SMALL BUSINESS ADVICE
Capital on Tap | September 28, 2022
Capital on Tap, a global FinTech providing access to an all-in-one small business credit card and spend management platform, introduced virtual cards as part of their mission to help small business owners run their businesses faster, simpler, and more efficiently.The virtual cards will be available immediately for the majority of approved applicants. Most applicants receive a credit decision within 24 hours, meaning approved cardholders will be able to make purchases on their Capital on Tap Business Credit Cards, issued by WebBank, within just one day of submitting their application.
"For busy small business owners, the virtual card is a true game changer,David Luck,Having immediate access to funds is critical for success in this challenging business climate that often requires quick decisions and multiple strategic pivots."
Co-Founder and CEO of Capital on Tap
Virtual cards can be added to Google and Apple Pay accounts so cardholders can immediately make purchases in person or online. Small businesses also benefit from an added layer of security with virtual cards. Cardholders can replace them in real time, so if the account information is compromised or even if a cardholder makes a purchase from a vendor, they just don't feel completely confident in they have the option to void that card for all future purchases and instantly generate a new one. With no lag time between the cancellation of the card and the receipt of the new one, cardholders will never be without access to funds. Of course, all security features of the physical Capital on Tap Business Credit Card also apply to virtual cards.
Account holders can also set spend limits on their virtual cards. This is useful for business owners who want to issue a virtual card for single use, such as travel or a large purchase. While account holders are currently limited to one virtual card per account, the option to generate multiple cards simultaneously will be available later this year, allowing cardholders to issue virtual cards to individual employees, and even designate separate virtual cards for different categories of business spend.
About Capital on Tap
Capital on Tap makes it easy for small businesses to manage their business spending, access funding, and earn best-in-class rewards. More than 200,000 small businesses have spent $5 billion on their Capital on Tap Business Credit Cards across the US and UK.
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BUSINESS STRATEGY
Fora Financial | September 22, 2022
Thryv Holdings, Inc, the small business platform for growing small- to medium-sized businesses, announced a partnership with Fora Financial to offer small businesses access to the capital they need to grow.Fora Financial will now be offered through Thryv’s growing marketplace, allowing business owners to apply for lending in minutes. Fora Financial offers terms up to 15 months, flexible payments, early pay-off discounts, and no restrictions on use of funds. The partnership offers a range of financing amounts from $5,000 to $750,000 with no collateral required. Small Business Administration (SBA) 7(a) loans, the most common in SBA’s portfolio, require collateral if the loan amount is greater than $25,000. The approval process for Fora Financial financing occurs in less than 24 hours, and once a financing is approved and terms have been accepted, capital is available in 72 hours. We have always been committed to helping small businesses solve a variety of needs, and in the current economic climate, helping them gain access to capital is a priority, said Ryan Cantor, chief product officer at Thryv. Whether it’s adding a truck to their fleet or a game-changing piece of equipment, small businesses have evolving needs and Thryv helps solve them.
“At Fora Financial, we are dedicated to providing small businesses with the fast, uncomplicated funding solution they require to succeed, As the economic environment continues to change, our consultative approach to understanding small business’ needs will offer the Thryv community the working capital required to grow and thrive.”
Fora Financial president Andrew Gutman
Thryv clients have seen significant advantages to joining the platform, including a 25% rise in the number of average customers, 61% increase in number of appointments booked, and 86% growth in annual revenue through bookings and payments. Learn more about the platform, including free, unlimited support 24/7 from small business specialists at thryv.com.
About Thryv Holdings, Inc.
Thryv Holdings, Inc. (NASDAQ:THRY) is a global software and marketing services company that empowers small- to medium-sized businesses (SMBs) to grow and modernize their operations so they can compete and win in today’s economy. Over 46,000 businesses use our award-winning SaaS platform, Thryv®, to manage their end-to-end operations, which has helped businesses across the U.S. and overseas grow their bottom line. Thryv also manages digital and print presence for over 400,000 businesses, connecting these SMBs to local consumers via proprietary local search portals and local directories. For more information about Thryv Holdings, Inc., visit thryv.com.
