As she entered one of the makeshift classrooms, where during normal times up to 30 students would be found, Denise O’Donoghue found a Refugee Hope Partners staff member doing a happy dance, celebrating with seven refugee children. The cause for the dance—news that their non-profit was selected to receive a $50,000 Lendio Small Business Grant.

The Pain of Displacement

Refugee Hope Partners is one of the hundreds of worthy small businesses and organizations that submitted their stories to Lendio, in hopes of being selected for one of 23 small business grants. Ultimately, it was clear which of those deserved the top prize.

In one neighborhood of Raleigh, North Carolina, is an apartment complex that houses nearly 100 refugee families from over 30 countries around the world. Refugee Hope Partners, at any given time, is assisting those refugee families in acclimating and building a new life. Refugees come from all over the world fleeing persecution, war, violence, and a myriad of other challenges. 

“One of our newest families, a mother and her two children who moved to Raleigh this summer, came to us after losing their father in Afghanistan,” said O’Donoghue, Operations Director of Refugee Hope Partners. “We later found out that the mother had sold a kidney on the black market in order to feed her children. Unfortunately, now her existing kidney has problems. So we’ve found ourselves working with her to get on a transplant list.”

Arranging for organ transplants is not the norm, but assistance is not limited to any one thing. It comes in many forms, whether that be finding employment, filing for unemployment, arranging for medical services, learning English, or even dealing with car insurance issues. But their main focus remains on the some 130 elementary through middle-school aged children: helping them learn English, assisting with homework, and ensuring they don’t fall behind.

“Our first concern is always education,” continues O’Donoghue. “We worry because the kids can fall behind fast. Immediately children are put into the grade corresponding to their age. This already has them at a disadvantage. Now they are being asked to catch up remotely and with limited access to technology. It’s tearing at our hearts, knowing they will just get further behind.”

A Halt In Programming

The organization is made up of a small army of full-time, part-time, and volunteer staff who help in a variety of ways. But one thing they all have in common is a shared goal of seeing these men, women, and children thrive in their new home.

As with many businesses and organizations, Refugee Hope Partner’s operations came to a screeching halt when COVID-19 hit. Since most of their services involve face-to-face interaction, the staff was forced to find new ways to support their friends.

First, they knew they needed to educate the parents and adults about the pandemic and how to protect themselves and their families’ health. Since so many of the adults work in hospitality or service industries, many found themselves out of a job. The organization worked to ensure that everyone had enough food to feed their families. One staff member became an expert in filing for unemployment in order to help those who needed to apply.

Despite the pain and hardship, the group has celebrated births, high school graduations, first-time home purchases, and new families entering into the community. 

Moving Forward With Hope

The mission and work of Refugee Hope Partners continue to move forward, albeit a little differently and physically distanced. For families who often come from countries where in-home hospitality is a primary cultural practice, this has proven to be one of the more painful parts of the pandemic.

“Not being able to be with a lot of people and hug them, especially the children, has been hard for most of us,” said O’Donoghue. “They want to be loved. And the parents love hosting us in their homes, but for their and our safety, we’ve had to discontinue in-home visits.”

Refugee Hope Partners’ PPP loan, which was facilitated by Lendio, coupled with the Lendio grant, will enable it to move forward without the barrier of financial burden. The organization has already rented another space to accommodate more children for safe and distanced learning. Next, they plan to invest in finding interns who can help volunteer, since many of their older volunteers are in at-risk age groups and staying home for the time being.

No matter what comes its way, O’Donoghue says Refugee Hope Partners will continue its mission of making these residents feel welcome and at home.

Like many entrepreneurs, Hiral Zalavadia started his career in an entirely different industry and profession. A Los Angeles and New York-based attorney, he was used to the professional grind—waking up early for long days, every day. He knew he needed to look the part of a professional attorney, but didn’t have the time or desire to do the shopping. As he looked for services that could help maintain a professional wardrobe he found plenty of subscription options, but they were overpriced and didn’t offer the value he wanted. So, he decided to form his own.

Stitching Together an Empire

In May of 2019, Zalavadia and his wife formed Stately—a stylist-curated subscription service delivering top men’s clothing brands to doorsteps across the country. Stately enables men from all backgrounds to look and dress the part of a modern professional.

In just a year, and with just a handful of employees, Stately has grown its membership to over 10,000. Stately delivers subscriptions to customers in all 50 states and to members of the armed forces around the world. Despite some setbacks, 2020 was looking to be Stately’s year.

Before the onset of the pandemic, Stately’s seed money didn’t come through, and the business was forced out of its first office—complications that alone would have frustrated any business owner. But those disappointments were only the beginning. When COVID-19 took root, California enacted an early and strongly-enforced shutdown.

