Startup CPG Newswire:
Startup CPG Joins Forces with Bags to Launch Comprehensive Financing Database for Emerging Brands
PRESS RELEASE — NEWS PROVIDED BY Startup CPG
LOS ANGELES, Calif., June 17, 2024 — Startup CPG, the largest community of CPG brands in the world with a reach of over 100-thousand, has joined forces with Bags, a financial management platform solving access to capital challenges for growing businesses, to create an exclusive financing database listing non-dilutive funding options for emerging brands.
“We’re excited to introduce this exclusive financing database,” states Founder & CEO of Startup CPG, Daniel Scharff. “In today’s challenging fundraising environment, early-stage venture capital is incredibly difficult to come by. Until valuations improve and brands can secure better deals for their equity, lending seems a critical alternative, and I know of quite a few brands that have used it strategically to grow while preserving their equity.”
The list comprises over 60 lending institutions, with summarized research on each including services, loan types, minimums and contact info, to make it easy to sort on what’s most important for the brand.
“Debt financing is one of the best ways to shorten your cash conversion cycle, especially when expanding into retail,” Daniel Taylor, Co-founder and CEO of Bags said. “The name of the game is ensuring you find the right funding, for the right use case to unlock cash and fuel revenue growth, and this database will help you do that.”
Bags’ company mission is in line with Startup CPG’s – to save brands time and money when exploring financing options. Bags’ platform is built to help CPG brands manage their finances and fund growth with financing from equitable lenders. Brands looking to save time can book a free call with the Bags team directly from the database and get support to identify the right financing options for the company. By leveraging Bags tools for effective financial management and documentation, companies that use the platform are up to 3x more likely to get approved.
“Properly capitalizing your business is critical to growth and this database does a great job of outlining the variety of options that are out there,” shares Max Dichter, CEO of ghee market-leader 4th & Heart. “We all know how difficult it can be to find capital, so having all of this information in one place is incredibly valuable for brands.”
If you’d like access, join the Startup CPG Community to receive all resources in your inbox, or you can access the database directly here.
About Startup CPG
Startup CPG is the national community for emerging brands, a free resource to help all brands scale and find help faster. We publish The Startup CPG Podcast (a top 1% global podcast), host nearly 100 events per year, both in-person and virtual, and manage our 20-thousand person Slack community, which includes brand founders, service providers, buyers, venture capitalists, and industry veterans — all eager to share unlimited knowledge and support.
If you haven’t already, sign up to join the largest CPG community in the world to receive and share on-the-spot advice, industry news and data, and exclusive discounts and opportunities for emerging brands.
About Bags
Bags is a financial management platform built to solve access to capital challenges for growing businesses. Our focus is to ensure that business owners have the tools and information they need to finance their growth and maximize their cash flow, which means we take on responsibility for financial documentation, bookkeeping, and accounting to help unlock dollars. Through our deep network of lending partners, Bags customers are approved for financing faster, more often, in larger amounts, and at a lower cost of capital— and they get a long-term debt management strategy to increase available credit over time.
Advertising Notice and Disclaimer
Startup CPG provides this financing database strictly as an informational reference. We have not vetted any of the resources listed here and make no representations about the quality or appropriateness of the services they provide. Bags is a paying sponsor of Startup CPG and Bags or Startup CPG may receive commissions if users click and apply through the contact links. Startup CPG makes no warranties about the accuracy or completeness of the information provided in this database. Use the information in this database at your own risk. Startup CPG does not provide financial advice. We encourage you to seek financial advice from competent professionals and to carefully research your options for obtaining commercial financing. ALL INFORMATION IS PROVIDED AS IS WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED. STARTUP CPG EXPRESSLY DISCLAIMS THE IMPLIED WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE.
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