By Anthony Collin, CEO, Smart Business Funding. $500M+ funded since 2014. Published October 15, 2026.
A real story, with the source linked. Troy Anthony Fashion is not a Smart Business Funding customer, and we have no business relationship with it. The facts below come from the U.S. Small Business Administration, “Troy Anthony Fashion: From Hartford Entrepreneur to International Fashion Brand” (an SBA success story). Where we add our own arithmetic or commentary, we say so. Where the source does not give a number, we do not make one up.
Seven Years, One Storefront, Two Cities
In 2018, Troy Anthony Forster opened a fashion business in Hartford, Connecticut. In 2025, he used an SBA 7(a) loan to buy a dry-cleaning and tailoring business in Washington, D.C. Between those two dates sits a story about business financings in the plural: not one funding event, but a series, each matched to a different moment.
Most advice treats financing as a single decision. Real owners make several over the years, and each one has to fit the stage the business is in. Here is how Forster’s path looks when you line the stages up.
The Real Timeline
| When | What the SBA reports |
|---|---|
| 2018 | Opens a Hartford fashion business built around custom apparel, tailoring, bridal wear and wearable couture |
| 2020 | Begins working with the Connecticut Small Business Development Center on planning, marketing, international expansion and government contracting |
| During the pandemic | An SBA Paycheck Protection Program (PPP) loan helps retain employees and pivot production to masks and protective equipment for healthcare workers, nursing homes and community organizations |
| 2025 | Secures an SBA 7(a) loan to acquire a dry-cleaning and tailoring business in Washington, D.C. |
| Today | Operates in Hartford and Washington, D.C., serving more than 5,000 customers |
| 2026 | Named the Connecticut SBA District Office’s Microenterprise Business of the Year |
The source does not state loan amounts, rates or terms for either financing, so we are not going to invent them.
Why the Sequence Matters
Compare the two financings. The PPP loan was about survival: keeping people employed and shifting what the shop made. The 7(a) loan was about growth: an acquisition that, in the SBA’s words, allowed him “to vertically integrate key services, broaden his customer reach, and establish a presence in a major metropolitan market.” Same owner, different job for the money.
| Financing | Purpose | What kind of decision it was |
|---|---|---|
| PPP loan (2020) | Keep employees, pivot production | Defensive: protect what exists |
| SBA 7(a) loan (2025) | Acquire a second location | Offensive: buy growth |
Our own observation, not from the article: the five years between the two financings gave the business time to build a track record, and an acquisition is easier to justify when the existing business is proven. If you are thinking about taking more than one financing, ask whether the first one has finished doing its job.
The Psychology of Taking Another One
The second financing is harder than the first. Owners often feel two competing pulls:
- Fear of more debt. The first financing made the risk real. A second can feel like tempting fate.
- Fear of falling behind. Watching a competitor grow, or a chance like an acquisition appear, pulls the other way.
- Overconfidence after a win. Success with the first financing can make the second feel safe by default. It is not automatically safe. Test it fresh.
The way through is to judge each financing on its own numbers. Does this money have a job, a payoff and a plan? Forster’s 7(a) loan had a specific job, buying a business with existing customers and capabilities.
The Federal Reserve Banks’ Small Business Credit Survey found that 59% of employer firms sought financing in the prior year, and 56% of those sought it for operating expenses. Only 41% received all they asked for, 36% received some and 24% received none. The full numbers are in the 2025 Report on Employer Firms.
That 41% of denied firms cited too much debt, up from 22% in 2021, is a reminder that lenders look at what you already owe. Taking several financings is not wrong. Stacking them without a plan is where trouble starts.
Sequencing Versus Stacking
| Sequencing | Stacking | |
|---|---|---|
| Timing | One financing finishes its job before the next starts | Several financings overlap |
| Payments | You know the total burden at any time | Payments add up, sometimes quickly |
| Risk | Lower, if each one has a clear payoff | Higher, because a slow month hits every payment |
| Good use | Defend, then grow | Only with careful math and enough reserve |
We say this because it is true. Multiple merchant cash advances at once can strain cash flow, and our team will tell you if another one is not a good idea. If you already have one with us, you may qualify for a renewal after you have paid back 50 to 70% and your account is in good standing. It is not guaranteed.
How Smart Business Funding Fits
We do not issue SBA loans, and a 7(a) acquisition loan like Forster’s is a different product from ours. Our direct program funds $10,000 to $5,000,000 for businesses with at least one year in business, with a soft credit pull only and a minimum score of 500. Offers usually come within 1 to 5 hours on a complete file, and funding is usually 24 to 48 hours for the whole process. For equipment, lines of credit and other needs, we also work with partners. Learn more on our business financing page, or read about renewals.
A Business Financings Decision Checklist
- List what you owe today. Every payment, every month.
- Give the new money one job. Defend, grow or bridge.
- Check whether the last financing has done its job.
- Get the total cost in dollars for the new one.
- Add all payments together and test them against your slowest month.
- Keep a reserve of a few weeks of payments.
- Ask about a UCC filing or personal guarantee on every agreement.
- Use free help. Forster worked with a Small Business Development Center before and after his financings.
Frequently Asked Questions About Business Financings
Can I have more than one financing at a time? Often yes, but each payment adds to your burden. Run the combined numbers first.
Does using financing mean my business is struggling? No. Forster’s second financing was used to grow.
What is an acquisition loan? Financing used to buy an existing business. Forster used an SBA 7(a) loan, which we do not offer.
Can I renew a merchant cash advance with you? After you have paid back 50 to 70% and are in good standing, you may qualify. It is not guaranteed.
How fast is your process? Offers usually come within 1 to 5 hours on a complete file, and funding is usually 24 to 48 hours for the whole process.
See What Your Own Numbers Look Like
Run your own numbers in our funding calculator, read how we price on our Transparent Terms page, or compare every option on our business funding and business financing pages. Call 1-866-737-6278 (866-Re-Smart). Our call center answers 24 hours a day.
All funding is subject to underwriting, approval and applicable terms. Funding amounts, fees and timing vary by applicant and transaction. The story above is reported by the linked third party and is not a Smart Business Funding customer result. A merchant cash advance is not a loan.
The move from one storefront to a second location is a sequencing decision as much as a capital decision, especially when an owner is weighing existing obligations against buildout and inventory costs. Smart Business Funding invites established businesses to compare a potential funding amount with a realistic repayment plan; with one year in business and $5,000 in monthly revenue, you may meet our initial eligibility requirements, so share your expansion plans and review funding terms.
Your next step
Read more real business stories, or start with our business funding overview.
Apply nowReal case studiesCompare all optionsApplying uses a soft credit pull only. Offers usually arrive in 1 to 5 hours on a complete file. All funding is subject to underwriting and approval. Call 1-866-737-6278 (866-Re-Smart).