“We were not able to operate,” said Zalavadia. “We were forced to stay at home and not operate, but we still had vendors, we had to pay rent, bills, and of course payroll.”

The close-knit team was disbanded, putting even more pressure on Zalavadia.

“The closures had a ripple effect on nearly everything,” he said. “It damaged our business, our customers’ experience, our employees’ livelihoods, and the overall outlook of our community.”

When Funding Wears Thin

“Knowing that I have a team with smiles on their faces pushes me to kick it into gear,” added Zalavadia. “I needed to make sure I was doing everything I could to help them provide for their families.”

Like millions of other small business owners, when news of the Paycheck Protection Program hit, Zalavadia went to his bank to apply. Yet, despite having a great relationship with Stately, the bank proved unable to rise to the occasion. Zaladavia sought other lenders and struggled to find any that would take his application. After a friend referred him to Lendio, he was able to apply, get approved, and secure a PPP loan.

The loan proved to be a true lifeline. Not only was Stately able to keep its staff employed, but it was also able to bring on new employees as demand for clothing being delivered safely to doorsteps has increased during the pandemic.

A Stately Business

Once he knew the business would be okay, Zalavadia knew he wanted to give back to the local community. Stately partnered with Clothes the Deal, a non-profit that gives out business attire to men who are looking to get back into the workforce.

“I know that it’s been a challenging time for a lot of people,” said Zalavadia. “A lot of people have lost their jobs, or have been struggling to get food on their table. But everyone deserves an opportunity and deserves a fair shot; so we hope these clothes will give these guys who need it another fighting chance to grab that next opportunity.”

Stately’s charitable efforts, scrappiness, and Zalavadia’s dedication to his team are just a few of the reasons Stately was selected as a $25,000 Lendio Small Business Grant winner. Along with the PPP funds he received, Zalavadia has chosen to allocate the grant money to paying employees and hiring new employees. The grant also allows his team to further its contributions to the community through clothing donations.

Bobbee O, Bob Roberts, was born in North Carolina just before Christmas in 1947. He grew up on a farm where his mother, Missy Roberts, religiously prepared a midday meal for the family. On occasion, Bob’s father, Jay, would allow him to join in the kitchen to prepare the meal. 

As he grew up, Bob worked a wide range of jobs, including one at a chemical company and one as an iron welder. 

Later in life, Bob enlisted in the Army where he fought for just four days shy of a year in Vietnam. When he returned from service, Bob began his food journey, working in restaurants all across the country, ranging from fast-food chains to BBQ joints to Red Lobster.

After a stint at a Raleigh BBQ restaurant, Bob began tinkering with his own pulled pork and sauce. It took nearly five years, but eventually, he found the perfect balance for his barbecue sauce. It wasn’t until he retired, 22 years later, that he sacrificed his savings to open Bobbee O’s BBQ in Charlotte, named by his loving wife Linda.

Passing the Torch

These days, the restaurant is run by Bob’s great-niece, Chloria Chandler. Chloria took over the restaurant at 24 years old. An ambitious young entrepreneur, she worked over 80 hours a week, turning down opportunities to spend time with friends and often sacrificing her own pay in order to pay employees first. 

The sacrifice has paid off though, and Bobbee O’s has won multiple awards including Best BBQ in Charlotte, Best Ribs in Charlotte, Best Pulled Pork in Charlotte, and North Carolina’s only entry in Parade’s Top 10 New School BBQ Restaurants in the Nation (2013).

Chloria says she’s confident in the stability of the Bobbee O’s brand; but that doesn’t mean she’s complacent. She knew she couldn’t scale the business while working inside the business day in and day out. In order to expand, she’d need the right personnel and that meant taking on some additional funding. Her search for a reliable business capital partner drove her to Lendio. 

Remaining Calm During a Pandemic

Before COVID-19 hit, Chloria sought business financing through Lendio. Little did she, or anyone for that matter, know that a pandemic was looming, and having that additional capital on hand would be the difference between thriving and closing her doors for good. 

“Lendio literally saved my business,” Chloria said. “We cannot thank [our Lendio representative] Chase enough for the work he did for us at the beginning of the year. Corona would have taken us off the market for sure if it was not for the moves we made with Lendio right before the onset of the virus.”

Between uncertainty in supply chains, to dine-in options closing, to staffing changes, family-owned restaurants have been hit particularly hard. But now that restaurants are beginning the process of reopening, owners like Chloria have hope for the future.

While the last few months have been a struggle, all the hard work is paying off, says Chloria. “After every long day, a smile or thank you from one of my customers always reminds me that I am helping bring my uncle’s dream of having the best BBQ restaurant around come true.”

