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Lake Success, N.Y.—Back in March, Mosaic Global Transportation’s CEO Maurice Brewster was one of several small businesses featured in a story appearing in The Wall Street Journal about the difficulties encountered by small-business owners—especially those who are minorities—when trying to secure a bank loan. “I had contacted several banks, and they told me they didn’t like the fact that my assets were mobile, and that my national operations use a network of independent affiliates rather than employees,” says Brewster.
Michael Kaplan, vice president and a principal of Advantage Funding, based in Lake Success, N.Y., read the article and took immediate action. “After learning more about his business and discussing various options, we were certain we could offer him a loan.”
Like most businesses, Redwood City, Calif.-based Mosaic took a hit over the last few years, but by the beginning of 2013 the company was back on track, Brewster says, and 2014 points toward a strong increase of 25 percent by the end of this year. Since then Advantage Funding has provided three more loans and a letter of reference for Mosaic’s use when bidding on municipal transportation projects.
“Maurice and Mosaic Global have developed a close relationship with us, because we figured out how to meet his needs,” says Kaplan. “When we talk, it’s not just about a particular financing need, but also about business strategy. We share our knowledge where we feel we can add value. We’re looking for ways to do business, unlike other lenders that present too many hurdles.”
Brewster, meanwhile, is grateful and excited about Mosaic Global’s prospects. “I feel blessed that [Kaplan] read that newspaper article and reached out to me,” he says.
Visit advantagefund.com for more information. For more about Mosaic Global, visit mosaicglobaltransportation.com.
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The Illinois Limousine Association (ILA) held its board of directors meeting via teleconference July 15. The meeting began with a swearing-in ceremony for its new officers, who include: Tracy Hodge-Raimer of Your Private Limousine serving as president, a position she has previously held; Greg Eggan of OML Worldwide Transportation being appointed as vice president; and Paula DeBiasi of Chicago Coachworks accepting the position of secretary-treasurer. Chauffeur Driven Publisher Chris Weiss was also elected to the ILA board of directors.
Once the board business was concluded, the conversation inevitably turned to the prominent issue on the table: Uber and other rideshares. ILA members recently sent a letter to Illinois Governor Pat Quinn asking him to veto a bill that aims to regulate ridesharing services like Uber. Twenty-two of the association’s 63 members signed the letter, expressing their nearly unanimous displeasure with a bill they believe is not strong enough.
Before the teleconference concluded, the board’s special vote ended with its consent to participate in The Chauffeur Driven Show this November, where the association will have a booth on the show floor (in Association Pavilion). There will be an open board teleconference for all ILA members to join on August 20 at 1 p.m.
Visit illinoislimousineassociation.com for more information.
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On July 15, the Maryland Limousine Association (MLA) hosted an open meeting in conjunction with American Motor Products (AMProd) road show, which is currently embarking on a nationwide tour, stopping at industry events along the way. The AMPrd road show promotes an array of services and sponsors while educating the industry on the many ways from which its members can benefit from the many discounts and special services that AMProd has to offer.
After a buffet lunch, the afternoon included presentations by Richard Thompson, fleet manager of TBC Retail, and Deirdre Sublett of Classic Bus Sales, as well as video presentations for companies such as Create-a-Card, Chosen Payments, and LimoLive24. AMProd’s EVP of Business Development David Ward conducted most of the presentation, discussing all that his company has to offer before providing an overview of the sponsors’ products and services.
Paul E. Hall Sr. of Hall's Limousine Service andCD's Lauren D'Ambra
Marvin M. Prince of LSA Worldwide Chauffeured Transportation and CD's Lauren D'Ambra
Chauffeur Driven’s Show Manager Lauren D’Ambra and Editor Madeleine Maccar joined the industry members who attended the meeting, with D’Ambra raffling off passes to both the upcoming Canadian Limo Summit and the Chauffeur Driven Show in Atlantic City. Paul Hall Sr. of Hall‚s Limousine Service in Fort Washington, Maryland, won the raffle for the Toronto show, while Marvin Prince of LSA Worldwide Chauffeured Transportation in Silver Spring, Maryland, won the Atlantic City raffle.
The next MLA meeting will be September 16.
Visit mdlimoassoc.org for more information.
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