FOR IMMEDIATE RELEASE Contact: Mary Haugen Haugen Public Relations, for Wirth Business Credit 612-201-0697 mhaugen@frontiernet.net New Business Financing Resource Comes to Indianapolis Wirth Business Credit creates new opportunities for small businesses INDIANAPOLIS – (July 6, 2007) – Wirth Business Credit, a national business finance operation specializing in providing fast and flexible equipment financing options for small business owners, including startups and others not served by traditional lenders, today announced that David Grigsby has launched his Wirth operation serving Indianapolis and its greater metropolitan area. Grigsby will serve businesses throughout 15 southern Indiana counties: Bartholomew, Brown, Decatur, Fayette, Franklin, Hancock, Hendricks, Johnson, Marion, Monroe, Morgan, Owen, Putnam, Rush and Shelby. “Wirth Business Credit is this market’s first locally-based franchise dedicated to small business financing,” said Grigsby. “It’s great news for local businesses because we combine personalized, face-to-face service with a national finance and leasing company’s depth of resources.” Grigsby’s services immediately struck a chord with Mike Miller of Somerset, Inc., who recently worked with Grigsby to obtain financing from Wirth to install GPS systems in the company’s eight-truck delivery fleet. The order was too small for Somerset’s previously used financing vendor, which had moved on to serving larger businesses. Wirth serves small business owners whose needs range from as little as $5,000 to as much as $300,000. Grigsby brings a diverse professional background to his Wirth operation. A U.S. Marine Corp and reserves veteran, he also has previously managed small businesses and served as clergyman, an electrician and a maintenance engineer for light industrial properties. The latter is a role he held while completing his bachelor’s degree in management and finance. “I was drawn to Wirth Business Credit because it enables me to help small business owners with their unique financial needs,” said Grigsby. “So many small businesses and start-ups never get a chance to succeed because their financing options are limited and their resources are often dried up by the time they get an idea off the ground. Through Wirth, I can provide affordable
equipment leasing and financing options that helps small business owners to retain their working capital so they can succeed.” Grigsby is a member of the Indianapolis and Greenwood chambers of commerce and the Restaurant Hospitality Association of Indiana. Business owners, equipment vendors and consultants who work with small businesses and would like more information on David Grigsby’s Wirth Business Credit services can visit his Web site www.wirthbusinesscredit.com/indysouth or contact him at 317-987-6870 or dgrigsby@wirthbusinesscredit.com.
Wirth fills a gap left by many traditional business financing sources
Commercial lenders often are reluctant to provide crucial financing for start-up businesses and other small businesses. They may require significant down payments and their approval processes can be lengthy. As a result, many small business owners turn to family or friends for loans, which can strain relationships. Or they max out personal credit cards or use home equity loans, which can be expensive and risky alternatives.
Here are a few ways Wirth Business Credit is different from equipment brokers and commercial lenders: Provides customers with personalized service and a direct link to their financing source through Grigsby, who is the local representative. Focuses exclusively on helping small businesses. Finances a wide variety of equipment including computers and software, office equipment and furniture, telephone systems and materials handling equipment, plus soft costs such as installation cost, freight, associated consulting fees and sales tax. Offers a streamlined, one-page application for transactions under $50,000, which can be approved within hours. Larger transactions require a bit more information, but still can be approved in just 48 hours. Provides fixed rate leases so business owners don’t have to worry about rising interest rates impacting their bottom line.
Leasing is a major focus for Wirth. According to the Equipment Leasing Association,
approximately 80 percent of the nation’s 24.7 million small businesses lease equipment
“Leasing helps small businesses to forecast and manage cash flow and preserve cash and credit lines for their growth,” explained Grigsby. “At Wirth, we understand what it takes to build a business from the ground up and we know that sound financing can be the difference between success and closing the doors,” said Matt Boettner, Wirth Business Credit vice president and general manager. “We’ve created a company committed to delivering financing options that meet the needs of small businesses, and small business owners have responded.” About Wirth Business Credit Wirth Business Credit and its affiliates have nearly 20 years of experience helping small businesses succeed. Wirth (www.wirthbusinesscredit.com) is a subsidiary of Winmark Corporation (NASDAQ: WINA), a franchisor of more than 800 small businesses nationwide. Winmark Corporation’s award-winning family of brands represents the largest resale retailer in North America: Once Upon A Child®, Plato’s Closet®, Play It Again Sports® and Music Go Round®. Each business recycles goods and offers affordable options for consumers by buying and reselling gently-used brand name items such as clothing, sports equipment, musical instruments, baby equipment and furniture. Winmark also owns Winmark Capital, which offers tailored leasing programs for medium and large-sized companies. ###