Bushbalm expands into new markets with Loop
Bushbalm was frustrated with the limited offering of traditional providers, especially for businesses who generate revenue outside of Canada and pay expenses in foreign currencies. Without a multi-currency credit card, you couldn’t avoid FX fees, which like acne, multiply fast! In most cases, vendors are only set up to accept 1 payment method on file, so if you’re incurring expenses in multiple currencies, you’re subjected to only pay in 1 currency. But it’s 2023, if we have solutions for pesky in-grown hairs, we can eliminate pesky FX fees by enabling businesses to pay in the currency they choose. Use a multi-currency credit card to pay for shipping, ad spend, travel - basically anything you need for your business.
Ecommerce brands are facing a hyper-competitive market in 2023 and rapidly rising costs. But rather than cutting back on ad spend, inventory or growth, cut unnecessary costs like bank fees.
Bushbalm saves $40k per year with Loop
FX fees really do add up, by switching to our multi-currency product, Bushbalm was able to save $3k per month or close to $40k per year. It's not just savings though, with Loop, Bushbalm accessed more flexible repayment options and could streamline their ops by reconciling in minutes with direct integrations for bookkeeping.
Bushbalm values Loop as a growth partner
Bushbalm continues to save on average 40k a year with Loop, opening up cashflow to be used on inventory, marketing, development and other uses to grow their business. Bushbalm’s competition is losing much needed cash on bank fees.
Selling across borders into new markets should be exciting for any entrepreneur. Unfortunately, the market is stacked with traditional offerings that are archaic, inflexible and downright expensive. Loop - as your banking partner - can manage all your global banking needs, from corporate cards to international payments, invoicing, FX, capital and so much more - in multiple currencies, and all in one unified platform.
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