Imagine getting a once-in-a-lifetime opportunity for a major celebrity event, but not being able to do it due to inventory and staffing needs. This is where a capital loan can help, as Kristen Bender Daaboul, Owner of Kadeema Rentals, learned firsthand when this happened to her. She decided to partake in our Stripe Capital Loan program, which gave her the powerful ability to invest in her company’s own growth.
Who is Kadeema?
Kadeema Rentals is a boutique design studio and rental company based in Boston, Massachusetts that caters to clients who are looking for unique items for any type of celebration or living space. Their beautiful events and weddings have been featured in a variety of publications, including Martha Stewart and The Boston Globe, and they’ve been Goodshuffle Pro users since June 2020.
With a mission to “bring styles from the grandest eras and decades to homes and events across New England,” the team is always on the lookout for new inventory and the latest trends across the industry. Purchasing items that create an unbelievable client experience is what they’re all about.
A tough 2020 situation
Kadeema Rentals had seen 300% growth in the previous 3 years before the pandemic, but when COVID-19 hit, this slowed down. As time went on, Kristen wanted to keep expanding, but didn’t have the cash she needed to buy new inventory since events had been paused for so long. As events slowly began picking up again, she started saying “yes” to everything to make up for the previous year. There was an influx of people wanting to get married, and these new events meant that she needed more part-time staff and new inventory. She also wanted more cushion and less stress when it came to her business in general.
Then, Kristen was presented with a huge opportunity: to take on an event for a big-name celebrity. She was originally terrified she would have to say “no” because she didn’t have the funds for the labor and new inventory she’d need to successfully pull it off. It was a once-in-a-lifetime chance and would mean lots of great business and networking opportunities. Then came her knight in shining armor: the Stripe Capital Loan program.
Capital loans save the day
Luckily, Kristen took advantage of Goodshuffle Pro’s Stripe Capital Loan program and was able to say yes to the event. She quickly hired all staff and purchased all inventory that was needed. When asked what’s important to her in a financing product, Kristen says, “It has to be quicker than the bank process. The bank takes forever and in this instance, I didn’t have time to wait.”
She explains, “I was looking for a little more cash overflow for purchasing new products and covering my team. When this last-minute request came in, I was thankfully able to buy last-minute inventory to complete the request. I would have maybe had to say ‘no’ to this huge opportunity if it weren't for this loan.” Without Goodshuffle Pro’s Stripe Capital Loan program, she would have missed this chance to work a big-ticket event.
Kristen was also thankful for the way payments work— she says, “I feel more comfortable when payment is taken out of our jobs. If it were weekly, I could end up in a position of not having money available, since the business fluctuates so much. I like knowing that I only have to pay when I’m getting paid.”
Going into a successful 2022
Kristen had been waiting for a SBA loan when she got the news that she was qualified for the Stripe Capital Loan program. She says the timing was “weirdly perfect.” She eagerly accepted the loan offer because of her trust in Goodshuffle Pro. She explains, “I would have taken the loan regardless of whether or not Stripe was involved. I have built up trust with Goodshuffle, so I felt confident I was in good hands.”
Capital loans get you the money you need as soon as you need it, which is crucial for saying yes to these big opportunities. And, as we all know, speed is everything in the events industry. If you’re not able to say “yes” to a client when they ask, chances are that they’ll move to a competitor of yours. Say yes more often with fast cash, then easily pay it back as you do more jobs. Kristen is excited to lead Kadeema Rentals into 2022 and beyond with this powerful tool in their pocket.
Curious to learn more about our Stripe Capital Loan program? Read more here and learn how you can qualify now.
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Loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank. All loans subject to credit approval.