An operator starts a financing company to help others afford the hottest limo sedan since the Town Car L.
The money would come from the leveraged-loan market, which is a nontraditional place for startups to seek cash.
The completion of the debt deal is a positive sign of better-than-expected demand for chauffeured services.
Federal Reserve Chairman Ben Bernanke called on banks this week to make more loans to small businesses to help create more jobs and boost the economic recovery.
FINANCE: The Fed chief urges more lending to small and medium-sized businesses that make up the vast majority of the chauffeured transportation industry.
The venture helps independent operators and chauffeurs affiliated with Carey to get easier access to credit in a tough economy.
Expert Don Coolbaugh of Advantage Funding continues a weekly series of questions and answers for chauffeured transportation operators on all matters related to financing and leasing fleet vehicles. You must clean up your own act before you borrow and spend on behalf of your business.
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