North Wilmington-based Swift Capital announced a first-of-its-kind working capital solution that eliminates all paperwork, including monthly bank account and/or credit card processing statements.
Funding is approved online with decisions granted in less than one minute. Funds are then transferred to a business account at applicant’s current bank in under an hour, according to a release from the company.
“This new product will revolutionize the small business loan and business cash advance market,” said Ed Harycki, founder and CEO of Swift Capital. “With instant online approval and zero paperwork, small business owners will find an elegantly simple and fast solution to their cash flow needs.”
The company says it uses many data aggregation sources and proprietary data scoring capabilities, Swift can qualify and approve a potential borrower in less than one minute.
The product is currently available ‘by invitation-only,” but will be available to businesses later this year.
