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The
following is an excerpt from Merrill Lynch Business
Life (2/2005). Click
here to view the full article. |
But success also meant investing in more equipment
and more space as the company's manufacturing operations
and clientele grew. Avi Wazana wanted a financial service
that not only recognized the company's vision but one
whose people listened. That's why he was happy to work
with Merrill Lynch Financial Advisor Steven Port of
the Benell Group of Century City. "They have a very
personalized approach to service," Avi remarked. "The
whole mentality of Merrill Lynch Business Financial
Services is in line with our entrepreneurial aspirations.
They're not nervous when we talk about our plans. They
want to help us grow, and they have the resources to
do it."
Streamlined financial service
To expand owner-occupied space, MSE was approved for
financing with a WCMA Reducing RevolverSM loan. It's
a term loan that operates like a revolving credit line,
unlike any offering their bank had. Avi especially liked
the Working Capital Management Account® (WCMA® account)
which is integrated with the loan. "It's a sophisticated
way of handling finances," he said. "With a WCMA account,
it's one operation, and the money sweeps automatically,"
he added. "It's the most efficient cash management platform
I've seen." MSE is also benefiting from the use of the
Merrill Lynch Visa® Business Signature card, which draws
on the WCMA account. It has delayed debit and a comprehensive
rewards program.
The Wazanas are considering future growth through acquisitions.
What has fueled MSE's enviable run of sustained growth?
"Our dedication to quality," Avi Wazana said, "which
keeps customers loyal. We have a very high rate of customer
retention and customer attraction. We keep quality high
by hiring and holding on to the most skilled employees.
And we establish brand recognition." That recognition
has earned MSE four Reader's Choice awards from Recharger
Magazine and a five-star rating in the VarBusiness Partner
Program. "The key is customer loyalty and our people,"
said Avi Wazana.
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