Founder and CEO of Gold Beacon Capital Corp; Bill Whitmore was recently featured in one of Maine’s top business new sources; Mainebiz for the launch of his commercial lending services company. Whitmore was interviewed about his past and current experience in the business world as well as his plans for the new company. Below is the full press release and access to the article on the Mainebiz website.
Gold Beacon Capital Launched to
Support Maine and Northern New England Business Owners
Commercial Lender Will Focus on
Providing Financing to Small Businesses
PORTLAND – A new financial resource has been launched by Portland-area businessman Bill Whitmore, focused on providing commercial financing to the region’s entrepreneurs and small business owners.
Whitmore says that his latest venture is the outgrowth of his experience as the owner and operator of a successful fitness center franchise.
“The economy of northern New England in general and Maine specifically is driven by small business. As a once-fledgling business owner, I faced the same hurdles that others have in finding the financing to support the opening and growth of my own business. I have literally, ‘been there, done that’ and have experienced the frustration many face in acquiring the necessary capital to expand or improve.” Whitmore continued, by saying, “we have to get capital to smaller enterprises in order to create the jobs that underpin the life of our communities.”
Whitmore added that his experience in launching and expanding his fitness center business is a value-added for their clients. “Rather than being just a banker, we can also provide business insight and expertise that is based on sitting in the same chair as our clients.”
“Nothing was harder starting out than gaining access to working capital,” Whitmore said. “The lending market has only become more difficult for most small businesses, and I see an opportunity to help fill the gap between small business owners and traditional lending institutions.”
There is capital available for small businesses, Whitmore noted, at attractive rates and terms, and without the many obstacles and restrictions that come with traditional bank lending products. “Many business owners aren’t aware of alternative lending options which may allow them achieve their goals when a traditional bank does not meet their needs. Gold Beacon Capital can offer them a ‘one-stop’ resource for evaluating alternatives specific to their needs.”
Companies ranging from start-ups to $10 million in sales are Gold Beacon Capital’s target market. The firm will specialize in commercial finance with a working capital focus and provide a variety of alternative lending solutions including equipment leasing, sale leasebacks, accounts receivable financing, factoring, franchise lending, business acquisition financing, SBA financing, commercial real estate loans and more, Whitmore said.
“I understand how much owners put into their companies both emotionally and financially, and I want to work with owners to help solve the issues they face everyday,” Whitmore said. “If you are looking for capital or financing for your business, you should know that you have options. Banks are now not the only game in town.”