NEWARK, N.J. — As an industry service provider, Jake Freedman has helped retailers develop websites and apps and to understand the latest in technological advancements.
As a small business owner, Freedman also understands the difficulty in securing funding.
His latest initiative, Pulse Capital Advisors, is aimed at helping independent retailers get a quick cash infusion for stability or for growth. “We’re trying to do the right thing. We’ve got to keep these guys in business,” Freedman told Furniture Today. “If we can help out and do something to bridge funding for these guys during slow times, I think it’s a real no-brainer.”
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Pulse offers an easy-to-use online portal designed to make applying for funding fast and straightforward. Retailers answer five basic business questions and upload four months of bank statements. Most applicants receive a funding decision within 48 hours of submitting a complete application package, with funding of up to $500,000. While larger requests may require additional review, Freedman said most retailers are likely to seek short-term loans of about $100,000, which can be approved and disbursed quickly. Terms are flexible and tailored to each retailer’s unique needs, with funds issued directly by the collaborating funders.
“It’s non-dilutionary. We don’t take over the business. We have custom terms for payback. You get a blanket offer,” Freedman said. “If you need $200 grand, there’s a three-month, six-month, 12-month, 24-month option, but, of course, there’s less interest if you pay it back faster. It’s a simple, customizable and transparent funding process to make sure you get the cash you need to stay in business and grow your business.
“The money is intended for inventory financing — if you want to buy a container or swap out your floor, go ahead — or new locations, training or staffing purposes, if you need to hire people or pay your staff,” he continued. “Lastly, it’s for cash flow purposes. If you need to pay bills and make sure there’s cash in the business, it’s a super helpful thing to do.”
Freedman is no stranger to many in the retail world. He founded Dovr Media in 2016 to help independent retailers transition to the digital age and has worked with more than 500 businesses on tailored marketing services, including search engine optimization, paid advertising, AI-powered in-store signage and customer retention strategies. He said each of his ventures comes from listening to retailers, and Pulse is no different.
“When the retailers come to us and say they need help with X, Y or Z, I take it as a responsibility that this is what our job is at this point,” he said.
And while he sees this as his latest job, Freedman remains focused on helping furniture retailers modernize without losing their local voice. He will present “The AI Advantage: Boosting Sales & Customer Engagement” at Las Vegas Market on Monday, July 28 at 9am at the HFA Resource Center, Showroom B-1050.
“Our retailers are in need right now. From handling the website, marketing, advertising and now the profitability side of the business, it’s super helpful to be able to put that out there and support the industry with an additional service that’s designed around profitability and continued viability,” Freedman said.
