Jaris Expands $ 350 Million Loan Offerings to Small and Medium Businesses Through Partnership with SpotOn Capital

0

SpotOn Capital loan renewal rate of 80% shows that SMEs are hungry for non-traditional access to capital

Posted: October 19, 2021 at 5:00 a.m. CDT|Update: 4 hours ago

BURLINGAME, California, October 19, 2021 / PRNewswire / – jaris, the leading integrated private label, full-stack lending solution in the United States, today announced that it spans more than $ 350 million in small business offerings through a partnership with SpotOn, a leader in software and payment solutions. Earlier this year, jaris partnered with SpotOn to launch SpotOn Capital, providing thousands of small businesses with access to flexible and profitable capital.

Small businesses represent 99.9% of all US businesses and about 44% of the total private sector output of the economy. Yet more than half of small businesses say their credit needs are unmet. Additionally, traditional access to capital for small businesses remains an outdated and inefficient system with complex barriers and regulations.

As an alternative to traditional lending options, SpotOn Capital has given small business owners quick and easy access to loans with a fixed fee and a method of repaying as you earn. The program has experienced significant growth in volume and continued momentum since its launch in January 2021. The monthly loan origination has increased twenty-fold since its inception and continues to grow month by month. The program has proven to be incredibly effective for SpotOn customers who have a loan renewal rate of over 80% as they look to continue growing their business.

jaris is proud to partner with SpotOn to simplify the lending process and bring more capital to its small business clients, ”said Chris Aristide, founder and CEO of jaris. Small businesses have suffered much more during the pandemic. Our ability to quickly integrate with SpotOn in just a few months has meant SpotOnSmall business clients were able to access capital quickly when they needed it most. We look forward to continuing our partnership with SpotOn to facilitate creative financial solutions for small businesses. “

jarisThe CaaS platform provides SpotOn with a simple solution to leverage a complete infrastructure and deliver branded financial services to its clients through SpotOn Capital. By the jarisDepth of credit structures, SpotOn Capital can reach many traders and provide funds as early as the next business day to invest in growth or solve short-term cash flow needs.

By partnering with jaris, wehave been able to provide our clients with quick, easy and seamless access to capital that traditional financial institutions can simplyt offer, ”said RJ Horsley, COO at SpotOn. SpotOn Capital enables our clients to resolve short-term cash flow gaps, grow their business and invest to meet changing client needs. For some clients, this capital has enabled them to hire more staff, increase inventory, purchase new equipment and launch marketing campaigns. “

jaris continues to work closely with SpotOn as an extension of their team to develop personalized loan products to help business owners adjust through tough times. For example, after analyzing SpotOns customers to assess their capital needs, jaris implemented a new short-term lending solution to extend quick access to capital to even more customers when they need it most.

About jaris

jaris is the leading private label integrated financial services solution for payment software providers targeting small businesses. jaris has removed the complexity of accessing capital with a complete solution, paving the way for partners to get to market faster with competitive and high added value solutions.

With a commitment to continuous innovation, jaris enables payment software vendors to deliver private label financial services to small businesses, helping to increase engagement, retention and brand loyalty. For more information, visit jaris.io.

About SpotOn
SpotOn is one of the fastest growing software and payment companies with comprehensive cloud-based technology for small, midsize, and businesses. Known for rapid innovation and cutting-edge customer service, SpotOn offers integrated solutions for commerce, digital marketing, growth and finance, operations and workforce management. For more information, visit www.spoton.com.

Press inquiries:
Tribe Builder Media
Kristen shea
929-367-8993
[email protected]

SpotOn
Megan Palmer
410-262-7349
[email protected]

Show original content:

SOURCE jaris

The above press release has been provided courtesy of PRNewswire. The views, opinions and statements contained in the press release are not endorsed by Gray Media Group and do not necessarily state or reflect those of Gray Media Group, Inc.


Source link

Leave A Reply

Your email address will not be published.