HomeCoast In Action

What Our Clients Are Saying About HomeCoast

"I own a small printing company and with the economy the way it's been, times have been tough. I was having an awful time making payroll and was sure that I was going to have to cut staff soon. When I met with my HomeCoast Account Executive, Mark, I really didn't think he could help me. My credit is awful. Banks won't touch me. I just assumed they would come here to tell me no and make me feel like I am worthless like my banker did. As Mark was talking to me about my business, he suddenly stopped and asked me about my printing press on the production floor. As it turns out, HomeCoast was able to set up a line of credit against my printing press and gave me the capital I needed to meet payroll and weather this storm. I�m so grateful!"
-Carol, Owner of a Local Printing Company

"I have been approached by several factoring companies about doing business with them. I needed to fix my cash flow problem, but I am a control freak and did not want to hand over control of my cash flow to a factoring company. This was one of the first issues discussed with HomeCoast when they came to visit me. As they explained to me how an asset-based line of credit works, they showed me how I can manage my money real time. I was hooked! I have the cash I need and the control I require. Thanks for listening to me and understanding my individual needs!"
-Ron, President and CEO of an Engineering Firm

"I really feel sorry for my HomeCoast Account Executive! My situation was so complicated, involving my inventory, purchase orders, some commercial real estate in another state, and 6 pieces of machinery. I was trying to open up a new production facility and had been turned down by the bank and even tried finding an investment partner. Jessica was so patient with me and took the time to put together a plan. I am so busy and often unavailable, so I was constantly amazed at how she always followed up with me. It ended up taking a few weeks to get done, but in the end I have an affordable line of credit and my new facility is being built as I speak. I can honestly say that Jessica and HomeCoast surpassed all my expectations of what a finance company can and should be. I highly recommend HomeCoast to anyone in need of cash."
-Kathleen, Owner of a Textile Manufacturer

Spotlight On Success

Problem: A business consulting firm has a partner that decides to retire and cash out of the business. This leaves the existing company strapped for cash. The remaining partner wants a long-term solution for their issue but only wants to pay for the cash he needs, when he needs it.
Solution: HomeCoast sets the company up with an asset-based line of credit that the business owner can draw on when he sees fit.
Result: The consulting firm weathered the initial storm of not only a lack of cash, but a transition in leadership. Within the last month, they just purchased another consulting company in a key market.

Problem: A computer hosting company realizes that their equipment is getting outdated and they are no longer competitive. They are spending more money on repairs and parts than some of the equipment is actually worth.
Solution: An equipment appraiser determines that a few large mainframes and other equipment that are still in working order, plus numerous receivables. HomeCoast was able to finance one of the two mainframes and some other ancillary equipment, along with their receivables to get the cash they need to upgrade their equipment.
Result: They upgraded their equipment and regularly use the line of credit for new technology as it comes out, allowing them to have a competitive advantage.

Problem: An executive recruiting firm has a partner that has overstayed his welcome. He is running off valuable employees and has a buyout clause in place. The other three partners want to buy him out, but do not have the access to cash to do so. They solicit their banker friend for the capital to do so, but to no avail.
Solution: They reach an agreement on the buyout with the fourth partner and agree to pay him an additional fee to allow HomeCoast to set up an asset-based line of credit to proceed. The corporate council drafts up the documents of the buyout and HomeCoast is able to set the line up in the other three partners’ names only.
Result: The problematic fourth partner was bought out and now has nothing to do with the company. The work environment and company morale has drastically improved.