Image 4 works behind the scene to set the scene for its retail clients. A pioneer in creating both “branded interiors” and “pop-up stores”, Image 4 has been at the cutting edge of perfecting the customer experience since the 1980s. When the company experienced a spike in orders, and realized the need for some additional equipment, it started seeking capital in 2012.
|Courtesy Christine Carignan, Business NH Magazine|
The equipment Image 4 needed had a high degree of “planned obsolescence”. From a banker’s view, the equipment—the loan’s collateral—would soon be worth less than the amount of the bank’s loan. Image 4’s alternative, leasing that same equipment, was prohibitively expensive.
Why the Community Loan Fund made the loan
Image 4’s exceptional management team had demonstrated success through several economic cycles, even as other marketing/branding organizations had failed. The equipment they planned to purchase clearly would increase Image 4’s profits, and the company had other collateral available in the case of a shortfall.
The Community Loan Fund loaned Image 4 the full price of the new equipment. This allowed Image 4 to keep the maximum amount of working capital in the business, critically needed as sales and new orders soared. The company has continued to win marquee clients such as Burton Snowboards, American Water, BMW and Lids, as well as numerous banks and credit unions.