Company Plans to Outpace Competitors Despite Near-Recession Economy
(PRUnderground) April 3rd, 2023
National Business Capital, the leading FinTech marketplace in business financing, announced today it secured a $10 million revolving line of credit on behalf of a call center business looking to expand and take on more work.
The business was sitting on multiple large contracts from major companies – like Disney, PNC Bank, 3M, and Gamestop – and needed upfront funding to move forward. The owners also planned on opening new locations to bring on more workers and meet the increased demand for their service, furthering their capital needs.
But, as any entrepreneur knows, a plan is merely an idea until you have the capital to set it in motion. After five years of immense success, the business hit a roadblock in its growth plan that only the right lender could solve.
The call center owner found National Business Capital through a member of its Partner Program. They were referred over, and one month later, National’s team secured a $10 million revolving line of credit through their platform.
With the new contracts and location, the call center projects a 20% increase in its annual revenue. Not only will this cover the cost of their financing, but it also leaves them with excess profit to invest in further growth at a time when other industries are scaling down.
Financing in the current market isn’t easy, and securing $10 million in such a short turnaround is almost unheard of. Banks have tightened their lending guidelines in response to the Federal Reserve prime rate hikes and multiple bank failures, inflation continues to whittle away at ROI, and never-ending supply chain challenges persist across numerous industries.
The cost of capital is high enough for entrepreneurs to put their growth plans on the shelf, but savvy business owners are still pushing toward that next win, regardless of the interest rate attached to their financing.
“Interest rates are high regardless of whether you work with a bank or non-bank lender, so you shouldn’t get caught up in the cost of capital,” says Joseph Camberato, CEO and Founder of National Business Capital. “Instead, get caught up in your opportunity and, if it makes sense, move forward now and make as much profit as possible.”
Camberato credits his team for the incredible funding, specifically Ori Benyamini, Claire Garcia, Delanie Carman, and Corey Sachs. “Nothing we do would be possible without the team. The financing industry isn’t immune to challenges, but they’re much easier to solve when you have such talented people behind you doing what they do best.”
National Business Capital is in an extraordinary position to help entrepreneurs succeed in 2023 and beyond. Their unique approach to business financing bypasses lending challenges by matching entrepreneurs with the best, most competitive offers available on the market. Then, their team leverages their industry experience to provide ROI guidance and strategies to get the most out of their financing.
About National Business Capital
The limits of success should never be defined by the lack of capital. Yet, in a constantly changing financing market, many entrepreneurs struggle to access the capital they depend on to fuel growth and find success. That’s why in 2007, Joe Camberato set out to create a company that lets entrepreneurs reimagine how they access capital.
With National Business Capital, experience a business lending marketplace built for entrepreneurs, by entrepreneurs.
Discover a time-saving machine that takes approval from months to hours, letting you spend less time chasing capital and more time building your business. Leverage a network of over 75 lending partners to find the right approval for your business and secure capital without compromise. Do it all from an intuitive online platform that centralizes your business lending needs for simpler, streamlined management.
Working with NBC, gain a financing partner for the future, ensuring your business can always access the capital it needs to succeed today and tomorrow.
$2+ Billion Funded. Grow to Greatness.
Original Press Release.