied against the line, resulting in increased availability. MAECC's line of credit from Dealstruck has enabled the company to accept every project request, quickly increasing revenue.

"MAECC is a great example of a profitable small business that struggled to find viable loan terms that would support its growth, not drain its cash flow," said Candace Klein, Dealstruck Chief Strategy Officer. "As a service company, its revenue model necessitates a loan that will work with the ebb and flow of its business. The Dealstruck line of credit caters to growing organizations in need of access to cash flow. MAECC is flourishing, and we're glad to help set the company on the path to becoming bankable."

Dealstruck was the first marketplace lender to offer businesses and investors the opportunity to access multiple credit products. Its online platform connects growing small businesses with multiple investors, providing borrowers with the growth capital they need quickly and easily. Dealstruck's term loan product and its 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 multiple 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 marketplace lender to offer multiple products to SMBs. For more information, please visit https://www.dealstruck.com/.