Voltio | Application Preview
Voltio is seeking government grant funding to cover operating expenses in light of recent challenges affecting their cash flow. While the business is currently operating at normal capacity, changes in federal interest rates have led to banks halting 30% of owed commission payments. Additionally, they faced a setback when a contractor went bankrupt, resulting in a loss of a $50,000 commission. Despite having $300,000 in outstanding commissions from other contractors, timely payments are uncertain.
The company is also in the process of obtaining a General license in California and Nevada, which will enhance their operational control and allow for product expansion. Voltio has a strong track record, consistently generating $4 million in sales and $2 million in revenue. Although competition exists, the company believes their diligence sets them apart. They highlight their strengths, including project management, proprietary software, a solid sales structure, established partnerships, and excellent customer support, which they argue give them a competitive edge in the market. They request assistance to navigate their current financial challenges.
-
General Information
Business Registration Number: Voltio
Location: Las Vegas, NV, United States
Length of Operation: 1-5
Number of Employees: 26-50 Employees
Annual Gross Income: $1M to $10M
Annual Gross Expense: $1M to $10M
Open to Loans: YES
-
Funding Usage
Operating expense. We are operating at normal capacity and our cashflow should be running smooth but with recent fed rate changes the banks that pay our commissions stopped advancing 30% of the commission owed. We can adapt to that and wait for the installs to take place then organize our finances to be able to make it to the next pay period. But we had a second issue, one of the contractors that was supposed to pay us went bankrupt and refused to deliver a 50,000 commission. We have at least $300,000 in owed commissions to us from other contractors but we just need to wait to get paid. Please assist if possible, we are not sure if this is the right place to request assistance.
-
Business Plan
I am waiting for my Generalb license in california and nevada. That will allow us to have a lot more control and expand to other products. We have a proven record of consistent $4,000,000 in sales and $2,000,000 in revenue.
-
Self Identified Competition
We have a lot of competitions but no one works as hard as we do. Competition is not a real concern. Other companies like ours don't have project managers, self developed software, sales structure, history, partner relationships, customer support we do. We are often more organized than our contractors and lenders.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
