CROSS RIVER | July 13, 2022
SmartBiz®, the leading AI-powered financing platform for small businesses and Cross River®, a technology-driven financial services organization that provides core infrastructure and embedded financial solutions, announced a partnership to equip more U.S. small businesses with access to the financing they need to grow.
The partnership enables Cross River to leverage SmartBiz’s best-in-class digital application, on top of its existing tech-stack, for a faster and more efficient process for small businesses to obtain funding, with Cross River powering the financial services on the backend. SmartBiz’s application consists of AI-driven processing and exceptional customer experience with transparency to streamline the process of connecting more entrepreneurs with SBA 7(a) loans - a critical financial tool for small businesses.
“We’re thrilled to join forces with SmartBiz to make an elevated SBA financing experience more readily accessible to small business customers, SmartBiz is at the forefront of the loan optimization process, and like Cross River, is operating at the intersection of cutting-edge technology and stellar customer service."After weathering two years of a pandemic economy, many U.S. small businesses are eager to increase their working capital to adapt, rebuild, and grow. Although small businesses comprise the overwhelming majority of all American businesses, they often find themselves forced to navigate an antiquated, opaque, and inefficient process to obtain financing.
-Eli Hazan, Head of Business Lending at Cross River.
Our technology does the heavy lifting by automating as much of the process as possible, and our dedicated customer support team assists entrepreneurs through the entire application process,” says Evan Singer, CEO of SmartBiz. “We’re proud to integrate this technology with Cross River as we know they share our goal of equipping every entrepreneur with access to smart capital.
SmartBiz and Cross River are committed to helping small businesses across the U.S. acquire the funds they need for stability and growth. A crucial source of employment and the unheralded centers of so many communities, small businesses play an essential role in driving our economy. Both teams recognize the role that innovation will play in fortifying these businesses to meet and make the future. SmartBiz and Cross River Bank look forward to working together to further simplify funding solutions and increase the volume of financing accessed by this vital customer group.
SmartBiz is the leading AI-powered small business financing platform equipping entrepreneurs with access to the right capital at the right time. To date, SmartBiz has connected borrowers with more than $9 billion in financing while increasing efficiency for its network of banks and trusted lending partners. More than 230,000 entrepreneurs have utilized SmartBiz to access the funding they need to grow, with 60% of loans made to minority, women, or veteran-owned businesses. SmartBiz was named the Top Small Business Lending Platform by LendIt Fintech® in 2022 for excellence in keeping the economy running through successful loan performance, volume, growth, product diversity, and innovation. Founded in 2009 and headquartered in San Francisco and Austin, SmartBiz is backed by Venrock®, Investor Growth Capital®, First Round Capital®, Baseline Ventures®, and Uncork Capital®. Learn more about smartbizloans.com.
ABOUT CROSS RIVER
Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, lending and crypto solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.
Funding Circle | September 08, 2022
Funding Circle, the leading online platform for small business loans, and Affinity Plus Federal Credit Union (Affinity Plus), a Minnesota-based credit union, are partnering to provide small businesses with access to credit in communities throughout Minnesota and across the country. The partnership enables Affinity Plus — the first credit union investor to partner with Funding Circle — to purchase loans originated through Funding Circle’s world-class machine learning and technology platform. The platform offers investors a highly efficient and cost-effective mechanism to lend directly to small businesses, and in turn provides business owners with a streamlined application process and timeline. In addition to its members in Minnesota, Affinity Plus will now be able to offer loans to businesses across the nation.
“Our work with Affinity Plus underscores our commitment to building a more inclusive financial environment for small businesses to grow and thrive with a diverse array of institutions.“We are excited to help Affinity Plus reach even more small business owners playing a critical role in local communities and supporting local economies throughout the country.”
