At the beginning of the pandemic, Mike, the owner of a small coffee brand "BeanStory," faced a sharp drop in sales of almost 80%. Rent, barista salaries, and coffee bean purchases—everything required monthly expenses of around 25,000 USD. His cash reserves were only enough for two months.
Mike took out an express business loan on the "BizBoost" platform:
- Loan Amount: 25,000 USD
- Repayment Term: 6 months
- Interest Rate: 2% per month
After receiving the funds, he reallocated the budget: part went to rent and employee payments, and part went to online sales of coffee sets with delivery. At the same time, he invested in social media marketing and launched a "Takeaway Coffee with a 20% Discount" promotion.
Result:
- Online orders compensated for the decline in in-store sales.
- He retained all his baristas and avoided penalties for late rent payments.
- The brand and customer base were preserved.
Six months later, thanks to a smart strategy and timely financial support, "BeanStory" returned to its pre-crisis turnover levels and even expanded its product line—it's no longer just a coffee shop, but its own small roastery.
"This loan became the medicine for my business: without it, I wouldn't have pursued online sales and wouldn't have attracted new customers. Today, I'm confident we can handle any difficulties!"
