BDC has worked side-by-side with Toronto-based Koru Distribution since it was founded in 2009 to distribute eco-friendly products to the Canadian wholesale market. The business, which distributes more than 35 brands of lifestyle products containing quality, toxin-free, natural and sustainable materials, continually works to improve its offerings and service to meet increased market demand.
In the early years, BDC provided Koru Distribution with working capital loans allowing the company to increase its inventory and expand its market while protecting cash flow. As the company grew rapidly, it used BDC subordinated debt financing, which made it possible to receive additional funding from other lenders. With equipment financing, Koru was also able to equip its warehouse in a new, larger location. Later on, BDC Capital assisted Koru in successfully completing its series A financing round.
With this ongoing support from BDC, Koru Distribution was able to keep building up the business and achieve a growth rate that has been in the triple digits every year since 2009. Since then, the company has quadrupled its full-time staff.
Director of Operations Corey Berman appreciates the role played by BDC in the company’s success: “BDC’s support for Koru Distribution’s growth over the years has enabled it to become the global leader in the distribution of eco-friendly lifestyle products.”