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Lendica and EBizCharge Partner to Supercharge SMB Payments and Financing

BOSTON, April 16, 2024 /PRNewswire/ — Lendica, an embedded AI lending, and EBizCharge, a top-rated provider of payment solutions, proudly announce a transformative collaboration aimed at introducing a groundbreaking embedded business credit solution for small and medium-sized enterprises in the U.S.

The new service, called the iBranch, is a cutting-edge financing solution that enables businesses to borrow money from Lendica without having to switch to a different platform. The innovative service represents a fusion of Lendica’s cutting-edge AI credit underwriting and EBizCharge’s all-in-one suite of payment solutions. This synergy facilitates a seamless and efficient financing process, allowing businesses to access fast and low-cost funding without the need to transition to a different platform.

As an industry leader, EBizCharge aims to seamlessly connect payments through its dynamic and comprehensive software. By integrating payments and financing through this new partnership, companies are empowered to grow and scale faster. This all-inclusive approach streamlines operations and enhances overall efficiency for businesses.

Leveraging the growing trend of embedded lending popularized by industry giants like Amazon, Shopify, and Square, the iBranch is set to become a key player in meeting the credit needs of small and mid-sized businesses. Embedded business loan origination is projected to experience a staggering 125% year-over-year growth, reaching an annual origination of $500 billion by 2030.

“We’re excited to partner with EBizCharge, an industry leader in payment solutions software. This is a mutually beneficial partnership, as we can use our AI credit underwriting to offer fast and low-cost financing solutions for businesses,” Jared Shulman, CEO and co-founder of Lendica, expresses his enthusiasm about the partnership. “Traditional small business credit is very expensive, with the average borrower paying 61% APR. Our embedded lending programs can dramatically lower rates to our customers we’re excited to bring them to market with a leader in the space.” 

Jerry Shu, the company’s CTO/Co-founder, adds that the power of AI-driven credit underwriting shines with rich, embedded datasets that banks and non-bank lenders struggle to process. This is especially useful for instant decision transactions such as B2B Buy Now Pay Later (BNPL) and other shorter term cash management tools.

“EBizCharge is the ultimate platform for payment solutions. With the iBranch, we’re adding financial power to our platform, allowing our customers to access credit without leaving the EBizCharge platform,” said Matt Rogers, VP of Strategic Alliances at EBizCharge.

Lendica enhances the financing experience for businesses, offering features such as instant decisions, fair pricing with low rates and fees, and no credit impact, providing flexibility even in cases of rejection. This strategic alliance is expected to significantly impact the payments sector by offering customers unique access to fast, affordable capital sources that support growth and can help businesses scale directly from the EBizCharge platform.

To learn more about Lendica and its transformative potential for your business, please visit www.golendica.com. Stay connected and follow us on LinkedIn.

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Lendica and CSG Forte Partnership Ushers in New Era of Embedded Business Lending

csg-forte-lendica

BOSTON, Jan. 30, 2024 /PRNewswire/ — Lendica, an embedded AI lending company, and CSG Forte, a CSG® (NASDAQ: CSGS) company and a leader in complete and customizable digital payments, announce a strategic partnership to deliver an embedded business credit solution to small and medium sized US companies.

Lendica and CSG Forte’s offering, called the iBranch, is an embedded financing service that enables SMBs to borrow money from their software vendors instead of traditional financial institutions.

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.

CSG Forte is partnering with Lendica, a leader in embedded lending solutions, to bring the solution to its Independent Software Vendor (ISV) partners and their merchants.

“Traditional small business credit is very expensive with the average borrower paying 61% APR.” shares 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.”

Jerry Shu, the company’s CTO/Co-founder, adds that the power of AI-driven credit underwriting shines with rich, embedded datasets that banks and non-bank lenders struggle to process.

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

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. 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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Lendica Releases Instant-Approval Lending Options from Salesforce and Shopify

BOSTON, Feb. 1, 2023 /PRNewswire/ — Lendica, a Boston-based financial software company, announces new integrations for its growing line of embedded finance products.

