About The Mystic Florist Shop
Richard Carrillo has been a professional florist for more than 30 years. His Mystic, Connecticut floral shop, The Mystic Florist, specializes in beautiful floral arrangements—with styles that include New York City Contemporary, Hawaiian Tropical, and New England Wild and Country for weddings, anniversaries, bridal, and other special events.

Like Many Business Owners, a Line of Credit Helps Him Manage Cashflow
Carrillo uses a line of credit to help him smooth out his cashflow. That’s why when the credit card company he’d been working with for 17 years raised his interest rate by 600%; he knew it was time to re-evaluate his current situation. They suggested he could pay off his current balance at the lower rate, but any future use would be charged at the new rate, so he decided to regroup—and started by cancelling his credit line.

“I decided to pay off all my outstanding business debt to make finding and working with a new lender easier,” said Carrillo. “I needed a lender who was interested in my business, flexible and easy to work with; someone who would help me achieve my business goals.”

OnDeck Was the “Perfect” Lending Partner for The Mystic Florist
Carrillo chose a line of credit from OnDeck.

“Our relationship with OnDeck is perfect for us,” said Carrillo. “I don’t need to go into a branch office to make adjustments to my line of credit—I can do it online, it’s flexible to fit my needs, and I feel like I’m in total control.”

OnDeck wasn’t the only place he looked for financing, but he’s glad he found us on the CreditKarma website. “I really like the weekly payment schedule,” he said. “I know exactly what to expect; and the weekly payment works great for me.”

What’s Next for The Mystic Florist?
Carrillo believes bigger isn’t always better. “Too big is no good,” he said. “We offer our customers whatever they choose. If they want fresh tulips from Holland, we can have them here tomorrow. Our focus is on delivering the best customer service in the business—not adding more locations.”

That doesn’t mean Carrillo is content to let grass grow beneath his feet. He recently purchased two new delivery vans to make sure his customers get what they order when expected. “We want to be the best we can be,” he said.

What Advice Does He Have For Other Small Business Owners?
After dealing with many banks and other small business lenders over the years, he suggested you make sure you understand how easy or complicated it might be to access your credit line, as well as the process for making payments on your outstanding balance.

“The more complicated the process, the more time you have to spend away from what you do best—running your business,” he said.

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