Loan from Super G Funding Helps Payment Processor Thrive
Ed Zinner, President of Ocean Equity Group, had a problem. He needed an influx of money to expand his payment processing business and grow his cash advance portfolio. Bank loans weren’t an option and taking on investors was a risky idea. “Hedge funds generally require outside input in the decision making,” said Zinner. “As our business is founded on the ability to work outside the box, the level of restriction a hedge fund would create just would not fit our model.” Private lenders were also out of the picture as there is a level of uncertainty involved. “The issue there is you never know when the investors may have a need to cash out their investments. So that is always a potential cash flow issue.”
Fortunately for Ocean Equity Group, there is Super G Funding. “With Super G,” said Zinner, “you have a fixed payment and a fixed term.” Super G Funding allows ISOs and IADs to borrow against their residuals and is able to offer more credit availability than any other financing source. “The entire process took less than 10 days from hello to money in our bank,” said Zinner. “Super G understands the real business world and, once they were satisfied that we knew what we were doing with the funds, approved us. It was the simplest process I have ever encountered.”
Zinner did not select Super G funding simply based on fast approval. “The sound financial advice provided by Super G’s owner from the very first loan helped me to make informed decisions as to how
to use the money to obtain the best results.” The Super G Funding team and their president, Darrin Ginsberg, put Ocean Equity Group in contact with lawyers, accountants and industry contacts that
were able to help them in their planned expansion.
“I have never experience that,” said Zinner. “A private individual taking the time and setting forth such effort to help us be successful.” “Over a period of five years,” said Bob Sliker, Vice President of Business Development at Super G, “we were able to lend Ocean Equity Group around two and a half million dollars, allowing Ed to significantly grow his business without the added difficulties other loan processes incur.”
Ocean Equity Group used the money to expand their corporate headquarters, open a second location, purchase cash advance contracts and restructure some debt.
Today Ocean Equity Group is a thriving business. “We are building another processing portfolio, this time under far better circumstances than the first one,” said Zinner. The business is making money and Zinner attributes a large portion of that success to his experience with Super G.
“I highly recommend Super G to other ATM deployers,” said Zinner. “While their financial help was invaluable, the advice and other assistance was equally important. We would definitely borrow from Super G again but, thanks to the great people over there, we don’t need another loan!”
“The entire process took less than 10 days from hello to money in our bank. Super G understands the real business world and, once they were satisfied that we knew what we were doing with the funds, approved us. It was the simplest process I have ever encountered.” — Ed Zinner, Ocean Equity Group.
About the Sponsor — Super G Funding is a provider of entrepreneur- friendly small business financing solutions with loans ranging in size from $25,000-$5,000,000. A pioneer and market leader in loans to merchant services, ATM deployers and insurance brokers, Super G Funding’s program enables companies with a recurring monthly residual or commissions to borrow against the life-time value of that cash stream. For more information, visit SuperGFunding.com information or call: