C2FO and Marcus by Goldman Sachs announce partnership to provide financing for small businesses
KANSAS CITY, Mo., May 18, 2021 / PRNewswire / – C2FO, the world’s largest working capital platform, today announced a new partnership with Marcus by Goldman Sachs that will provide unsecured financing to eligible businesses that use C2FO in United States. This partnership aims to provide small and medium-sized businesses with a new, fast and efficient way to access working capital.
Access to working capital is crucial for the growth of small and medium-sized businesses and for ensuring the continuity of the supply chain in multiple industries. The Marcus-C2FO partnership aims to reduce barriers to capital, which many companies have encountered in the wake of the COVID-19 pandemic.
Starting this summer, companies eligible on the C2FO platform will be invited to apply for funding. Companies can apply for financing amounts from $ 10,000 and up to $ 1 million, depending on the borrowing company’s needs, financial health and creditworthiness, and subject to credit approval by Goldman Sachs Bank United States. Our goal with this financing is to provide borrowers with low fixed interest rates, which will help provide access to low-cost liquidity for businesses of all sizes, an important continuing commitment for C2FO and Goldman Sachs.
By integrating Marcus’ digital lending technology and capabilities into C2FO’s platform, which is currently used by hundreds of thousands of businesses, the Marcus-C2FO partnership is designed for applicants to receive offer terms. loan in minutes and, in most cases, a final decision in two working days.
“Accessing affordable working capital remains a challenge for businesses and supply chains around the world,” said Alexander “Sandy” Kemper, Founder and CEO of C2FO. “Through this partnership, we are expanding access to low-cost and convenient capital, just as we have been striving to do since 2010 through our expedited payment programs. Giving small businesses multiple ways to access working capital will help them grow and prosper.
Unlike some traditional bank loans to businesses or secured lines of credit, loans under the Marcus-C2FO partnership will not require the holding of assets as collateral. This unsecured financing removes one of the prohibitive aspects of how working capital is generally accessed, which can exclude creditworthy businesses from consideration.
“We see this as a continuation of our strategy of delivering innovative products to consumers and small businesses through partnerships. By combining C2FO’s business knowledge with our digital platform and strong business management capabilities. risks, we can offer small businesses access to flexible working capital products, “said Abhinav Anand, Loan Manager at Marcus by Goldman Sachs. “Goldman Sachs has announced multiple initiatives to support small businesses in the United States and we at Marcus want to play our part.”
C2FO is the world’s largest working capital platform. We serve over a million businesses representing $ 10.5 trillion annual sales in more than 180 countries. Our online platform connects more than 110 billion dollars daily accounts payable and accounts receivable. Whether you need working capital or excess working capital, Name Your Rate ™ and the C2FO platform will respond to your demand in seconds. You can accelerate or extend AP or RA on demand, giving you, your customers and suppliers greater control over cash flow. You can also use AR funding and other data-driven funding options.
C2FO is working capital, at the service of everyone. Our mission is to create a future where every business in the world has the capital to grow. To learn more, visit C2FO.com.
About Marcus by Goldman Sachs
Marcus by Goldman Sachs® offers products and tools designed to help individuals and small businesses achieve financial well-being. Marcus offers a high yield online savings account; certificates of deposit in a variety of terms; No-Fee Fixed Rate Unsecured Personal Loans, Unsecured Small Business Financing; management of ETF portfolios; and free financial tools and trackers. All Marcus loans and savings products are provided by Goldman Sachs Bank United States, Member of the FDIC. The brokerage and investment advisory services offered by Marcus Invest are provided by Goldman Sachs & Co. LLC, which is an SEC registered broker and investment advisor and a member of FINRA / SIPC. Find our company on FINRA’s BrokerCheck. All Marcus products benefit from Goldman Sachs and over 150 years of experience in financial expertise, risk management and customer service. For more information, please visit www.marcus.com.
C2FO media relations
Stephanie Dressler / Daniel Diaz
Public Relations Dukas Linden
949-269-2535 / 805-625-0014
Goldman Sachs Media Relations