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Lendica & CSG Forte to offer embedded lending solution for SMBs

By Delisha Fernandes

February 01, 2024

  • Altametrics
  • Cici
  • CSG Forte

Lendica, Altametrics, Instant-approval Payment Plans, Cici, PlumPOS Equipment, Underwriting, Financial Tools, Lendica ID, Embedded Finance, Boston, USA

Lendica, an embedded AI lending company and CSG Forte have formed a strategic partnership to deliver an embedded business credit solution to small and medium-sized (SMBs) US companies.

The collaboration introduces an embedded business credit solution for these vendors, called the iBranch, that enables SMBs to borrow money from their software vendors instead of traditional financial institutions.

“Traditional small business credit is very expensive with the average borrower paying 61% APR.” said Jared Shulman, CFA, Lendica’s CEO/Co-founder. “Our embedded lending programs, when implemented effectively, dramatically lowers rates to our customers by leveraging private datasets for more effective underwriting and better sales channels to cut customer acquisition costs.”

Embedded lending, popularized by software companies such as Amazon, Shopify, and Square, has become a growing source of credit made available to small businesses. It is estimated that embedded business loan origination is growing at roughly 125% year over year and will hit an annual $500bn origination by 2030.

Through this partnership, CSG Forte’s diverse range of ISV partners and their merchants, including those in industries like field services and property management, can benefit from an innovative, embedded lending experience.

The benefits of embedding lending extend beyond happier and healthier borrowers. ISVs also benefit, earning a portion of the fee revenue generated from their embedded lending program and experience enhanced customer loyalty.

For example, property management merchants may leverage this easy-to-use solution to access capital for building repairs and needed supplies or to engage in professional services to promote their business. The easy access to affordable capital empowers merchants and elevates their potential for future growth.

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