Cash Flow Solutions

Angie Lederman

Woman with glasses smiling in front of a green background

“I’ve been nothing but impressed. It felt like American Express had faith in me.”

 Angie Lederman

Real American Express® Business Line of Credit customer who was aware that her testimonial may be featured by American Express.

A Sound Investment:

How the American Express® Business Line of Credit struck the right chord with a Michigan audiologist

For small business owners, navigating the unpredictable terrain of entrepreneurship often requires a keen ear to the ground. Angie Lederman, the visionary behind Hear Now Audiology & Tinnitus Center in Clinton Township, Michigan, has managed to stay attuned to these challenges and opportunities. With the backing of an American Express® Business Line of Credit, she’s found a convenient way to keep her cash flow at a level volume.

“Amex helped make it easy,” reports the veteran audiologist. “I’ve always been pretty smart financially to make sure we stay ahead of the game. But this Business Line of Credit has been a really nice tool for me.”

Lederman’s audiological journey, spanning nearly three decades, has had its share of ebbs and flows. Described by one of her patients as “a rockstar in her field,” she launched Hear Now in 2018, starting modestly as a solo practitioner in a shared doctor’s office. By January 2020, Lederman and her husband had invested in their own facility, offering hearing tests, hearing aids, and custom earpieces – as well as treatment plans for the bothersome ringing known as tinnitus. Although they faced the brunt of the pandemic soon after, Lederman’s wise financial decisions and savings softened the impact.

“We grew exponentially during Covid,” Lederman recalls. “We were shut down for a short time, but after that I was so busy. We expanded into the suite next door, doubled our space, and built out our staff.”

The business’s rapid expansion was impressive. From a team of two, Hear Now grew to a strong squad of six, including Lederman’s sister and daughter. With accolades like three consecutive “Best of the Best” awards from a local newspaper under their belt, there was a sense of achievement. With fast growth came financial challenges that needed nimble solutions.

“There were extra expenses,” Lederman admits. “A whole new suite meant double the rent, more employees to pay, and our sales had leveled off. I needed a bit more cushion to get me through with payroll, equipment, and additional bills.”

In search of assistance, Lederman initially considered healthcare loans from other banks. However, she encountered a lack of options wherever she went, and the terms were far from favorable. Her accountant led her to American Express.

“He was researching small business loans for me, and he found that American Express had a great option,” she recalls. “I had been a Card Member for years and years. The minute he mentioned Amex, I was like ‘Speak no more! I’m calling them.’”

“I was really in a bind! The guy I worked with was phenomenal. I had the approval within a half hour, no exaggeration, and it was a super easy process.”

Designed with entrepreneurs in mind, the American Express® Business Line of Credit offers flexible funding solutions. Upon approval, businesses have the flexibility to select from available term lengths of 6, 12, or 18 months. For Lederman, the application process was simple and straightforward. And with a commitment to providing the total cost and fee schedule upfront, the Business Line of Credit helps business owners across the board invest their time and energy in growing their enterprises.

For Lederman, this was music to her ears. Having been an American Express Card Member for years, Lederman’s decision was clear, and her previous experience instilled a sense of trust. “Honestly, when I heard American Express offered a business line of credit, I knew my search was over.”

Work with her, they did. American Express offered access to capital that not only provided the necessary buffer – catering to immediate operational costs, like staff salaries and bills – but also came with the friendly and competent customer service she valued.

“Every time I call in, whether it’s about rewards earned with my Card, website issues, or I’m locked out of my account, I just never get an unpleasant person or experience,” Lederman reports. One can’t help but draw parallels between Lederman’s commitment to her patients and American Express’s dedication to its clientele. Hear Now’s $600,000 earnings last year and Lederman’s discerning ear for a good partnership both underline the company’s resonating success.

“I know part of the reason we keep winning awards is that we’re really good at what we do,” she muses. “So of course, we’d like to work with others who are also good at what they do – like American Express.”

She falls silent for a moment, though her smile is audible. “Yeah, that’s the kind of company I want to associate myself with.”

Business Facts

Year Established: 2018

Industry Type: Medicine

Location: Michigan

Number of Employees: 6

American Express® Business Line of Credit Customer Since: 2023

American Express® Member Since: 2015

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