Angelo Sferrazza, President, The Bridge Fund Provides Timely Funding For New Car Multi-franchise Dealer's Business Expansion

Top Quote Small Businesses are the backbone of the economic recovery, according to most politicians, so why is it so difficult to find funding? Angelo Sferrazza is taking steps to make timely business funding more available via Bridge Funding programs that fund business expansion, operation and development, such as the auto dealer who needed immediate funding to develop a new business opportunities. End Quote
  • (1888PressRelease) November 24, 2010 - "The recent regulations for business lending criteria have made it extremely difficult for businesses to acquire funds for business expansion" says Angelo Sferrazza. "I believe that there is an important need for someone to advocate for the small businesses in the State of Ohio and beyond".

    As an example, a multi-franchise new car dealer needed to expand their existing automobile business as well as develop a new business opportunity for the group which will help create many new jobs as well as positively impact local Ohio communities. The dealer couldn't find traditional financing due to the current economic environment. The dealer's previous financiers were unable to provide timely funding, much less provide it in a timely manner. Time was of the essence in this transaction as there was an additional business opportunity that could also be seized if the funding was available immediately. The dealer called Mr. Sferrazza, President, The Bridge Fund. Mr. Sferrazza funded $300,000.00 to the dealership, secured by a first lien position on the dealer's real estate which was lien free prior to the funding arrangement. This was a small business that needed immediate financial action, that wasn't available via traditional lender criteria.

    Since most politicians agree that small businesses are the mainstay of the economy, shouldn't it be easier for business to find funding to ensure success in the communities around the county and further improve economic development? "This is why the 'Bridge Lending Programs" were developed," says Angelo, "to supply 'short-term' financing for those businesses who need more timing funding".

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