Having started out as computer programmers, Dave Bellous and Paul Bellows have evolved their company, Yellow Pencil Inc., into a business providing web design and hosting as well as Software as a Service offerings. But getting to where they are today hasn’t always been easy.
With 26 staff members in Edmonton and Vancouver. “Yellow Pencil works with multinational and public sector customers across Canada and the U.S., helping them to achieve bold goals on their digital platform,” they explain.
As the business expanded, the owners faced the constant challenge of balancing the need for growth with the ebb and flow of projects.
When they needed funds to increase Yellow Pencil’s capacity for web hosting and cloud services and to introduce new services, they faced difficulties in finding financial assistance until they met with BDC, which recognized the business’ growth potential.
BDC provided a working capital loan to fund their expansion plans with longer amortization which made repayment easier and helped protect cash flow. Yellow Pencil also qualified for BDC’s pre-authorized equipment line of credit to enable them to purchase additional servers that will help in attracting new large clients.
Yellow Pencil continually works to develop strategic partnerships to deliver the best value to clients. It is also expanding its Software as a Service offerings, including architectural planning services, fully managed data centres, cloud hosting and more.
“BDC presented itself as a collaborator, with a range of financing options that let us focus on delivering great work instead of cash flow,” say the owners. “We truly feel that BDC has our best interests at heart.”