Jasvir Sangha, owner of Chow Time Pizza, came to Access Plus Capital seeking a small business loan for expanding her restaurant. She was hoping to add an additional employee to her team, expand her food menu, and make improvements to her pizza oven. Sangha had previously reached out to traditional lenders to secure funding but was unsuccessful. She was repeatedly denied access to operating capital because she was unable to meet the stringent credit requirements of a traditional small business bank loan. With no other options, Sangha was forced to rely on personal credit cards to cover her business expenses, even though the high-interest rates were eating away at her business profits. During a conversation with a colleague, it was suggested that Sangha looks into the funding options available through Access Plus Capital. The Access Plus Capital Nanoloan, created for small business owners seeking between $5,000 – $20,000 in funding, was a perfect fit for her since it required minimal paperwork and a credit score of just 550. Even better, the low-interest rate would allow her to put more of the profits back into her company. The business services team at Access Plus Capital worked closely with Sangha to prepare her to apply for and receive the loan, investing 16 hours in pre-loan technical assistance and consulting. Their dedication and commitment to her success paid off, and she was able to be approved for $10,000 in capital. Since receiving funding Sangha has been able to hire one part-time customer service/food prep employee. She has also begun working on expanding her menu and repairing her pizza oven.
As a female owner-operator of a small rural business, Jasvir Sangha is a role model to other entrepreneurs. Access to working capital has better positioned her to meet the needs of her community and to continue her path toward growth and success. She hopes to one day purchase the building where Chow Time Pizza operates and plans to return to Access Plus Capital for additional funding when she is ready to move forward with the building purchase.