Entrepreneurship Dreams

One night, after a long day of work in the financial services industry, Trent Schneiter and his wife were discussing what life might look like if they left their jobs in finance. The thoughts were nothing more than hypotheticals at that point, but Trent surprised Jennie when he admitted that if he could, he’d love to open a restaurant. 

Little did he or Jennie know that the late-night conversation would lead their life down a new path to entrepreneurship. They did their due diligence and noticed their hometown of Austin was lacking healthy food options, which has been a growing trend for years. So after looking into different restaurant concepts, they landed on poke—diced raw fish, served bowl style—and in March 2018, the two together opened Poke Austin.

Bootstrapping the Business

In order to get their business started, Trent and Jennie sold their home and cleared their savings, something 77% of business owners do. The sacrifice, they say, has been worth it. 

“Being a first-time business owner and restaurateur, there is plenty we had to learn on the job,” says Trent. “Some great decisions, some just bad ones. But we love having our own business and really enjoy speaking with the customers.”

The transition and building a business from scratch has come with challenges, however. Staffing is an ongoing hurdle for the restaurant. With so much turnover in some of the entry-level positions, it has been hard for Trent and Jennie to find adequate replacements. At the same time, they found there is significant seasonality in the restaurant business. Luckily, Trent has the experience to make it work.

“Having many years of experience with finance in many different industries provided a great level of confidence to deal with the issues that come, whatever they may be,” continues Trent. “You must always know what is happening in your business. That doesn’t mean you have to be there every day, or every hour, but you need to be good at asking questions and reviewing the financials to find possible problems.”

Bookkeeping Sets Up Success

“Things that are just a little off can become a big problem if not addressed, so keep on top of it,” cautions Trent.

Businesses need cash to grow but cash flow remains a top issue for most small business owners. Not knowing what is really happening in your business, as Trent cautions fellow business owners against, is one of the biggest hurdles in acquiring funds to scale or expand. Financial documentation and a good bookkeeping service can be what comes between a business owner and their next loan.

Trent’s diligent financial records made the already-simple process of applying for funding on Lendio’s marketplace even smoother. And after an extensive review of the offers he received, Trent found the funding process to be “quick and easy.” The most difficult decision he said was choosing the timing for receiving the expansion funds.

Now, with funds in hand and construction underway on their second location, Trent and Jennie are focused on growing their operation and fulfilling their newfound dream.

At 18, Lyndsey moved away from home and spent the next 14 years working multiple jobs in various mental health organizations while putting herself through school and building relationships with community professionals. Oftentimes, as many business owners do, she sacrificed time, experiences, and even income to move her business forward. Building the company off her own hard work over the course of many years, Lyndsey spent the most recent years working 50–65 hours a week building the capital needed to expand beyond an hourly rented office to two 1500 square foot suites.

Finding Meaningful Work

Integrating Insights, based in Boulder, Colorado, is a mental health practice that helps people resolve issues related to trauma and high-stress events. Clientele and specialties include military members, veterans, and their families; couples; groups; and individuals. Armed with the lessons she learned dealing with her own health issues and the pain she witnessed growing up, Lyndsey has found a balance of meaningful work, rest, and play. Now she specializes in helping others do the same.

“My clients struggle with feeling broken, challenged in relationships, and have often turned to behaviors that seem to help momentarily, but ultimately keep them from healing,” she shares. “We all have an innate capacity towards health and wholeness, but sometimes things have occurred in our lives that stand in the way.”

Keeping a Comfortable Cash Flow

With the growth of her business came additional expenses. The expansion brought expenditures much closer to the business’s existing income levels. Lyndsey knew this would be temporary, but she needed a financial buffer while continuing to expand. Like many business owners, she used an ACH loan as a short-term way to keep a more comfortable cash flow while her practice continues to grow. With that safety net in place, she is now able to focus on her next biggest concern: the right marketing to reach clients who need her help and support.

Lyndsey and her staff at Integrating Insights have helped thousands of people. Despite the struggles, long hours, and financial sacrifices, they say the journey has been worth it.

“It has been most important for me to continue to focus on why I am running my business, and then come up with creative solutions to help it thrive,” continues Lyndsey. “Focusing on the greater good that the business provides has helped me be incredibly successful in work that I find deeply rewarding.”

Cindy Imperatore grew up loving animals, horses in particular. When the opportunity presented itself, she, like many small business owners, took the leap to turn what she loves into a living. Bossy Bridle was born in 2016. What started out as a side gig, selling tack from one popular equestrian brand to local barns, has since become a thriving business. Imperatore now supplies specialized equestrian equipment to customers across the country.

