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Member Spotlight

Member Spotlight: Christo Properties

August 13, 2020 | Written by Lauren Simmons

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Meet Chris Rugh

BizX Member Since: 2005

"BizX has helped me to maintain my profit and loss statement and balance sheet during COVID-19, all while helping my tenants move forward and stay current on their rent obligations without completely draining their cash reserves or losing everything they have. I was using BizX well before COVID-19 happened though. It’s a great way to leverage excess inventory you have for creative business solutions in any situation."

As a small business owner in the Seattle area, Chris Rugh often talks with other local business owners about their processes and practices. This is how he first heard about BizX – through a friend in a business group.

 

Once Chris learned more about the platform, he started to understand how it could help his real estate business ventures. These days, BizX helps him smoothly manage complex real estate deals with cashless transactions that ultimately help his tenants, vendors or customers better manage their cash flow.

 

Typically, when collecting rent from tenants, he’ll offer to accept gift certificates from restaurants and businesses if it isn’t possible for them to pay using cash. A few of the tenants are currently doing this, and it’s working great. Chris can then turn around and sell those gift certificates to BizX, gaining BizX dollars that he's able to use on the platform to purchase other things. Chris has earned new customers through BizX, and used the platform to hire contractors, marketers and advertisers. Chris says he appreciates the platform’s flexibility, which enables him to craft a deal so that it is better for everyone, instead of being stuck using one currency.

 

BizX has helped him to maintain his profit and loss statement and balance sheet during COVID-19, all while helping his tenants move forward and stay current on their rent obligations without completely draining their cash reserves or losing everything they have. Chris was using BizX well before COVID-19 happened, though. "It’s a great way to leverage excess inventory you have for creative business solutions in any situation."

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