About Fora Financial
Fora Financial is a leading business financing lender that has provided over $2 billion to more than 25,000 business owners nationwide. Fora Financial offers flexible financing solutions to small and medium sized businesses in need of additional working capital to sustain or grow their enterprise. The company places a high value on transparency and provides businesses with fast, personalized small business loans and revenue advances, leveraging its state-of-the-art proprietary technology, industry-leading sales capabilities and dedicated customer service. Founded in June 2008, Fora Financial employs over 200 people at its New York City, Miami and California locations.
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FINANCE, BUSINESS STRATEGY
Informatica | September 21, 2022
Informatica , an enterprise cloud data management leader, today announced that UK Export Finance is modernizing to the cloud with Informatica’s Intelligent Data Management Cloud (IDMC), freeing up team resources to better serve UK businesses of all sizes and sectors. UK Export Finance is the world’s first and oldest export credit agency, its mission is to advance prosperity by ensuring no viable UK export fails for lack of finance or insurance, doing that sustainably and at no net cost to the taxpayer. In the last year it supported 545 companies supporting exports in 61 countries. The small but nimble department is undertaking a digital transformation journey and selected Informatica to modernize its data architecture on a single cloud platform. Informatica’s IDMC enables enterprises to manage, own and derive insights from their data in the Cloud. UK Export Finance kicked off its digital transformation with a focus on connectivity and fast data ingestion. The IDMC enabled seamless integration with Azure DevOps and Power BI and allows UK Export Finance to manage all data pipelines from a single, browser-based tool and usage-based pricing has lowered the total cost of ownership. With a legacy integration stack, the UK Export Finance technology team was spending more and more time on maintenance and manual hand-coding to rebuild connectors to meet the specs of modern data architectures, taking time away from important projects. This, along with evolving international standards and regulatory requirements, made it the right time to modernize to the cloud. After an intensive decision-making progress, UK Export Finance chose Informatica’s cloud-native IDMC for its best-in-class capabilities, wide array of codeless connectors, and ease of implementation. With AI-powered automation and re-usable templates, IDMC has reduced data loading and build times by 40%, allowing the UK Export Finance technology team to focus on more strategic initiatives. Developers and data scientists are no longer tied down with maintenance and instead applying their expertise in building reports that unearth insights and value from the data for the UK exporters the department serves. With a mission to better serve British businesses to enter new markets, maximize growth potential and increase the volume of export sales, our team looks to data to unearth insights and uncover new strategies,” said Daniel Cozens, Senior Technical Lead, UK Export Finance. “Informatica’s Intelligent Data Management Cloud has helped alleviate the maintenance and build burden, allowing our team to work on more interesting, strategic initiatives and deliver data-driven recommendations for the UK Exporters we support.
“How businesses manage and innovate with data can be the decider on whether they become an industry disruptor or get left behind. With the IDMC, UK Export Finance can improve operational efficiency, eliminating inefficient hand coding and democratise data across the department to allow faster time to value and timely insights,We’re pleased to be working with UK Export Finance to unleash the power of its data to help UK businesses and industries thrive.”
Jason Tooley, VP Informatica
About Informatica
Informatica (NYSE:INFA), an Enterprise Cloud Data Management leader, empowers businesses to realize the transformative power of data. We have pioneered a new category of software, the Informatica Intelligent Data Management Cloud™(IDMC), powered by AI and a cloud-first, cloud-native, end-to-end data management platform that connects, manages, and unifies data across any multi-cloud, hybrid system, empowering enterprises to modernize and advance their data strategies. Over 5,000 customers in more than 100 countries and 85 of the Fortune 100 rely on Informatica to drive data-led digital transformation.
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