Invoice2go Partners with Square Capital to Deliver Mobile Access to Business Loans, Helping Small Business Owners Grow

REDWOOD CITY, Calif., April 19, 2019 /PRNewswire/ -- Invoice2go and Square Capital today announced a partnership that gives Invoice2go customers in the United States a fast, seamless way to access the funding they need to grow their business – from right inside their Invoice2go mobile app. This partnership is the first time Square Capital, the small business loan program created by financial and technology company Square, has had a partner incorporate embedded access to business loans through their mobile app, making the process of applying simple and easily accessible.

"Access to capital can be the largest obstacle standing in the way of growth for many small businesses. In fact, according to a Federal Reserve survey, a staggering 70 percent of small businesses that apply for traditional loans do not receive the funding they want¹," said Greg Waldorf, CEO of Invoice2go. "Partnering with Square Capital means we can help more one and two person businesses access the funding they need to buy equipment, invest in marketing, hire staff, or invest in anything else their business needs to grow."

Loan offers can range from as little as $500 to as much as $100,000. With more than half of Invoice2go's customers in the building and home services industries, the Square Capital partnership stands to improve access to financing especially for those delivering large home improvement projects. Now, small businesses such as contractors can apply for funding to cover up-front expenses or anything else their business needs, and get their jobs started faster.

In addition, small business owners can expect an experience that's clear, transparent, and straightforward — there are no long forms to fill out or long waiting periods. Businesses can begin the application right from the Invoice2go app, and upon approval, receive the funds in their accounts as early as the next business day. Repayment is convenient and automatic.

"Our business has seen rapid growth in recent years, and the projects we take on keep getting bigger. But it takes money to grow," said Gabe Ramirez, president of janitorial services company American Cleaning Services. "The ability to access capital quickly is a tremendous benefit to my business. Having previously taken out traditional lines of credit, I couldn't believe how quickly I had the funds through Square Capital in my account once I applied. It's been by far the simplest and smoothest transaction I've ever dealt with."

"By partnering with Invoice2go, via our new APIs, we can now bring the end-to-end loan application experience directly inside their mobile app," said Nicolas Chinot, product manager at Square Capital. "This integration enables us to meet small businesses right on the phone or tablet where they manage their business, and goes even further in taking the 'work' out of applying for funding."

The addition of access to Square Capital is just the latest in recently added features from Invoice2go designed to help small businesses win jobs, track payments, and offer their clients the ability to pay any way. Now with the addition of access to funding from within the Invoice2go mobile app, Invoice2go can help its customers invest in their business and grow.

About Invoice2go

Invoice2go is the top-selling invoicing app, giving small businesses control over their time and business. Bringing together all the tools needed to get the job done, Invoice2go helps people win jobs, track payments, and offer their clients the ability to pay any way. The company was started by a small business owner who came from a family of tradespeople, and wanted to help them streamline their invoicing. Today, Invoice2go's popularity has spread around the globe, with more than 250,000 small business owners in 160+ countries using the app to send $24 billion in invoices every year.

To create a free account, go to https://invoice.2go.com, or download the app from Google Play, or the Apple App Store.

Square Capital Legal Disclaimers

Square, the Square logo, Square Capital, and others are trademarks of Square, Inc. and/or Square Capital, LLC. Other trademarks and brands are the property of their respective owners. Square Capital, LLC is a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY.

Statements in this press release, including, but not limited to, statements regarding the expected integration between Square and Invoice2go products and the expected benefits of the partnership to users, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of uncertainties and risks, including those described in Square's latest Quarterly Report on Form 10-Q or Form 10-K, which is on file with the SEC. All forward-looking statements are based on information available as of the date of this press release and Square and Invoice2go assume no obligation to update any of these statements in the event facts or circumstances subsequently change.

All loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC, located in Salt Lake City, UT. The individual authorized to act on behalf of the business must be a U.S. citizen or permanent resident and at least 18 years old. Valid U.S. bank account and Social Security number or Individual Taxpayer Identification Number are required. Actual fee depends upon financial profile and other eligibility factors. Full loan repayment is required within 6 months from the origination date of the loan. Loan eligibility is not guaranteed. All loans are subject to credit approval.

¹ 2017 Small Business Credit Survey. Federal Reserve Banks

Contact:

Aimee Grove
[email protected]
415-706-1906

Nina Lacy
[email protected]

SOURCE Invoice2go

Related Links

https://invoice.2go.com