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The Story of NOW

NOW's STORY STARTED WITH NOURISH

It’s a story with an unexpected twist.

Before NOW Corp, Lara started Nourish.

The company sold a patented children’s product.

And, sales growth was good.

Then, she started selling to national retailers.

Every business owner dreams of these customers.

But, the growth threatened to put her out of business.

Lara Hodgson speaking at Venture Atlanta Lara Hodgson, Founder and CEO of NOW Corp, speaking at Venture Atlanta

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The bigger the customer, the slower they pay

THE SHACKLES OF SUCCESS

After receiving the big order, the clock started ticking.

The order had 30-day terms. So Lara negotiated 60-day terms with her suppliers.

60 days came and went, and still her customer hadn’t paid her.

Like many businesses, Nourish was growing to death.

It was a free bank for its customers.

WHY AM I A FREE BANK?

Lara knew about loans, lines of credit, and factoring.

Raising equity was expensive and diluted her ownership.

Lara asked, “Why am I the bank?”

“Why borrow money only to lend it to my customers for free?”

After all, an invoice is a free loan, she thought.

“There has got to be a better way.”

THE AHA MOMENT OF THE STORY

The aha moment came while having lunch at a restaurant.

Retailers don’t wait to get paid—they take credit cards.

It doesn’t matter when the customer pays their card’s bill.

So, Lara and her business partner re-engineered the concept.

They invented a never-before-seen method of B2B payment.

HOW DOES NOWaccount WORK?

How can it impact your revenue 300% per year?

What are the benefits?

What kind of companies use it?

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