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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SMALL BUSINESS ADVICE
Simply Business, LLC | September 27, 2022
Simply Business, LLC., a Boston-based digital insurance agency focused on small businesses, today announced the launch of a partnership with biBERK Business Insurance, a Berkshire Hathaway company, to offer workers' compensation products online to small business owners in the United States.Through this new partnership, small business owners can receive a biBERK workers' compensation quote through the Simply Business website. They also have the option to digitally bind policies and speak to a licensed insurance agent to ensure that the coverage they've selected best meets the needs of their business.
"We're committed to helping small businesses grow by providing specially tailored insurance solutions, and this new partnership makes it easier for our customers to get exactly what they need,With the help of biBERK, we're able to provide more comprehensive coverage to entrepreneurs across the country."
David Summers, Group CEO of Simply Business
This offering is currently available to small business owners in Washington D.C. and all 46 states where private carriers are eligible to operate.
About Simply Business
Simply Business is changing the way small business owners find business insurance by offering customers tailored insurance coverage online. The company began in the United Kingdom and expanded to the United States in 2017, naming Boston home. With over 850,000 customers globally, Simply Business has become a leader in the space through its commitment to a customer-first model, focusing heavily on simplicity, choice and value.
biBERK
biBERK is a small business insurance company that's part of the Berkshire Hathaway Insurance Group. All of Company's major insurance subsidiaries are rated A++ by A M Best Company with millions of customers and over 75 years of insurance experience.
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FINANCE, BUSINESS STRATEGY
Pacific Western Bank | September 20, 2022
The Alliance for SoCal Innovation ("The Alliance") is proud to announce that they have formally entered into a multi-year agreement with Pacific Western Bank to be the new lead sponsor of the SoCal Venture Pipeline program (SVP) which connects promising early stage startups with venture capital in order to improve access to institutional capital across the SoCal region. Entering its second year, the SVP program is completely free for the startups and investors who participate. The Alliance does not collect any fees or take equity thanks to this generous underwriting from Pacific Western Bank as well as continuing supporters Wilson Sonsini and KPPB LLP. Increasing capital access for innovative companies across the expansive SoCal region is core to The Alliance's mission and this particular program is a key ingredientAndy Wilson, Executive Director of the Alliance, said, "We are so fortunate in SoCal to have so many amazing founders building great startups across this massive and diverse region. However, access to critical early stage capital is not equally available to all. We rely on great partners like Pacific Western Bank who share our commitment to the region to deliver high impact programs like the SoCal Venture Pipeline."
"We are very excited to partner with the Alliance on the important mission of the SoCal Venture Pipeline program,We are committed to supporting the venture community and entrepreneurs, and the Alliance has the great ability to bring together up-and-coming tech and life science communities and connect them to relevant investors. By working together and combining our two networks, we'll be able to connect promising early stage startups with venture capital, with the hopes of creating a more balanced and diverse group of founders in the SoCal area."
Mark diTargiani, SVP of Pacific Western Bank's technology banking practice.
As part of the new sponsorship agreement, the program will now be renamed "The SoCal Venture Pipeline powered by Pacific Western Bank" and will continue to focus on matchmaking qualified early stage founders seeking seed and series A capital with the right investors. Startups based in the SoCal region who apply to be in the SVP program undergo a rigorous screening process by a team of investment professionals before being accepted into the program. Once accepted they are further vetted before receiving highly targeted personal introductions to appropriate investors in the Alliance's extensive and growing network of venture capital partners. Since launching in March of 2021, over 250 startups have applied to the SoCal Venture Pipeline program of which 31 have been accepted and received vital support through connections to investors, advisors, and additional capital resources. As a result of the program, several startups have secured venture funding and more success stories are in process. For SoCal-based tech startups that are raising $1M+ of seed or $4M+ of Series A institutional capital and meet the guidelines outlined in the program FAQ, apply now to begin the process of getting connected to the right investors.
About The Alliance for Southern California Innovation
The Alliance for Southern California Innovation (the "Alliance") is a not for profit formed in 2017 that has successfully brought together the heft of Southern California's top research institutions, local business leaders, and world-class advisors to focus on bridging critical gaps in the SoCal innovation ecosystem. The goal of the Alliance is to engage and unify SoCal's compelling diversity of talent, ideas, and perspectives in order to optimize the conditions for the region's innovators to bring breakthroughs to the world.
About Pacific Western Bank
Pacific Western Bank is a commercial bank with over $40 billion in assets headquartered in Los Angeles, California, with an executive office in Denver, Colorado. The Bank is focused on relationship-based business banking to small, middle-market, and venture-backed businesses nationwide. The Bank provides venture banking products including a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors, with offices located in key innovation hubs across the United States.
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