Marcus Williams was denied three times by traditional banks before BankShare matched him with an alternative lender who funded his HVAC company expansion in under 2 weeks.
Marcus Williams had been running his HVAC company, Williams Comfort Systems, for 8 years when he decided to expand into commercial contracts. He had the team, the equipment, and a signed letter of intent from a commercial property management group. All he needed was $500,000 to hire the additional technicians and purchase the specialized commercial equipment.
Three Denials in Three Months
His first bank declined within a week. No explanation. His second bank declined after a 6-week underwriting process, citing insufficient commercial real estate collateral. His third application — to an online lender — was approved for $180,000 at a 28% effective rate. He declined, knowing the cost would cripple his margins on the new contracts.
What Was Different About BankShare
When Marcus submitted his BankShare application, the platform identified that his business had strong revenue ($1.1M annually), consistent bank statements, and an excellent personal credit score (748) — but that previous applications were being disqualified by lenders who did not specialize in service businesses. BankShare matched him with lenders who regularly fund HVAC, plumbing, and electrical contractors.
The Outcome
- Funded $500,000 in 8 days at 9.75% — a 65% lower rate than his last offer
- Hired 6 new commercial technicians within 30 days
- First commercial contract revenue hit $280,000 in year one
- Now managing a $2.4M annual revenue business
Marcus's advice: "The right lender for your business type makes all the difference. A bank that does not understand service businesses will always find a reason to say no."
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