Most businesses are smaller than you think. In the US, over 97% of businesses have fewer than 20 employees, according to the Small Business Administration. While banks generally focus on large corporations, small businesses need credit as well, and it can be quite difficult to find. And businesses that have access to credit need to make sure it’s priced properly Our belief is that many small businesses need competitively priced credit, and Cin7 is actively working to provide credit solutions for our customers.
Credit and Cash Flow
Often, the need for credit is driven by a desire to accelerate cash flow. Accelerating cash flow frequently involves speeding up the collection of receivables. Unfortunately, receivables financing (commonly referred to as “factoring”) is today a highly dispersed business of mostly small, local firms.
Good Deal is Hard to Find
Finding a good deal can be difficult. The price of funding can be surprisingly high, and transparency is often limited. Terms and definitions can differ from the types of lending people are familiar with. For businesses without significant financial expertise, this can be problematic.
Cin7 and Tap Squared
Cin7 is exploring a program to get you immediate and fairly priced cash for your approved outstanding invoices. We are working with TAP-Squared of New York, a platform service that links merchants directly with lenders that provide fairly priced and transparent credit. Find out more by clicking below.
Learn About Tap Squared