Opening my café one morning, I discovered to my horror that our old oven was no longer functioning. It was a big concern because a proper oven is very expensive and without a replacement we would lose a substantial part of the daily takings as very few customers want to drink tea or coffee without a fresh warm pastry. We did not have time to go through the bank loan application procedure: we needed an immediate solution. So we borrowed the money from Evergreen Capital and bought a decent-size modern oven for our large kitchen. The monthly interest was 3.4% but we repaid the loan in 10 months and our business continued successfully.
Norman (37), used car dealer and car repair shop owner in Tallinn
We repair and sell cars. Last spring we got this unexpected opportunity to buy heavily discounted vans at a bankruptcy sale in a neighbouring country. We needed about 20,000 euros within four days. There was not enough money on the company’s bank account but we did have some cars recently bought for resale. We registered two of those cars in Evergreen’s name for a month and thus received the needed money in time. That enabled us to make the best deal of the year. Evergreen got their interest payment but our profit far exceeded that. The cars were registered in my name again and I would gladly repeat this transaction any time.
Meelis (50), home appliances company director
At the beginning of the year we received a big order from a real estate company to install our appliances in their rental apartments. We were keen to fulfil that order but we had only recently filled the warehouse with goods of other types. We just could not pass on that lucrative offer. So we borrowed money from Evergreen Capital for a short term. They quickly grasped our predicament and agreed to finance the deal. The initial loan was for one month and we then extended it to two months. The whole procedure was very easy, clear and quick. Our contact person at Evergreen was a very competent and experienced specialist who immediately understood what was going on and offered suitable solutions. I and my partner became the guarantors and in a couple of days the money was on our bank account.
Nikolai (56), taxi driver
I work at a taxi firm in Tallinn with my own car. I enjoy scheduling my own working hours and find driving a generally relaxing activity. When the time came to buy a taxi, I did not have enough savings and had to look for another way. My friends recommended Evergreen and the company agreed to help me. We decided on the loan period, I bought the car and have been driving it for almost a year now.
Rain (29), online store owner
By that time I had been running the online store for a couple of years, selling all sorts of goods: clothes, accessories, cheaper electronics and so on. We were making ends meet, the wages and the taxes were being paid, in some years we even managed to earn a profit, but on the whole it was just a job, not a proper business. The best time for us was always the Christmas season, when people tend to spend more than usual. To grow the business, last year I decided to fill the warehouse by December. The company borrowed the necessary funds from Evergreen. The monthly interest was about 4%, but the subsequent profit surpassed that and put a big smile on my face. If you want to grow, you must take chances.
From dad’s garage to a successful business venture
I started out as a car repairman in my father’s garages many years ago. I did quality work, gained a good reputation and decided to expand. I rented two more facilities and equipment for them: different lifting devices, tyre installation rigs, compressors and all sorts of things that cost quite a lot.