Background

Lendica is an embedded finance company that is building an automated lending machine. The company embeds instant-decision, B2B payment and lending products to promote faster funding and better rates. Lendica has added Shopify and Salesforce integrations to its growing list of digital headquarters, defined as ERP, POS, Marketplace or other applications where operators spend the majority of their time managing their business.

The Boston-based fintech has spent the last several years building software to automate all functions of the lending ecosystem. Lendica’s iBranch, short for integrated branch, is a full-service lender made accessible directly from a business’s digital headquarters. Lendica’s underwriting software, Lens, allows applicants to seamlessly share data – several times more than traditional lenders can process – and uses advanced modeling to quickly and more accurately predict default. The company is growing more than 10% month over month and adding new integrations in industries like chemicals, food and beverage, and restaurants.

Lendica’s Co-founder/CEO, Jared Shulman, CFA, spent time at a private credit hedge fund researching fintech and marketplace lenders. “Five years ago, we began to observe a sea change in borrower behavior.” shares Shulman, “Businesses had noticeably shifted their borrowing preferences away from banks and towards software businesses like Amazon and Toast. We founded Lendica to optimize the borrowing experience for small and medium-sized businesses from the comfort of their favorite operating software.”

Enter Salesforce and Shopify

Lendica’s integrations are now available from two of the largest business applications – Shopify and Salesforce. Customers can use Lendica’s PayLater and FundNow products to delay payments to their vendors or speed up collection from wholesale accounts with just a few clicks.

These B2B lending transactions can be critical for businesses looking to scale during economic slowdowns. This is especially the case for businesses with complex supply chains like manufacturers, wholesalers, and CPG brands – many of which experience top line growth but still need better access to capital. Ascent Solutions, an ERP built on Salesforce with several hundred startup and SMB customers, is an early embedded-finance adopter.

“We work with customers that have grown from fledgling startups to publicly traded companies,” explains James Gaines, CTO at Ascent Solutions. “In advance of rapid growth phases, good funding sources are not always readily available for many companies. Lendica’s Salesforce integration was easy to install and has a beautiful UI—we’re excited to add it to the Ascent Financial Package (AFP). Soon, business leaders will be able to leverage fairly-priced financing products directly from Ascent Solutions in Salesforce with the click of a button.”

Lendica’s proprietary underwriting engine is behind the seemingly simple, instant-decision loan offers. “Business datasets are chaotic,” states Jerry Shu, Lendica’s Co-founder/CTO. “The power of Lendica’s Lens is its ability to input many different datasources and fit them to a universal schema, or Token. This allows us to underwrite a business based on their real-time revenues and costs instead of bank balances and transactions. Lendica can be plugged into any operating software, whether Salesforce, Shopify or an independent ERP, and leverage the same Token.”

For businesses powered by Shopify, Lendica’s PayLater extension allows B2B wholesalers and distributors to offer seller terms at checkout. The easy to install tool adds flexible financing options right at the purchase point – often increasing order sizes and welcoming back repeat customers.

To learn more about Lendica’s Salesforce and Shopify integrations, please visit golendica.com. To learn more about Ascent Solutions, please visit ascenterp.com.

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Lendica Launches Instant Approval B2B Payment Plans with Altametrics

Boston, MA (PRUnderground) October 17th, 2022

Lendica, a Boston-based software company, announces the roll out of instant-approval payment plans with Altametrics.

Altametrics, a leading provider of Enterprise Labor & Inventory Management Software Solutions for restaurants, is teaming up with the tech company to help customers easily purchase its newest line of PlumPOS equipment. Cici’s Pizza, a Texas-based pizza franchise powered by Altametrics, was the first to announce the option to their customers and it has been well received – more than 30% of its franchisees have discovered the option to spread the $5-10k purchases across several months instead of upfront.