Angus Sanders, Chief Revenue Officer at Funding Circle US
“Affinity Plus is committed to financial inclusion for its members and their communities – by making available affordable products and a deeper connection that helps take the stress out of finances,” said Matt Fuller, Vice President of Finance and Risk Management at Affinity Plus Federal Credit Union. “Funding Circle is a leader in responsible small business lending, and we are thrilled to leverage our partnership to provide businesses throughout the country with fast and simple access to financing, allowing them to grow their business, create new jobs and power the economy.” Affinity Plus joins a wide range of institutions leveraging Funding Circle’s platform, including regional banks, technology companies, service-to-member institutions and community development financial institutions (CDFIs), marking another step forward in a growing collaboration between Funding Circle and the banking community. The announcement follows a recent Federal Reserve study showing that Funding Circle has been able to expand credit access to underserved small business owners who are not likely to receive funding from traditional lenders, noting it has done so at a lower cost to borrowers and made it possible for those banks to reach new customers during the pandemic.
About Funding Circle
Funding Circle (LSE: FCH) is a small and medium business (“SMB”) loans platform. Since launching in 2010, investors and lenders including banks, community development financial institutions, specialty finance companies, asset management companies, insurance companies, government-backed entities, and funds – have lent approximately $18 billion to over c.120,000 businesses globally.
About Affinity Plus Federal Credit Union
Based in St. Paul, Minn., Affinity Plus Federal Credit Union is a not-for-profit, financial cooperative that puts people first above profits. Members of Affinity Plus receive maximum value through competitive rates, minimal fees, and unique, member-centric products and programs. Established in 1930, Affinity Plus has 30 branches located throughout Minnesota and is owned by more than 240,000 members. Affinity Plus has more than $3.9 billion in assets.
T-Mobile | July 25, 2022
T-Mobile (NASDAQ: TMUS) is joining forces with Apple to introduce a plan JUST for small businesses that tackles pain points they face keeping their business and employees connected. Available today, Business Unlimited Ultimate+ for iPhone is the first and only wireless plan that makes IT easy for small businesses, pairing Apple Business Essentials with AppleCare+ for Business Essentials, along with a new iPhone 13 for new lines, 200GB of high-speed hotspot data per month, and more.To start and grow a business, technology is essential. In fact, studies show nearly 90% of companies require their employees to access an average of five mobile business apps every day. But for that to happen, business owners go through many steps, from purchasing the best devices, onboarding and upgrading those devices, keeping them secure and up to date, and configuring apps and settings for each one. It’s A LOT for a small business to handle, but it doesn’t need to be.
That’s exactly why T-Mobile and Apple have teamed up — to make things simpler for all types of small businesses with one amazing plan: Ultimate+ for iPhone. This new plan is packed with a ton of great benefits for small businesses:
Each employee who adds a new line on the plan gets a new iPhone 13 — sleek and durable, with super-fast performance and long battery life.
Ultimate+ for iPhone is the ONLY wireless plan that enables customers to get the all-new Apple Business Essentials, which combines device management, 24/7 Apple support, and iCloud backup and storage — into a single, flexible subscription.
There’s unlimited talk, text, and premium smartphone data on America’s largest, fastest, and most reliable 5G network.
This plan includes a whopping 200GB of high-speed hotspot data per month, so small businesses can keep all their devices connected.
Customers get unlimited Wi-Fi on select flights from American, Delta, and Alaska Airlines — with more airlines, including United, launching later this year.
Finally, this plan helps keep business customers connected in over 210 countries and destinations across the world with unlimited text and data, including 5GB of free high-speed data per month.
All this for just $50 a month per line, with six or more lines, so small business customers can stop stressing about IT and focus on growing their business!
With Apple Business Essentials, it’s easy for businesses to set up and change employee plans as needed. If a device is lost or stolen, sensitive business data can be locked or wiped, while employee’s personal data is fully protected. Different apps and updates can go to specific employees, whether it is an employee’s personal device or one the business provides. And AppleCare+ for Business Essentials gives small businesses even more — including 24/7 phone support for all employees, and onsite repairs for iPhone in as little as four hours.
