- Xplor Technologies launches Xplor Capital to provide easier access to capital for small businesses, including fitness studios, based on sales volume from its SaaS products like Mariana Tek.
- Mariana Tek, serving fitness studios in the U.S., Canada, and the U.K., offers financing eligibility without credit requirements through Xplor Capital.
- Xplor Capital offers pre-approved funding ranging from $500 to $10 million with transparent fixed percentage repayment and quick accessibility within one business day.
- The funding can be used for various purposes in fitness businesses, such as remodeling, opening new locations, purchasing equipment, or providing staff training.
- Xplor Capital plans to expand globally, following a similar model to Mindbody Capital, which aids the fitness industry’s post-pandemic recovery in the U.S. through Parafin.
Xplor Launches Fitness Studio Funding Initiative
Xplor Technologies has made a significant move in the financial technology space by introducing Xplor Capital, a funding arm tailored to provide small businesses, particularly those in the fitness and wellness sector, with easier access to capital. This new financing solution is designed to benefit companies utilizing Xplor’s SaaS products, such as Mariana Tek, a boutique fitness platform. With Xplor Capital, businesses can now access integrated payment capabilities and expanded financing eligibility based on their sales volume from platforms like Mariana Tek, rather than traditional credit metrics.
The Importance of Fitness Studio Funding
The launch of Xplor Capital comes at a crucial time for small businesses, especially in the fitness industry. Despite the optimism among small business owners, as highlighted in findings by Goldman Sachs, concerns over accessing capital remain prevalent. Rising inflation and increased operating costs have posed challenges for businesses looking to grow and expand. Xplor Capital aims to address these barriers by providing a seamless lending experience that empowers business owners to access the funding necessary to achieve their goals.
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Empowering Fitness Businesses with Growth Capital
Xplor Capital offers pre-approved funding offers ranging from $500 to $10 million, with repayment structured around a fixed percentage. What sets this financing solution apart is the absence of late penalties or exorbitant interest rates typically associated with traditional lending practices. This approach aims to provide businesses with transparent and efficient access to growth capital, enabling them to make strategic investments in their fitness studios. Whether it’s remodeling, opening new locations, purchasing equipment, or investing in staff training, Xplor Capital offers the flexibility needed to fuel growth in the fitness industry.
Expanding Reach and Global Presence
The impact of Xplor Capital is already being felt in the U.S., with plans for a global rollout across the company’s product suite. Mariana Tek, one of Xplor’s key platforms, has also made its mark in the U.K. market through a partnership with 1Rebel, a prominent fitness brand in London. The platform’s expansion into Europe and Australasia in the coming year underscores Xplor’s commitment to supporting fitness businesses on a global scale. By providing access to growth capital efficiently and transparently, Xplor Capital is poised to make a significant difference in the fitness and wellness industry worldwide.
Innovative Approach to Financial Support for Fitness Studios
Xplor Capital’s model bears resemblance to Mindbody Capital, another funding initiative launched to aid the fitness and wellness industry in its post-pandemic recovery. Powered by Parafin, a leading fintech solution provider working with renowned platforms like Amazon and DoorDash, Mindbody Capital focuses on rebuilding and supporting businesses in the U.S. The emergence of Xplor Capital alongside Mindbody Capital signifies a shift towards more innovative and accessible financial support for fitness studios, marking a positive development for the industry as a whole.
The introduction of Xplor Capital represents a significant step forward in providing much-needed financial support to small businesses in the fitness and wellness sector. By offering a transparent and efficient lending experience, Xplor is empowering fitness studios to fuel their growth and expansion initiatives. As the global fitness industry continues to evolve, initiatives like Xplor Capital and Mindbody Capital are essential in driving innovation and resilience within the sector.
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