“We applaud Altametrics for their focus on ease of use, customer support, and quality underwriting,” says Jared Shulman, Lendica Co-founder/CEO. “The Altametrics’ team, with strong support from Cici’s, aided in a two-week installation of our embedded software package and provided helpful insights to promote instant, risk-based decisioning. This is a win for the franchise owners, who can enjoy as low as 5% APR financing, and small businesses everywhere who can benefit from our suite of reliable, instant funding tools in action.”

Embedded finance, as described in detail throughout Lendica’s website, brings a promise for better financial tools. Small business owners may be the ultimate beneficiary. “Small businesses have more accessible data than ever before,” explains Jerry Shu, Lendica’s Co-founder/CTO. “The trove of intel that lives in the small business’s digital headquarters – our term for SaaS providers like Point of Sale, Enterprise Resource Planning, or eCommerce platforms – can be used by lenders to quickly build an extensive risk profile, or Lendica ID, and power robust analysis for instant credit decisions. Better data means better prices for small businesses across all regions and industries.”

Lendica has been quickly growing in the embedded finance space with a list of major partners seeking to adopt its technology. “We believe the future of banking is pretty simple,” says Shulman. “Give people the tools to finance their decisions from the places that inspire them.”

About Lendica

Lendica is a truly embedded finance company focused on smart lending. We provide simple and transparent funding solutions for businesses at the point of decision. Businesses today rely on many technology vendors to make and execute decisions – process payment, make deliveries, purchase inventory, manage invoice, etc. Lendica creates integrated technology which enables tech vendors to provide their clients instant access to capital and help them finance these decisions and grow their business.

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Lendica Partners with Top ERP Software Companies to Launch FundNow and PayLater

BOSTON, Aug. 31, 2021 /PRNewswire/ — Lendica, a fintech startup providing embedded financing solutions, recently announced a partnership with industry leading supply chain management platforms Flourish Software and Apex Trading. 

These partnerships mark a new era in supply chain financing. Flourish and Apex customers will soon be able to instantly get funded for their open invoices and extend better payment options to customers – all done with a few clicks directly from their ERP dashboard.

“Smart operators know the importance of optimizing their cash flow throughout the supply chain,” says Jared Shulman, CEO of Lendica. “The challenge is the process is often confusing and drawn out. Our software provides transparent funding options from right where and when the customer needs it – right at their ‘point of decision.’ No more wasting time with dead-end financial institutions and more time focused on scaling the business.” 

“We are fortunate to partner with Flourish and Apex who demonstrate the importance of great user experience and customer success,” adds Lendica’s CTO Jerry Shu. “Both of these companies have a growing base of customers that can soon use Lendica’s software to get smarter about their cash flow.”

Operators can activate FundNow, a tool used to get paid instantly on outstanding invoices, or PayLater, a way for their customers to pay invoices over time, within a few minutes through Lendica’s iTab – an integrated application that sits on top of Flourish/Apex’s order dashboard. Once activated, operators can immediately select individual or bulk invoices to FundNow or PayLater. Lendica provides the capital and uses its secure payment platform to easily collect and distribute the funds.

“The whole process is seamless,” says Colton Griffin, CEO of Flourish Software. “We have seen customers at times struggle with funding their supply chain and operations. This partnership immediately addresses these issues. We are thrilled to integrate Lendica directly onto the Flourish platform to help our customers instantly access funding.”

“Our customers have been searching for better options for invoice financing,” adds John Manlove, Apex Trading CEO. “We were approached by a Lendica customer to help them with better customer payment options. We are delighted to very soon be able to provide these two innovative products across our entire customer base. The partnership is a win for all!” 

Customers interested in learning more about Lendica’s FundNow or PayLater options can visit Lendica’s website or ask their Flourish/Apex representative about early access.

About Lendica
Lendica is a truly embedded finance company focused on smart lending. We provide simple and transparent funding solutions for businesses at the point of decision. Businesses today rely on many technology vendors to make and execute decisions – process payment, make deliveries, purchase inventory, manage invoice, etc. Lendica creates integrated technology which enables tech vendors to provide their clients instant access to capital and help them finance these decisions and grow their business.