Bonside Tag

Financing platform Bonside has inked a $300,000 take care of yoga studio Y7. Bonside, which launched in June with $4.35 million in equity funding, provides brick-and-mortar businesses with upfront capital ranging between $250,000 and $500,000, which will likely be paid back in 1 to three percent monthly revenue increments. This marks considered one of the platform’s preliminary deals; it has also partnered with Jojo’s ShakeBar, Matchaful and Evolve Med Spa. “We generally are providing anywhere from 1 to 1.5 times what a business is doing in monthly revenue,” said Bonside founder and chief executive officer Neha Govindraj. Bonside’s mission is to focus on brick-and-mortar businesses by providing them additional financing for expansion, so that they can preserve ownership and delay...