It didn’t take long for FORM Products Group’s affordable custom orthotic insoles to catch on with sports enthusiasts and the general public. The Calgary company started manufacturing and selling the insoles through a network of sports retailers across North America in 2014 and was ready to expand just a year later.
When FORM Products came to BDC looking for start-up support, the company’s sound management, solid expertise and good business strategy really stood out. BDC helped get FORM Products off the ground by providing constructive advice as well as a complementary flexible start-up loan with a six-month postponement period. By the beginning of the company’s second year, sales had increased six-fold.
The next year, FORM was ready to take the business to the next level and BDC supported the company once again with working capital that included a 12-month postponement and five-year repayment period. With this support, FORM was able to expand its product line and started to fill bigger orders.
The business is now expecting to double its previous year’s sales. “BDC has supported us every step of the way and has been essential to our growth,” says FORM Co-founder and Executive Vice-President Andrew Slatter.
For Slatter, it’s the BDC staff that has made the difference. “They understand our business and our products and the trajectory we want to follow,” he explains. “I strongly recommend dealing with BDC.”