When Robert Powell left the banking industry to fulfill an entrepreneurial dream, he looked for a business that would be a good fit and would grow. When Tower Car Wash & Detail Center came on the market in 2005, Powell could see it was not only a match for his small business dreams, but with the right service, offerings, and customer experience for those who frequented his Batavia, Illinois location . . . he could clean up.
To start out, Powell went with a traditional Small Business Association (SBA) loan. The SBA works with lenders to provide loans to small businesses but doesn't lend money directly and is typically a very long process. As Tower Car Wash & Detail Center started to take off, Powell's background in banking paid off. He knew he needed to choose a lender that would understand his business, would be able to make fast decisions, and could structure financing payments that complemented his small business needs. Powell approached Ascentium Capital.
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The family-owned and operated car wash started to build its reputation as the premier soft cloth car wash. Detailing services grew beyond the typical wash, wax and shampoo to include protection, enhancement and paint restoration services. And, not just for cars and trucks but for boats, RVs and motorcycles.
As Tower Car Wash & Detail Center continued to grow, Powell looked at ways to make his company more efficient. One of the first ways he set out to improve operations was to install a Point of Sale (POS) software system that would improve efficiency as well as the overall customer experience. Implementing a POS can dramatically enhance the overall management of operations – but it can be a big undertaking for a small business. The new POS was an upgrade to cashier and greeter stations and tunnel control for all the different types of add-on services.
After finding success with previous investments, Powell continued turning to Ascentium for his financing needs. Unlike a traditional bank, Ascentium could see the value and understand the small business investment to rapidly work through the loan process to help Tower Car Wash build their business.
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