Perry Spoul needed to act fast. As the owner of the Rappanhannock Mattress Company, he had an opportunity to buy a key piece of equipment on the cheap: a $35,000 delivery truck for a mere $17,000. He knew the purchase would bolster his bandwidth and lead to an increase in sales. A money making opportunity was within reach; however, he didn’t have the cash on hand. That’s when Perry turned to On Deck for the capital he needed.
After a quick approval process, Perry received a $30,000 small business loan from On Deck — less than seven business days from start to finish. He was able to buy the delivery truck, and put the rest towards stocking up on inventory. And On Deck couldn’t be prouder of the outcome. “Thanks to the money On Deck injected into my business, I’ve been able to grow,” Perry said of his small business loan.
The On Deck Team wishes Rappanhannock Mattress Company continued growth and the best of luck this Spring!
Related Articles
