Catarah and Shoneji are baking their way to sweet success as the owners of LA’s
famed Southern Girl Desserts cupcake shop. The two shot to stardom when they won
TV’s Cupcake Wars competition, but when business took off and the "Dessert Divas"
needed financing to expand, their bank turned them down. Because they didn’t know
about Opportunity Fund, they thought their only option was a merchant cash advance—a
high-cost alternative targeting businesses too young to
qualify for a bank loan. They accepted the high rate and short term because they
needed financing to grow. Soon, Catarah and Shoneji got caught in a high-cost debt
trap "We fell into a terrible cycle trying to pay off those cash advances," said
Catarah. "We were constantly worried about cash flow. I felt like we would never
get out from under the debt."
It wasn't until Catarah learned about Opportunity Fund that she found a way out. Opportunity Fund refinanced their debt with a $40,000 EasyPay loan, cutting their monthly payments by 90% and saving them $10,000 a month! "Opportunity Fund truly cares about the success of our business. It is a relief knowing that we are finally out of the shark-infested waters of cash advances.”
CGI America 2015