For over twenty years, New York Tent has been a staple of New York metro’s events and festival scene, producing upscale tented affairs for major sporting events, including the New York City Marathon, corporate galas, large music festivals, and even weddings for the area’s high net-worth crowd.
After doubling its business over the past four years, the principals sought to refinance their existing business loan in order to boost cash flow and fuel their foreseeable rapid growth.
“The improved financing we received has allowed us to continue to fund our extreme growth. It would have been tough to grow at this pace without a financial partner like Newtek to help us do it.”
– David Tannenbaum, Principal, New York Tent
Newtek was able to provide the exact financing they were looking for – a single solution with improved terms and lower monthly payments, freeing up hundreds of thousands in cash flow annually. The company now expects to double its business again over the next four years.