Veem latest product offerings help small- and medium-sized business owners with cash flow gaps
Veem, a leading provider of online payment solutions, has released two new Veem Capital products to help small and medium-sized businesses ramp spending for their operations. Veem has released Pay Later and Pay with Card products that are designed to provide business owners the opportunity to allow greater control of cash flow and more financial freedom in order to take the proper steps to ignite their business growth.
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“SMBs struggle to stay open not because of poor sales or profitability. It’s because of temporary lack of cash flow, This is why we felt it was important to launch these services through Veem Capital,” said Veem Chief Growth Officer Jeff Revoy. “This will provide cash flow support for our customers in the form of paying with credit cards and access to capital with a more likely approval process than a bank. While revenue may not be available for SMBs, Veem Capital allows businesses to stay afloat, avoid bankruptcy and cover operational costs such as payroll, electricity, and rent.”
Most SMBs face a number of obstacles on a daily basis. From having little to no credit history to temporary cash falls, business owners will run out of money in a matter of days. Because Veem has access to the company’s payment history and business transactions, small businesses, all cash advances through Pay Later are repaid in equal increments over three months. Pay Later is flexible and cash can be used for any business purposes.
“Business might be rebounding, but what owners aren’t aware of is they still need help managing cash flow in order to keep their doors open,” noted Revoy. “Veem is helping SMBs get out of this payment situation with the assistance of Veem Capital. Instead of looking at credit scores, Veem looks at the whole picture.”