Since she first started working at age 13, this Tax Prep Company Owner dreamed of being her own boss. After years in the corporate world, in 2014 she decided to make it happen and started her tax preparation business.
Building Her Company’s Presence
She began by preparing taxes from home but knew she needed her own office space to grow her business and establish credibility with clients. It wasn’t until she received her first round of sales-based financing from Capital Funds in April 2021 that this aspiration became a reality.
Her business has tripled over the past few years, and she was eager to continue expanding. She used a portion of the funding to advertise on a public bench in downtown Tampa.
“There’s a lot of competition for tax preparation in Tampa, so I knew I needed to do something to stand out,” she said. “You have to spend money to keep up, and if you don’t have the capital for it, you’ll lose out.”
Growing Her Team
For the first seven years, her business was a “one-woman show,” completing taxes five to seven days per week. The limited capacity meant she couldn’t return taxes to clients as quickly as she wanted.
Bracing for her busiest tax season yet, she used Capital Funds’ working capital to hire two new employees. With an expanded team, her company now offers notary work, trademark registration, and other services she couldn’t handle alone.
“The funding from Capital Funds has opened so many doors for me. It allowed me to take on more customers and improve turnaround time. Many clients were impressed with how quickly I could get their taxes done, and it made me proud of the business I’ve built.”
Working With Capital Funds
The fast, easy process is what initially drew her to Capital Funds. Ninety minutes after submitting her initial application, she learned she had been approved for funding.
When revenue temporarily dropped, she took advantage of payment relief, adjusting her payments to fit her cash flow. After paying most of her balance, she was excited to learn she was eligible for additional capital. Now on her second round of funding, she looks forward to expanding her business and serving even more customers.
“Capital Funds is one of the easiest funders to work with. The capital gave me financial freedom and the ability to grow my business. I would definitely recommend them to other small businesses.”
If you want additional working capital for your business, reach out to your Account Executive if you’ve funded with Capital Funds before, or submit your application today if you’re new.