BOHEMIA, NY, April 28, 2021 / PRNewswire / – National Business Capital, the nation’s premier FinTech loan marketplace that streamlines the application process and helps business owners unlock access to capital, today announced it has been awarded a $ 4 million transaction during the pandemic for a young, fast-growing e-commerce distributor selling collectible toys to large retail chains.
The recently funded client, an e-commerce distributor specializing in wholesaling with Fortune 100 retail chains and e-commerce transactions, suffered from the same cash-flow growing pains that hamper many small businesses. companies. Despite massive growth, the company created a year ago did not have the working capital to meet demand and continue to capitalize on additional opportunities.
Growth has been simply too fast for traditional banks to consider funding Where small business loans. Due to the pandemic, banks have put additional restrictions on lending to small businesses, making their guidelines stricter than ever.
By understanding the business opportunity to generate income and explaining it the right way to the lender’s underwriting team, National’s team helped the client secure a $ 1 million in working capital, while achieving a $ 3 million Revolving credit facility.
This funding will allow the company to continue to fill new orders as they arrive, instead of turning down sales due to backlogs. National used the value of the customer’s cash flow, receivables and inventory to secure financing, whereas most lenders would normally only consider approving a transaction of this size with a real estate guarantee.
Paul, the CEO of the e-commerce distributor, is grateful to National not only for securing funding despite the significant hurdles in this environment, but also for discovering a new financial model that will help them scale while continuing to execute. large orders.
âAs a new, fast growing company, our ability to secure meaningful and profitable financing was extremely difficult. Joe and his team have been tireless in finding the perfect financing partner for our growing business. We just couldn’t have done the deal. we have without Joe and the national team. I have already referred 4 other businesses to Joe and will continue to rely on him and his team for the foreseeable future. Sincere thanks to Joe camberato and his team who have become our main financial partners. “
Despite the current state of the economy, the collectible toy industry continues to thrive as people invest in the spaces where they live and work. Without the additional funds guaranteed by National, Paul’s company would have been forced to slow its momentum and cut sales.
Even with the second round of PPP financing Dispersed, small businesses continue to suffer from cut revenue streams and restrictive regulations, but also from a lack of access to much-needed growth capital beyond PPP financing. To achieve normal operations by the end of the pandemic, many companies are actively seeking capital to immediately resume growth.
“We are getting closer to the end of the pandemic, but small businesses still need immediate funding to cover basic expenses and capitalize on the profitable opportunities that present themselves right in front of them,” said Joe camberato, CEO of National Business Capital.
âWhen it comes to navigating today’s economy, there are two types of small business owner: the offensive players looking for opportunities and the defensive ones waiting for COVID-19 to pass. The right time to resume growth is now! “
As people get vaccinated, local governments lift restrictions and optimism grows, small businesses have rallied to resume operations. Many seek funding to cover the costs of growth before restrictions are removed for expenses such as rebuilding, purchasing inventory, speeding up marketing, etc.
According to Camberato, the fastest growing small businesses are the ones that need financing the most. Camberato attributes Paul’s success to his strategic use of both a business line of credit and small business loans as a means of closing cash flow gaps and seizing opportunities, especially since SBA loans remain difficult to qualify.
âMost entrepreneurs have a deep understanding of their business and industry, but don’t always understand financing and all of the options available to them. With the right option, financing can be used as a tool to grow. without giving up equity, âCamberato said. . âGrowing businesses with high sales volume need a lot more capital to reach the next level than businesses that solve challenges. “
âMy team and I have immense respect for the owners of American small businesses, and we’re here to help them when they need it most. I am very proud of my team and I want to thank them for all of their hard work in moving this transaction forward and, more broadly, working tirelessly to help small American businesses get back into business, âCamberato said.
The National Business Capital team is trained not only to help companies access finance quickly, but also to help them find all the relevant solutions available based on their needs and goals. Some companies may qualify for one or two options, while others may receive more than one. With products from over 75 lenders available on our platform, a thorough understanding of the options available could mean the difference between an approval and a denial.
âWe are training and continuing to educate all of our corporate finance advisors to understand the different loan products available on our platform. It is my team’s meticulous attention to detail, deep understanding of our well-rounded lender mix, and commitment to partnering with the small business in need that has helped us achieve our high success rate and build a proven experience. “
As the country progresses, Camberato looks forward to continuing to help small businesses access finance and revitalize the economy.
âWhatever challenges businesses face right now, we live in the land of opportunity, and my team is here to help them take advantage of them. “
ABOUT NATIONAL BUSINESS CAPITAL
National Business Capital is the # 1 offer in the FinTech market small business loans And services. By harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure more $ 1 billion in financing small business owners to date.
Our expert Corporate finance advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low interest SBA loans, short and long term loans and commercial lines of credit, as well as a full range of income-generating business services. We are strengthening local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!
[emailÂ protected] | www.Nationalbusinesscapital.com
National business capital
1 corporate street, office 202, Bohemia NY 11716
Toll free: (877) 482-3008 | Fax: (631) 446-6016
SOURCE Capital and national commercial services