Since Apple Business Essentials launched in March, small businesses have saved countless hours, giving them more time to focus on their work. One T-Mobile customer that’s already using Apple Business Essentials is Vertical-One in El Paso, Texas.
“We’re a family-owned business and we always focus on our people. We want to give them the best products so they can do their best work, Apple products have enabled our growth throughout the years and T-Mobile’s 5G network makes a world of a difference, for example when we hotspot in the field from iPhone to MacBook. Apple Business Essentials has changed the game for us, with iCloud backups, and the ability to service quick repairs when we need them. It gives us freedom since we spend less time doing IT and more time developing our business.”
-Nick Dominguez Jr., chief operations officer at Vertical-One in El Paso, Texas.
For small business customers who may want to add Apple Business Essentials to just a few existing lines — T-Mobile is launching an a la carte option that allows customers to add Business Essentials to any T-Mobile business plan for $2.99 per month. And just to make sure ALL customers can experience the incredible value of Business Essentials, T-Mobile is offering it FREE a la carte through the end of 2022.
“Teaming up with Apple is just one more way we can support small businesses as they continue to be the source of countless jobs and innovations across America, We’re always looking for ways to provide more value to our customers and working with Apple gives us the opportunity to tackle a whole new pain point for small businesses — IT management.”
-Callie Field, President, T-Mobile Business Group.
Apple is committed to helping small businesses thrive, and we’re proud of the longstanding relationships we’ve built with this community,” said Susan Prescott, Apple’s vice president of Enterprise Product Marketing. “Apple Business Essentials helps small businesses manage the entire lifecycle of their Apple products — from device management and storage, to support and repairs — so they can focus on running and growing their business. The new Business Unlimited Ultimate+ for iPhone plan from T-Mobile will combine Business Essentials with blazing fast 5G service, a powerful new iPhone 13, and more — making IT even easier for small businesses, so they can do their best work.
With T-Mobile’s unmatched 5G network — America’s largest, fastest, and most reliable — small businesses virtually anywhere can take advantage of these benefits. T-Mobile 5G coverage goes beyond cities and extends to rural areas covering 310 million Americans and 1.8 million square miles — more square miles of 5G coverage than the other wireless companies combined.
To learn more about T-Mobile for Business options with Apple Business Essentials, visit www.t-mobile.com/applebusinessessentials.
Follow T-Mobile’s Official Twitter Newsroom @TMobileNews to stay up to date with the latest company news.
Ultimate+ for iPhone: Activate up to 4K UHD streaming on capable device, or video typically streams in SD. Up to 200GB high-speed tethering then unlimited on our network at max 3G speeds. $50 w/ 6 lines; plus taxes and fees. Included Phone: With 24 monthly bill credits when you add a qualifying line; plus tax. In-Flight Connection: on U.S.-based airlines; Wi-Fi Calling functionality, valid e911 address, & 1 prior Wi-Fi call w/ current SIM card req’d for messaging. Int’l Roaming in Simple Global Destinations: Calls from Simple Global countries, including over Wi-Fi, are $.25/min. (no charge for Wi-Fi calls to US, Mexico and Canada). Up to 5GB high-speed data, then unlimited at up to standard speeds approx. 256 Kbps. ABE Free for 2022: Via bill credit. Plus taxes and fees. After 12/31/22, credit will end and subscription will continue at regular price. Cancel anytime. 5G: Capable device required; coverage not available in some areas. Some uses may require certain plan or feature; see T-Mobile.com. Fastest: Based on median, overall combined 5G speeds according to analysis by Ookla® of Speedtest Intelligence® data 5G download speeds for Q1 2022. Ookla trademarks used under license and reprinted with permission. Most Reliable: According to an audit report conducted by independent third party umlaut containing crowdsourced data for user experience including task completion collected from November 2021 to May 2022. Full details at: www.umlaut.com/en/benchmarking/USA
T-Mobile US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Sprint. For more information please visit: https://www.t-mobile.com.