Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

A Very Merry Q & A with Santa Claus

B2B: A CUSTOMIZED Funding SOLUTION FOR SANTA’S WORKSHOP SAVED CHRISTMAS, AFTER SANTA FORGOT TO CHECK HIS LIST TWICE.

Business name: Santa’s Workshop LLC.
Location: Santa Claus Village in the North Pole, 96930 Arctic Circle
Amount funded: $500,000
Owners: Mr. and Mrs. Santa Claus

Santa, we can’t believe it’s really you! Please, tell us a bit about Santa’s Workshop.

Well, we’ve been operating for hundreds of years. We started in Europe where some people may still know me as St. Nicholas. Through the years, our spirit of giving and magic has evolved into what is now known as Santa’s workshop. We have customers all over the world located in one hundred and sixty-one countries. We also have a very large and dedicated elf workforce. I can’t keep a head count on them all! I can tell you with confidence that we have eight reindeer on staff. They get me around.

Why did you need funding?

Every year we have a big responsibility to bring toys to millions of nice children all around the world. And so, for me and the elves to prepare these toys, we need a lot of working capital. This year, there was an unexpected shortage of materials needed for production. You see, we didn’t expect so many children to land on the nice list this year. When the extra names came rolling in, it caught us off guard and with the big day right around the corner, we were already falling behind.

We desperately needed the capital to buy pieces of wood, little wheels, batteries, and whirly birds. We had a fast approaching deadline to make all the toys that little kids know and love that it didn’t look like we would meet. Usually, it’s a smooth process: we buy the materials far in advance in preparation for the holiday season and store them until elves are ready to build. But sadly, I didn’t check the list twice and I miscalculated.

What challenges were you experiencing before finding a funding solution?

We had gone to banks and other online funders and they all said the same things to me: ‘It seems Santa, that your business only operates one day out of the year, and if you are only operating one day out of the year, how could you possibly have enough money to cover the funding payments that are due?’

And so, they would turn us down. They didn’t understand the magic of my workshop and what I needed to save Christmas.

I found that most traditional funding companies look for long active businesses with flat operating revenues and sales and procedures. Here in Santa’s workshop, we work 365 days a year, but because we bring our products to our customers only one day of the year, we were deemed unqualified. That’s where Reliant came in.

Was there a specific reason you chose to work with Reliant Funding?

I appreciated the way they treated me and even Mrs. Claus loved them. You see, many other companies before Reliant asked me for my tax returns, bank statements and required a personal guarantee. I must say, Mrs. Claus did not like the idea of a personal guarantee.  Also, here in the North Pole we don’t file taxes, so I didn’t have a tax return to show. Reliant didn’t ask for too much paperwork or a personal guarantee, and this made the process quick and easy. I gave my bank statements and I was able to get the funding from Reliant fast. Mrs. Claus was happy with the arrangement, and so was I.

In addition to solving your initial challenge, did your relationship with Reliant Funding help with any other issues?

The best part about my experience with Reliant Funding was the National Account Executive they assigned to me, Paul – he was very attentive to our needs. He listened to my business problems and helped me figure out how to best leverage the funds to be successful. He’s been more of a business advisor than just a funding representative. He did a great job of explaining how the product worked, when I would get the funding, and how we would pay down the balance. He is on the nice list this year.

How long did it take to get up and running with our services?

It took about 3 reindeer days.

Reindeer days?

Ah yes, we call them reindeer days here. For those that don’t know, a reindeer day is equal to about six hours in real days.

How did our service help move your business forward?

You know, my only goal is to make sure the children of the world have the greatest Christmas ever, and thanks to Reliant Funding, we will do just that. I was able to buy the materials that we needed just in time to make the millions of toys for the good children this year and save Christmas.

I also used some of the money to purchase a new suit. So many people leave cookies for me and I eat them all. Although many people have switched to healthier almond milk, it’s still a lot of cookies… and so a new red suit in a bigger size was in order. Please don’t tell Mrs. Claus. She worries about my waistline.

Anything else?

Yes, ahem…. HO! HO! HO! Merry Christmas! Thank you, Reliant Funding!

The post A Very Merry Q & A with Santa Claus appeared first on Reliant Funding.



This post first appeared on Small Business Blog | Reliant Funding, please read the originial post: here

Share the post

A Very Merry Q & A with Santa Claus

×

Subscribe to Small Business Blog | Reliant Funding

Get updates delivered right to your inbox!

Thank you for your subscription

×