BELLEVUE, Wash., Dec. 10, 2015 /PRNewswire/ -- Guidant Financial today announced that it has surpassed its goal to put $350 million in financing to work for U.S. small businesses in 2015. The company – which is the premier provider of rollovers for business start-ups (ROBS) in addition to traditional funding options such as SBA loans, portfolio loans and unsecured credit – exceeded its goal and has now helped entrepreneurs secure approximately $357 million in funding in 2015.
Sister duo Tisha Rosamond and Shannon Van Meter, franchise co-owners of Nothing Bundt Cakes in Sandy Springs, Ga., were the entrepreneurs who put Guidant Financial over the $350 million mark. Shannon and Tisha invested their retirement funds using Guidant's ROBS financing method to pay back a Small Business Administration (SBA) loan, providing the funding needed to continue serving delicious custom cakes to the community. In total, 1,698 businesses contributed to the milestone with a total of $357 million in funding. Entrepreneurs started businesses in a wide range of industries, with the majority in food and beverage, business services, retail and health and beauty.
"We knew reaching the $350 million mark was an aggressive goal when we set it early this year, and certainly a big jump from the $290 million mark we hit in 2014," said Guidant CEO and co-founder, David Nilssen. "We are proud to have reached the goal a month ahead of schedule. We live and breathe small business and are elated to see how much capital is injected into the economy as a result of our team's effort."
To help project the estimated impact of $350 million on the economy, Guidant Financial looked at an Economic Impact of Franchised Businesses report from the International Franchise Association. According to the report's formula, an infusion of $350 million in capital could add approximately 18,457 U.S. jobs to the economy, $960 million toward overall GDP and produce $1.6 billion in economic output.
While access to credit remains an issue, small businesses are creating two out of every three net new jobs in the United States, according to a recent Harvard Business School report entitled "The State of Small Business Lending." Likewise, Guidant Financial is on pace to nearly triple their SBA lending for the second consecutive year.
"It's exciting to say we helped entrepreneurs deploy $350 million, but what impresses me more is our clients' entrepreneurial spirit," added Nilssen. "We're thrilled to support them and honored to play a role in growing the small business engine of America."
Since 2003, Guidant Financial has helped 11,000 entrepreneurs in all 50 states to deploy nearly $3 billion in funding to start or acquire a small business or franchise. These businesses have in turn created more than 60,000 U.S. jobs.
About Guidant Financial
Guidant Financial works with entrepreneurs to identify, evaluate and deploy intelligent business financing strategies. Their services include, but are not limited to, rollovers as business start-ups (ROBS), SBA loans, unsecured credit and portfolio loans. Visit Guidant on the web at guidantfinancial.com.
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SOURCE Guidant Financial