Case Study: Prairie Creek Beverages

We think it’s important to give business owners a voice that we’ve successfully helped. Here is the story of Michael Howard, CEO of Prairie Creek Beverages.

Prairie Creek Beverages was founded in 2013 as a consumer brand development company for the wine and spirits industry. Their direct distributor relationships and industry experience has enabled their business to succeed almost instantly, and they experienced 600% sales growth in 2014 and thus decided to expand their business to 35 states.

The Challenge

Although they were successful almost instantly, all businesses have road blocks to pass. Michael Howard found himself struggling to meet the financial demands of business during his second year of heading the wine and spirits company as it was in rapid expansion mode and needed fast funding to keep pace with the company’s success. Unfortunately, a traditional bank loan was out of the question due to time constraints and credit history. Howard needed funding that week and was unable to provide a lengthy credit history. He knew his company was successful and would continue to thrive, but he also knew that traditional lenders and banks wouldn’t give him the opportunity to get a loan unless his company could show a strong profit history.

The Solution

Under the recommendation of his peers, Michael researched alternative business lending options online. Although he was hesitant, he was particularly impressed with SnapCap’s online reputation and recognition, and applied for a loan.

Michael confessed that he entered the application process with doubts that the loan would be generic and inflexible, but that opinion quickly changed. “I completed a straightforward and relatively simple application process, and within a couple of days SnapCap contacted me to discuss my business,” said Michael.

Additionally, he was pleased with SnapCap’s customer service. He described the loan process as a nice balance between due diligence and timely execution. SnapCap’s representatives were personable, flexible and willing to work with his company’s specific needs. “While going through a loan qualification, one can feel really small and inadequate- it was not like that at all with SnapCap,” said Michael.

The Result

Michael secured a $200,000 loan for 12 months from SnapCap that helped him fulfill the business’ immediate needs. Michael has managed his loan responsibly with on-time payments and says “business is only growing.” Michael iterated that he couldn’t have achieved this success without SnapCap’s help and will definitely come back again if he needs a future loan.

The beverage company shows no signs of slowing down, boasting 35% greater sales this past January than the same time period in 2014.

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