A loan of $8,000 helped working capital to increase inventory and successfully fill customers' orders on time, without accumulating bank fees.

Michael's story

Michael is the owner of Data Alliance Information Technology, a network hardware business. He founded the company in 2007 after working for a company that performed similar operations but without the focus on customer service that Michael really values.

At his previous job, Michael worked his way up from sales manager to controller, and realized one day, while the owner was away on vacation, that he knew enough to run the company himself. He has since proven that his instinct was correct: less than a week after starting his own business in July of 2007 he had made his first big sale, and this past year the company experienced a 350% growth rate.

Not just getting through the recession but growing through it is something that Michael cites as his greatest accomplishment thus far. Michael explains that, as he saw the economic downturn begin, “I knew I had to kick it into another gear. I’ve worked 15-hour days, six days a week, and thanks to hard work we are growing. It’s a very exciting time for us!”

Despite his experience in the industry, high customer retention rate, and business growth, Michael was repeatedly turned down when he approached banks for a loan. “I don’t know how many times I sat there and they told me they could lend to me, and then declined me because in the end I didn’t have collateral. It didn't matter that I had been in business for three years and had seen a large increase in sales... I couldn’t believe it!”

A $8,000 loan from Opportunity Fund will act as a reliable source of working capital, something that is necessary for Michael to fill his customers' orders in time and avoid bank fees, and to continue growing the business. He is hoping to soon be able to hire additional employees and move the business from a satellite location to a commercial office space. “I’m always striving to go the distance, and go beyond what I’ve already accomplished.”

To find out more about Data Alliance Information Technology, visit: www.dataallianceit.com

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