Before we got started with Capital Solutions, our oilfield services company was struggling. Not because of slow sales or poor quality, but simply because I didn’t have the time to take care of cash flow and take care of the business at the same time. Our staff is highly specialized and because quality is very important to our customers, we invest a lot of time and money into training. Even more so, because demand is extremely tight for these scarce employees, I had to make sure that there was always ample funds for payroll (and taxes) every week. The slightest rumor—even if it was unfounded—that we were not going to make payroll on time would trigger people to start asking questions and to look around for openings.
So—as you can imagine—I was 100% focused in cash flow, just to make sure the business kept running.
In the meantime demand for our services went through the roof and I found myself not being able to comply with my commitments to customers. Something had to give.
It was then that a colleague of ours recommended I talk to Carlos at Capital Solutions. Frankly, I had been denied by a few banks, so I was lukewarm to the idea and thought it would be a waste of time. The only reason I picked up the phone was that my friend had had such a good experience with Capital Solutions.
To make a long story short, we were funded 10 days later (the approval process was very smooth). The way I spend my time has changed dramatically since then. I can spend as much time as I need visiting with customers and out on the oilfield. Cash flow is literally a twice a week—for 15 minutes—kind of chore (just deciding how much money I’m going to need for you to wire to my account).
In closing I would like to tell you that Capital Solutions has made it possible for GDT Well Service, Inc. to triple (300%) its business in the last year, without any of the “growing pains”. Quite the contrary, it is a real pleasure with you and quite reassuring knowing that you are covering our backs.
I look forward to a long-term relationship!
George Del Toro
GDT Well Service, Inc.