National Business Capital, a fintech marketplace offering small business loans and competitive financing options, secured a combined $11 million in capital to support an entrepreneur looking to take their operation to the next level.
The client, an apparel wholesaler, supplies major retailers, but they couldn’t purchase inventory fast enough because of cash flow constraints from expedited growth.
The supply chain issues that have plagued businesses since the pandemic are still evident today. All business owners are having difficulty finding the materials they need to meet the demand of their clients, especially those in retail distribution.
With growth on the horizon, the company needed to access a significant amount of capital to increase its buying power and fulfill the demand of its clients. The company reached out to its bank and found that it was growing too fast for its lending capabilities, so it came to National for a financing solution to continue its growth.
National collaborated with the company’s current bank, brought it up to speed and worked in tandem to secure a separate $7 million revolving line of credit facility, as well as an additional $4 million term loan. Due to the collaboration, the client was able to continue working with their bank, too, which eliminated any potential disruption in their daily operations.
Now, with the new facilities in place, the company is positioned to achieve a new level of buying power. This will help it fulfill the demand of its clients, prevent it from missing out on new revenue opportunities, and, more importantly, support its continued growth in the apparel industry.
“Financing of this caliber isn’t easy to achieve, especially in the current economic climate. This deal was possible due to years of financing relationships,” Joe Camberato, CEO of National, said. “There’s a reason we have 75-plus lenders on the platform. It’s not about receiving just any approval; It’s about finding the right lenders to help support your growth.
“I want to give notable praise to my team. Our years of partnerships with lenders really shine through here, but having a team of seasoned finance professionals to support the transaction was more than a contributing factor in the success as well.”
