Why Texas-Based Bookkeeper Has Renewed Financing 5 Times
May 4, 2021
We chatted with Mary Callihan, who owns Calico Bookkeeping outside of Houston, TX, about why she’s renewed her financing with Forward Financing five times.
Tell me about your business. Why did you start your business?
I’m an entrepreneur through and through. I also own a tanning business and beauty salon, but our bookkeeping business has given us steady business over the years. I had experience in bookkeeping in my previous role at a roofing company, and I wanted to do it on my own. Now I have two people work for me and the business continues to grow – I usually get a new client every other day.
Describe your business concerns before working with Forward Financing. Why did you need capital?
I needed the funds to replace equipment and buy new software. Since organization and speed are our top priorities, we constantly need to reinvest in our software to stay ahead of the curve. More recently, COVID required us to close our tanning and hair salons. I needed capital to keep the businesses afloat while we weren’t bringing in revenue.
How did working with Forward Financing impact your business?
The capital from Forward Financing gave me breathing room. Things are constantly changing in the tax industry and we wear our computers and printers out every couple of years. The capital helped us to keep moving forward.
How did COVID-19 impact your business?
While my brick-and-mortar businesses needed to close at the beginning of COVID, my bookkeeping business only got busier. Our customers reached out to us to help with PPP and SBA applications and unemployment logistics. Our bookkeeping business thrived over the past few months, but it also meant that we were using our equipment much more than usual.
What was important to you in determining who you would work with? Why did you pick Forward Financing?
I had a few different offers when I first started working with Forward Financing in 2019, but I chose Forward because they gave me the best deal that fit what I needed, and they have been the easiest to work with.
What was it like working with Forward Financing?
I love how responsive my Account Executive is. I’ve renewed my financing five times, and every time I reach out to ask for a renewal, he helps me through the easy process right away.
Most challenging parts of being a small business owner?
The most challenging part of being a small business owner is being able to compete. Borrowing from a bank is an arduous process, and I don’t have that kind of time when I need the funds this week. Banks have such high requirements. You almost need to prove you don’t need money to be able to get money.
Best parts of being a small business owner?
The best part about being a small business owner is that I am my business. I can make my own schedule and make all of my own decisions. I work harder for myself than I ever did for someone else, because you can only rely on yourself to make it.