How VIP Completions Leverages Flex for Financing Flexibility and Business Growth

In 2013, Ben Shirazi recognized a gap in the market for an offering solely focused on the customization and refurbishment of private jets. With over 25 years of experience in aviation as an inventory dealer, he had specific expertise with the upgrade process, material inventory and labor required for an aircraft refurbishment project. 

Today, VIP Completions stands at the forefront of the industry, expertly combining high-end interior design, premium materials and advanced technology integration to create ultra-luxurious flying experiences. To meet and exceed its clients’ high expectations, VIP Completions must work closely with the production team, suppliers and the client’s aviation team — and needs the right financing to meet its project-based business model.

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The Challenges of Financing a Bespoke Business

A single project for VIP Completions involves sourcing premium materials and coordinating with over 50 vendors. The cash flow requirements can be substantial, and traditional banking options often fall short of meeting the company’s unique requirements.

With a commitment to aggressive timelines, VIP Completions empowers customers to make swift decisions, thereby streamlining production time. “We don’t take our commitments lightly, and we built our process and team around delivering on them” says Shirazi.

However, as much as VIP Completions has refined its internal processes, the company can’t always control external factors. In one case, a client’s schedule pushed their aircraft to the facility more than 60 days past when it was originally expected, with purchased inventory and completed work waiting to be installed.

A typical million-dollar project, material costs represent up to 30-35%, in addition to labor expenses. The company relied on a competitor’s card offering 30-day payment terms. This sometimes caused cash flow hurdles or necessitated funding from the parent company to bridge gaps. These scenarios prompted Shirazi to look for alternative financing options that would better fit the company’s distinctive needs.

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VIP Completions Secures a Powerful Financing Solution with Flex

Shirazi refers to himself as “old school” and reached out to entrepreneur friends looking for advice. One suggested Flex and put Shirazi in touch with CEO Zaid Rahman. Trusting his friend’s recommendation, Shirazi said that switching to Flex was an easy decision.

Flex offers 60-day repayment terms, which have had a significant impact on VIP Completions’ business. “We have an extra 30 days to manage expenses, improve margins, and better manage cash,” says Shirazi. “That flexibility means we no longer have to finance our clients’ up-front project costs.

Shirazi was able to talk with the Flex founders from day one. He values this direct access to decision-makers with “no third parties, no red tape” — a big difference from his experience with American Express. The entire VIP Completions team found Flex to be supportive and helpful, both during initial onboarding and throughout the relationship. Working with Flex has been “a pleasure,” says Shirazi.

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Enhanced Efficiency and Flexibility for Business Operations

Flex gives VIP Completions a lot of flexibility to finance inventory up front. Renovating private planes with low capital used to be a factor the company had to juggle. “Should we draw from our account or should we fund it? That’s the question we used to ask often,” says Shirazi. “Now we don’t have to anymore with net-60 terms.”

Flex has given VIP Completions the financial freedom to push boundaries and order the expensive materials that its customers expect.

“Having the ability to float these expenses efficiently keeps our operation running smoothly,” says Shirazi. “Flex’s structure is a perfect fit for industries like ours, where external capital is often required to maintain momentum.”

Unlike traditional financing solutions (like a bank), the seamless financial solutions offered by Flex allow VIP Completions to work autonomously without constant oversight. In addition to 0% interest for 60 days, the Flex Credit Card offers unlimited cashback and travel and lifestyle rewards on eligible purchases.

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The Flex Credit Card: Built for Growing Companies 

Looking to the future, VIP Completions has big plans, including growing its capabilities and product offering to reach even more markets as well as opportunities for products targeting other aircraft maintenance shops. 

A financial partner supporting its continued growth is critical for VIP Completions. “Flex understands our needs, provides real-time insights, and adapts to our business,” says Shirazi. “It’s been a game-changer.” Rather than feeling confined by net-30 payment terms, Shirazi can focus on what VIP Completions does best: delivering world-class jets to its clients.

Shirazi adds, “If your business needs financial solutions built for growth, Flex is the answer.”

To learn more about Flex’s business credit card, click here.