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4 FinTechs empowering MSMEs to avail of instant loans in USA

By Delisha Fernandes

June 27, 2023

  • American Express
  • B2B Financing
  • b2b lending

lendingThe USA is home to numerous FinTech companies playing a significant role in empowering Micro, Small, and Medium-Sized Enterprises (MSMEs) for financial inclusion and expansion. FinTechs have played a key role in enabling MSMEs to get instant financing in the United States, which has fueled their growth and expansion.

World MSMEs Day, celebrated on June 27th each year, acknowledges the significant contributions made by MSMEs to the global economy. However, MSMEs frequently encounter challenges obtaining traditional funding, limiting their potential for development. This is where FinTech companies have stepped in to bridge the gap and offer the required financial assistance.

Here are 4 FinTechs empowering MSMEs to avail of instant loans in the USA:

Bluevine was founded in 2013 as a financial technology company that builds better banking solutions for small businesses and provides the attention and service they deserve. By combining industry-leading technology and security with dependable customer support, it gives business owners the funding and services that they need to succeed.

Credibly aims to be the best small business lender. To make that happen, they leverage cutting-edge data science, technology, partner relations, and customer support to providing business owners with faster access to the right-sized capital solutions. From working capital loans to merchant cash advances, it offers financing products that can accommodate nearly any stage of business development or credit profile.

Kabbage from American Express has innovated a data and technology platform to help American Express move “Beyond the Card” and provide US small businesses digital cash flow solutions, including online business checking accounts with 1.3% APY on balances up to $500,000, online payments to get paid faster, business analytics to forecast and track cash flow 24/7, and flexible lines of credit up to $250,000. Kabbage uses real-time data and automation to provide an integrated suite of financial tools empowering small businesses to spend less time on their books and more time on building thriving businesses.

Lendio is an online lending marketplace that aims to make capital accessible to all small business owners in the US. Since 2011, Lendio has facilitated more than 300,000 small business loans and other financing options totalling over $12 billion. Lendio’s mission is to be the best place for small businesses to find financing options that are right for their needs, including working capital lines of credit, invoice factoring and equipment purchase financing. The company provides free access to various tools and resources to help small business owners manage their cash flow better and improve their credit rating.

Also read: Global Lending Vendors & Landscape Report Q2 2024

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