Background
A Business Looking to Take the Next Step
Food connects people with memories and culture, in particular when living in another country, and that’s exactly what Shah Brothers grocery store does. Based out of Prince George British Columbia, they sell a wide array of specialty Indian/Sub-continental good and beauty products, providing a taste of home and familiarity for the growing sub-continent immigrant community in the area.
Challenge
Traditional Funding has Rigid Requirements
A great reason to seek out financing is business expansion. If business is going well and you’re looking to buy more inventory, open another location, or purchase additional equipment it can be quite a let down to have those hopes stopped in their tracks due to a lack of available cash flow to make it happen. After all, if business is booming you would think you’d be the perfect candidate for financing. Unfortunately conventional financing has many more requirements and strict criteria to qualify, plus the time it takes to be approved for financing may mean putting those expansion dreams on hold.
For Shah Brothers, with business going well they were looking to expand their convenience store to a more specialized Indian grocer, which meant first and foremost purchasing more inventory.
Solution
Ability to Purchase Inventory Meant Tapping to A New Area
Funding from Merchant Growth allowed them to capitalize on their existing business success, allowing them to purchase the necessary inventory to finally make the transition to a specialized grocer, which was mutually beneficial for the business and better service the needs of their community.
Result
Continued Business Growth and Future Planning
With a bit of hard work and patience after this business shift amidst the many global challenges, the financing helped Shah Brothers take the next step in their business plan.
Having had such a positive experience working with Merchant Growth, when looking for additional funding, Shah Brothers did not hesitate to reach back out to Merchant Growth. We truly believe that repeat business is one of the best compliments we can receive. It means that not only did a business trust us to help with their funding needs, but they were so satisfied with the experience that they didn’t hesitate to work with us again. Ultimately for Shah Brothers, getting financing meant planning for their business future, both through expansion, and with more available cash flow they were also able to consider their longer-term financial goals such as investing in an RRSP.
