Breaking Out: The Story of Bushbalm's Booming Growth with Loop

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Navigating ecommerce can be daunting, add global markets on top of that, the challenge is now more complex, costly and even risky. Nobody knows that more than Finance leaders, who help manage everything from supply chain logistics to payments. 

Loop recently sat down with Marisha Mazurek, the Finance Lead at Bushbalm to chat about the challenges of building a global ecommerce brand and what they needed to achieve monumental growth. 

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Bushbalm is solving every skin concern, across any border.

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Bushbalm started their story by creating natural products for what most women find as “embarrassing” skin concerns, and inevitably concerns largely ignored by the beauty industry. After years of research and development, Bushbalm has become the Skincare, Everywhere company. While Loop may not know much about skin chemistry, Loop specializes in doing business “everywhere”. 

Bushbalm joined Loop in September 2022, when they ramped up their sales in the US market. Growing your USD sales is a major goal for any brand or entrepreneur, but as a Canadian company, you need CAD for payroll, suppliers, vendors, shippers - the whole lot. Converting USD to CAD means forfeiting much needed cash for bank fees, and there’s no moisturizer to soothe that irritation.

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Accelerating new market growth with Loop

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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. 

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Bushbalm saves $40k per year with Loop

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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. 

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Loop is an all-in-one platform for entrepreneurs doing business globally. Open multi-currency bank accounts, spend in any currency you need, skip the FX fees and get access to capital to keep your business growing. 

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Why Bushbalm values Loop as a growth partner

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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. 

Before, Bushbalm was using corporate credit cards from a traditional Canadian bank that charged upwards 3% on foreign transactions. With Loop, Bushbalm pays nothing. Zero dollars. 

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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🚀 Join hundreds of other online sellers and ecommerce brands switching to Loop. Save time and money with Loop's multi-currency credit cards, localized bank accounts, free international payments and more.

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