SAN DIEGO, May 18, 2016 /PRNewswire/ -- Dealstruck was named the winner of a Silver Stevie® Award in the Innovation of the Year -- Business Products Industries category in the 14th Annual American Business Awards. More than 3,400 nominations were submitted for consideration across a wide range of categories.
Dealstruck's mission is to provide small business owners with access to capital that is unique, appropriate and affordable. And in doing so, Dealstruck has developed two innovative financing products, a welcome development in an industry that has seen little product innovation in the last 50 years.
The innovation that garnered this year's prestigious award is actually two small business financing products. The company's accounts receivable credit line and inventory credit line give small businesses the opportunity to access cash when and how they need it. "We quickly realized that the vast majority of our customers needed a revolving line to help them with their ongoing operations like payroll or inventory, for example. We wanted to provide a unique, flexible, and affordable option for them and that's exactly what we have done with our accounts receivable and inventory credit lines, " proudly states Dealstruck CEO, Ethan Senturia. These products are a huge boon for many SMBs since a large number are unable to qualify for traditional bank or SBA financing due to short time in business, limited monthly revenue, or less than stellar credit scores. As one of the Stevie Awards' 250 judges noted, "(This is a) great product--I can see how this would be a great advantage for young small businesses that need to manage cash flow."
"The judges were extremely impressed with the quality of entries we received this year. The competition was intense and every organization that has won should be proud," said Michael Gallagher, president and founder of the Stevie Awards.
Details about The American Business Awards and the list of 2016 Stevie winners are available at www.StevieAwards.com/ABA.
Dealstruck is an online direct lender and the first to offer multiple products -- including flexible term loans and multiple line of credit solutions -- to small- and medium-sized business (SMB) owners. With a mission to provide growing SMBs with access to capital that is unique, appropriate and affordable with honesty and transparency, Dealstruck is committed to placing SMBs on a credible path to bankability. For more information, please visit https://www.dealstruck.com/.
About the Stevie Awards
Stevie Awards are conferred in seven programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 10,000 entries each year from organizations in more than 60 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
This content was issued through the press release distribution service at Newswire.com. For more info visit: http://www.newswire.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/online-lender-dealstruck-honored-in-2016-american-business-awards-300271244.html