We’re thrilled to announce Fundbox Fuse, a new integration that enables our partners to become platforms by offering access to Fundbox to their small business customers within their workflows.
The average profit margin for a small business in the U.S. is about 7.5%, and most small businesses operate with only 27 days of cash to fund operations. With limited reserves on hand, many small businesses can’t invest in growing their business, even when exciting new opportunities arise. Fuse allows Fundbox partners to help their customers gain access to capital inside the partner’s workflow—in places where the customer is most open to thinking about funding for their business.
Fuse allows Fundbox partners to solve the number one need for small businesses: cash flow. 84% of small businesses report that they can’t get as much funding as they seek, and 23% say that budget constraints were their top concern going into 2018. But small businesses don’t always know where to go in search of capital for their business. With Fuse, partners can place a button anywhere inside their product’s workflows—including places where the customer is most receptive to getting funding for their business.
Fuse is a grey labeled, light integration that allows partners to meet the capital needs of their clients from within their workflow. Fuse appears as a button. When the business owner clicks on the “Get Business Credit” button, a panel opens from the right side of their screen. They can learn about Fundbox and apply for funding inside this panel without leaving their workflow. When they’re done, the panel closes and they go right back to working inside the partner’s solution again. If approved, the customer can draw funds by clicking on the same button they used to apply, so they’ll always know where to go for credit. They’ll also have another great reason to return to the partner’s solution.
Fuse offers the intuitive, simple experience that has become Fundbox’s hallmark. Small business customers apply by connecting either their business bank account or their accounting software. In as little as a few hours, they can receive a credit decision. If approved, they can draw funds right away. Funds transfer as soon as the next business day. Business owners can choose to repay over 12 or 24 weeks, and can repay early and Fundbox will waive all of the remaining fees.
More coverage of Fundbox Fuse:
- Fintech lender Fundbox shows how open banking can be done (American Banker)
- Fundbox Launches Fuse, A Funding Express Lane Designed to Increase SaaS ‘Stickiness’ (deBanked)
- Fundbox Launches Fuse To Enable Seamless Credit Service Access From Within Any SaaS Workflow (Business Insider)
- Fundbox Launches ‘Fuse’ for Seamless Credit Access Within SaaS Workflows (AlternativeLending.io)