Partnership enables quick, seamless access to much needed funds for SpotOn customers
SpotOn, a leading supplier of small business software and payment solutions, announced today its partnership with jaris, a private-label embedded financial services company. The partnership will provide SpotOn clients with a streamlined application and faster processing for the second round of federal funding, as well as ongoing access to l**** through SpotOn Capital.
“Small businesses and local restaurants are the heartbeat of our communities, and we are committed to giving them the tools and resources they need to compete and win, particularly during these uncertain times”
Supporting Access to PPP Funds
“This round of funding is critical for small businesses, as many were unable to receive financial support last year or are experiencing new or prolonged challenges as a result of the pandemic,” said Zach Hyman, co-CEO of SpotOn. “From the moment the bill was signed, we have been collaborating with jaris to streamline the process and help put our clients at the front of the line for these funds.”
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jaris has partnered with Blue Ridge Bank, an approved SBA lender, to give SpotOn clients access to new PPP funds, including $15 billion specifically earmarked for smaller lenders. The partnership will also simplify the application process for SpotOn clients by pre-populating their data in the PPP loan application; accelerate application approvals; and support loan forgiveness applications.
“jaris is committed to simplifying and facilitating creative financial solutions geared towards small businesses that need it most,” said Chris Aristides, CEO and Founder of jaris. “Together with SpotOn and Blue Ridge Bank, we are not only able to provide fast, easy access during this round of PPP funding, but also to provide ongoing access to capital for small businesses.”
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Introducing SpotOn Capital
SpotOn will also partner with jaris to create SpotOn Capital, which will provide quick capital advances to small businesses, many of which cannot access capital from large financial institutions. SpotOn Capital offers customized l**** to SpotOn clients to invest in growth or solve short-term cash-flow needs. The l**** are offered through the SpotOn customer dashboard and made available as soon as the next business day; are repaid automatically as a fixed percentage of daily sales; and come with one fixed fee, n********** charges or hidden fees.
“Small businesses and local restaurants are the heartbeat of our communities, and we are committed to giving them the tools and resources they need to compete and win, particularly during these uncertain times,” Hyman continued. “Whether they need to purchase equipment or inventory or invest in new safety protocols, a SpotOn Capital loan is a swift, simple solution for our clients and another way we support small business owners.”
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