|Tags:||Just Cellular, small business, UPS Capital, UPS Capital Cargo Finance|
In late 1848 and 1849, gold rush fever brought over 300,000 people into the Golden State. Although there aren’t any “49ers” panning for gold anymore, I feel like one every day when I see great companies like Just Cellular hit pay dirt with our UPS Capital Cargo Finance® product.
Eric Kirkland claimed a gold mine of his own when he created Just Cellular, a small business with products in high demand, a skilled labor force, an incredibly sophisticated ERP system, high touch customer service and a dynamite business plan.
The only thing missing was the working capital needed to help him grow his sales.
Like so many small businesses, Eric was self-financing, or using the equity in his company to grow. But to really propel his business to the next level, he needed to raise capital by selling equity in his company. While selling equity brings in new partners and new ideas, it can also result in an owner losing control of the company. Eric fought this prospect tooth and nail.
Eric learned about UPS Capital Cargo Finance, an “in-transit” inventory finance program that allows importers to monetize inventories that ride within the UPS network. It turned out to be such a great fit for Just Cellular that its annual sales doubled in three years. And, most importantly, it allowed Eric to retain 100% of his business.
Read more about Just Cellular’s international expansion and how it’s mining the many solutions of UPS.