Though she started small and local, going to shows and local barns, Imperatore knew she wanted to grow and scale her venture. She wasn’t alone in that, however. A number of websites and e-commerce platforms popped up around the same time, and she knew she would need to differentiate herself.

That’s where Bossy Bridle’s journey with Lendio began—using its first loan to develop a website.

And They’re Off…

“Once we had the website, then we really started to see some major increases in revenue,” Imperatore says. “What I wanted to do from there was branch into other brands, which we did slowly, but I have found that with most brands, there was a minimum buy of at least $2500 or as high as $8000, depending on the brand or the product. For a small business, that’s a lot of cash to lay out when you’re talking about bringing in two or three brands at once.”

Bossy Bridle brings in smaller, boutique labels. This helps the company stand out in a crowded marketplace, but it can also pose problems. Since many of those labels come from Europe, getting a product stocked in the first place, let alone keeping a full inventory in stock, can be difficult. From shipping time to order minimums, keeping inventory can be slow and expensive.

“The biggest challenge is to make sure we keep inventory or get it in as quickly as possible so we can fulfill our customers’ orders,” continues Imperatore. “That’s always our biggest issue—managing our inventory.”

When Cashflow Isn’t Flowing

Working capital is consistently in the top uses of funds from Lendio borrowers for precisely that reason. In order to scale, businesses need funds to bring in new products, expand their stores, or launch marketing campaigns. A recent Lendio survey shows cash flow is the number one concern for small business owners in 2019.

“But once I started working with Lendio, the ability to bring in other brands really changed for me,” Imperatore says. “They worked so quickly, and so efficiently that we’ve never been left in a position where we’re hungry for capital, so to speak. We’ve always been able to secure the amount we need and move along in our day-to-day operations and grow the company.”

Bossy Bridle has come back to Lendio twice for additional funds to bring in new products, and scale the business further. “Every rep has always had my back in terms of looking for the best rates for me, and also an eye towards building my credit as a business.”

As a new mother, Sasha Rowe was faced with a dilemma too many women face—a choice between going back to work or staying home with her newborn son. Disheartened by the dilemma, she ultimately decided not to choose one or the other. Instead, she changed that or to an and. But she didn’t stop there. Knowing other women and men facing similar choices, Rowe decided to create an opportunity to change the norm, not just for herself, but for others in the same situation. From that, Rivvly, Inc. was born.

Rivvly prides itself as a multifaceted organization offering specialized virtual assistants, high-volume remote staffing, personal branding for executives, and more. The company finds the best talent and offers them non-traditional career opportunities with companies looking to expand beyond the confines of their physical location. In simpler terms? Rivvly matches other companies with the most qualified, college-educated, vetted, and trained virtual assistants in the country.

Sounds cool, right? Unfortunately, Rivvly’s unique business model doesn’t fit within the confines of traditional lenders’ approval criteria and Rowe couldn’t get funding.

The Confines of Industry Categories

“Everyone loves the idea of what we do,” says Rowe. “But since we are outside ‘the norm’ and don’t fit into the more traditional, definable industry categories, it’s been difficult to overcome the objections and ‘what ifs.’”

Unfortunately, Rivvly isn’t unique in that regard. As industries, technologies, and the needs of consumers continue to evolve—often for the better—a common challenge some small businesses face is getting traditional lenders on board to fund their unique, out-of-the-box solutions.

Whether a business, like Rivvly, provides virtual assistants to other companies around the country or operates a mobile goat yoga studio, if a lender doesn’t understand the business model, the business owner’s chances of finding funding decline sharply.

Finding Success in Alternative Solutions

Despite not needing initial capital, starting off with a self-sustaining business model, and being profitable in year one, when the time came for Rivvly to look for working capital, traditional lenders weren’t comfortable funding the business. So, Rowe turned to Lendio.

“When I found Lendio I was hopeful, but not expecting to hear anything different from what I had in the past,” continued Rowe. “But I filled out the form online and was contacted the same day. From that initial conversation, my expectations were already far exceeded. They worked hard to understand the foundation and goals of Rivvly and then went to bat for us to secure the capital we needed to grow.”

Listening to a company’s needs is vital to finding not only the right lender but also the correct type of loan to best serve the business. Lendio and its loan experts are dedicated to making this part of the funding process work for both the lender and the borrower. Lendio’s experts seek to understand each business’ foundation and goals; they then work with lenders to secure the right type of financing for the business.

A passion for finding balance, and helping others achieve it, drove Sasha and her entire team to establish the successful business they have today. Rivvly leadership sacrificed well-paying salaries, benefits, and stability, not to mention time, energy, and sanity to build the business. But when asked if it was all worth it, Rowe only has one answer: absolutely.