Boulevard Capital Delivers Fast Funding to Elevate the Self-Care Industry

Challenge

Historically, traditional financing has been out of reach for many of the self-care businesses that they serve. These brick-and-mortar small businesses often operate on tight margins that severely limit their investment in growth, particularly through avenues like marketing, staffing, equipment upgrades, and new locations.

This gap is especially pronounced for women- and minority-owned businesses, which make up a significant portion of the self-care industry and are notoriously underserved by banks. With deep understanding of the day-to-day needs of these salon, spa, medspa, and barbershop owners, Boulevard identified a critical need amongst their customers that they could help solve: access to working capital.

Solution

Boulevard sought an embedded solution that offered fast, flexible access to capital based on demonstrated business performance rather than credit history. Moreover, they wanted to work with a true partner that shared their values and was invested in building toward their long-term vision.

“Pipe delivered the same seamless experience we provide our customers,” said Matt Danna, co-founder and CEO, Boulevard. “The roadmap they shared and the collaboration they demonstrated made our potential partnership a strong mutual fit. In addition, Pipe’s capital product presented a compelling revenue opportunity for Boulevard.”

Results

Today, with Boulevard Capital, the company enables pre-qualified customers to access funding without delays, credit checks, and paperwork that accompanies traditional loans. Pipe’s streamlined process allows Boulevard’s customers to access capital offers based on transaction data. This approach not only democratizes access to capital but also aligns payment with the merchant's sales cycles, so they’re never stuck with a high fixed payment during a slow period. 

The elevated user experience drives increased merchant loyalty and retention to the platform. In just over a year following launch, Boulevard advanced over $25 million in capital to hundreds of unique merchants. 

Merchants who have accepted a capital offer have nearly doubled their average monthly revenue growth rate. The increase in merchant revenue has also provided a significant boost to Boulevard’s gross payment volume. By providing easy access to capital through Pipe, Boulevard empowers underserved small businesses to achieve more, faster.

Simplified Capital Access: How It Works

For Boulevard users, accessing capital has never been simpler. Pipe’s streamlined process allows them to get pre-approved based on their Boulevard transaction data, so they can access the capital they need without credit checks or lengthy financial histories. This approach not only democratizes access to capital but also aligns payment with the merchant's sales cycles, so they’re never stuck with a high fixed payment during a slow period.

By partnering with Pipe, Boulevard gives the self-care industry:

• Friendly Capital: We offer competitive cost of capital, presenting an attractive alternative to other higher-rate funding options.

• Same Business Day Funding: Qualifying businesses can receive funds within hours after approval, subject to their bank's deposit hold policies.

• Flexible Payments: Payments are a percentage of revenue, ensuring they adjust to the business's sales cycles.

• Transparent Pricing: One straightforward fee paid over time, with no hidden costs, interest, or requirement for personal collateral.

Expanding Opportunities: Launch Capital in Your Industry

Boulevard is a great example of how vertically focused Payfacs and ISVs can bring capital access to industries that need it most. Pipe’s mission is to expand access to unbiased capital for SMBs. No one knows SMBs better than the vendors that serve them, and there’s no better place for them to access capital than the platforms they use to run their businesses every day. Pipe’s infrastructure is designed to embed seamlessly, offering capital access to your merchants with just a few clicks, all while feeling native to your platform.

Partner with Pipe

Embedded capital solves the biggest problems SMBs face in almost any industry; access to working capital. Ready to unlock growth for your customers, while also growing your GPV and increasing user loyalty? Schedule a demo with us today.