Xplor Technologies – a global company integrating smart software, seamless payments and commerce advancing technologies – has recently started Xplor Capital, a streamlined fintech product designed to increase access to capital for small businesses.
Dry cleaners using the company’s embedded payments capabilities will experience increased funding eligibility with underwriting based on sales volume, instead of credit. Offers are pre-approved, so applicants will see their funding proposal immediately – enabling quick and easy access to capital.
Xplor Capital is powered by Parafin – a venture capital-based “capital as a service” platform designed to remove the lengthy submission forms and extended waiting periods. The offers are stated to range from $500 to $10 million, with repayment based on a fixed capital fee with no late fees or interest.
The announcement is very up-to-date as a recent Goldman Sachs study revealed 71% of small-business owners reported inflationary pressures increasing over the past three months, and 77% stating they are concerned about their ability to access business capital.
