Divvy announced Divvy Capital, a real-time funding solution for businesses in need of fast, flexible capital. Through automatic pre-approval, business leaders can bypass the time-consuming application process and gain instant access to the funds they need to grow their business.
"We're launching Divvy Capital to give businesses access to the funds they need, when they need them," said Tyler Hogge, Vice President of Product at Divvy. "For example, Flex Plans for Bill Pay gives businesses flexibility to pay their vendors on their timeline. The response from our users has been overwhelming—they love how transparent and simple we've made it."
Eligible Divvy users are pre-approved for Divvy Capital, giving them access to real-time financing and increased spending power. Divvy Capital, combined with the rest of the Divvy suite, gives users a single platform to manage cash flow, track expenses, pay invoices and budget for their business.
Divvy Capital includes:
- Flex Plans for Bill Pay — gives businesses the flexibility to send immediate Divvy-funded payments to vendors, then repay Divvy over one to three months.
- Flex Plans for Card — allows businesses to float a portion of their Divvy card balance over a one, two, or three month period.
- Short Term Loans — provides eligible businesses with pre-approved capital to fuel business growth, over a six to twelve month period.
"We have been using Flex Plans for the past several months and love how simple it is for us to get some additional flexibility to run our business," said Michael Collard, corporate controller at Redstone Residential. "Being able to easily get an extra 30 to 90 days to pay Divvy back has made all the difference."
Divvy proactively determines and communicates client qualification for Divvy Capital by analyzing many data points collected within the Divvy platform, including payment history, revenue growth, and other business signals.
For more information about Divvy, visit getdivvy.com.