Rescue Plan

An emergency-assistance loan got this entrepreneur through her company's darkest hours.
Magazine Contributor
1 min read

This story appears in the October 2005 issue of . Subscribe »

Colleen Molter's IT staffing business, QED National, borrows money to smooth out cash flow during rapid growth and also during times of tragedy--like when the World Trade Center attacks put many of her best customers out of business.

QED needed serious help to continue operations and rebuild after 9/11. With a mix of apprehension and relief, Molter signed up for an emergency loan of $300,000 from the Federal Emergency Management Agency. FEMA offered an interest rate of just 4 percent for 15 years--and the money helped Molter keep all the staff of her New York City company onboard.

Since 2001, QED has grown at an average annual rate of about 33 percent and expects to reach $4 million in revenue this year. Its growth capital comes from a new asset-based loan against receivables. "Cash flow continues to be a struggle," Molter says. "Raising money is just always a part of your life."

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

It Started As a Joke and Turned Into a Startup That Raised $1 Million in Funding