Elavon and Liberis have launched Quick Capital, a new funding solution designed for small businesses across the United States. This fresh collaboration seeks to streamline the access to revenue-based financing through Elavon’s merchant portal, reinforced by Liberis’ embedded finance platform. This initiative targets small businesses in the healthcare, retail, services, and restaurant sectors, aiming to provide critical financial support when needed. Integrated as a part of Elavon’s payment processing services, Quick Capital helps maintain seamless cash flow management with minimal paperwork. The partnership underscores the ongoing evolution in the finance industry to provide fast and efficient services tailored to small business needs.
What Does Quick Capital Offer?
Quick Capital enables eligible businesses to secure revenue-based funding through an optimized application process. Leveraging Elavon’s merchant data, the program allows for swift disbursement of funds, addressing various business needs such as inventory restocking, tax payments, marketing initiatives, and even expansion plans. This financing option is seamlessly integrated within the merchant portal, providing ease of access and reducing administrative burdens on businesses seeking capital. By crafting a flexible and tailored financing experience, Quick Capital positions itself as a viable solution for myriad financial challenges faced by small enterprises.
Why Target Small Businesses Now?
Small businesses have increasingly sought accessible financing solutions amid an economically challenging climate. The Quick Capital solution fulfills that demand by eliminating complex procedures and focusing on rapid fund availability. Current industry trends suggest high willingness among small businesses to switch to payment providers that offer embedded lending, highlighting the potential uptake for the new Quick Capital solution. A significant percentage of small and micro businesses already express a keen interest in such offerings, indicating a favorable environment for this product launch.
Liberis and Elavon are not new to partnerships aiming to enhance financial access. Liberis previously collaborated with eBay to improve the working capital options available to eBay sellers and with Sezzle for a small business funding program. Through these previous ventures, the focus has been on leveraging digital platforms for efficient financing solutions, a strategy continued with Quick Capital. Such collaborations have consistently aimed to remove financial access barriers, ensuring businesses can meet their growth objectives without undue delay.
“Quick Capital allows our merchants to access capital through a simple, streamlined process and solutions that work with their cash flow,” stated Jamie Walker, Elavon’s CEO. Rob Fairfield of Liberis also remarked, “This partnership with Elavon is designed to remove barriers to business funding.” These statements emphasize the partners’ commitment to enhancing financial inclusion and supporting small business growth.
Embedded finance platforms like the one employed in Quick Capital are fostering a change in how financial services are delivered to small businesses, creating an environment of increased efficiency and accessibility. According to a recent PYMNTS Intelligence report, a growing percentage of businesses indicate a readiness to switch to providers offering embedded lending, further validating Quick Capital’s market readiness.
This strategic initiative between Elavon and Liberis illustrates an adaptive response to emerging market trends, offering a plan that suits the dynamic financing needs of small enterprises. The partnership’s potential expansion plans based on merchant feedback highlight a commitment to evolving and scaling the solution in response to user experiences and demands.
