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Thryv Partners with Fora Financial to Offer Capital That Helps Small Businesses Grow
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Thryv Holdings, Inc. (NASDAQ:THRY) has partnered with Fora Financial to provide small businesses with rapid access to capital. The partnership enables business owners to apply for loans ranging from $5,000 to $750,000 through Thryv’s marketplace, with approvals in under 24 hours and funds available in 72 hours. This initiative aims to support small businesses in overcoming financial challenges in the current economic landscape, providing flexible terms and promoting business growth.
Positive
Partnership with Fora Financial enhances Thryv's service offerings for small businesses.
Loan amounts range from $5,000 to $750,000 with competitive terms.
Quick financing approval process (less than 24 hours) and capital availability (within 72 hours) improve liquidity for clients.
Negative
None.
Fora Financial approves cash flow solutions within 24 hours, with capital available within 72 hours
DALLAS--(BUSINESS WIRE)--
Thryv Holdings, Inc. (NASDAQ:THRY), the small business platform for growing small- to medium-sized businesses, announced a partnership with Fora Financial to offer small businesses access to the capital they need to grow.
Fora Financial will now be offered through Thryv’s growing marketplace, allowing business owners to apply for lending in minutes. Fora Financial offers terms up to 15 months, flexible payments, early pay-off discounts, and no restrictions on use of funds.
The partnership offers a range of financing amounts from $5,000 to $750,000 with no collateral required. Small Business Administration (SBA) 7(a) loans, the most common in SBA’s portfolio, require collateral if the loan amount is greater than $25,000. The approval process for Fora Financial financing occurs in less than 24 hours, and once a financing is approved and terms have been accepted, capital is available in 72 hours.
“We have always been committed to helping small businesses solve a variety of needs, and in the current economic climate, helping them gain access to capital is a priority,” said Ryan Cantor, chief product officer at Thryv. “Whether it’s adding a truck to their fleet or a game-changing piece of equipment, small businesses have evolving needs and Thryv helps solve them.”
“At Fora Financial, we are dedicated to providing small businesses with the fast, uncomplicated funding solution they require to succeed,” says Fora Financial president Andrew Gutman. “As the economic environment continues to change, our consultative approach to understanding small business’ needs will offer the Thryv community the working capital required to grow and thrive.”
Thryv clients have seen significant advantages to joining the platform, including a 25% rise in the number of average customers, 61% increase in number of appointments booked, and 86% growth in annual revenue through bookings and payments. Learn more about the platform, including free, unlimited support 24/7 from small business specialists at thryv.com.
About Thryv Holdings, Inc.
Thryv Holdings, Inc. (NASDAQ:THRY) is a global software and marketing services company that empowers small- to medium-sized businesses (SMBs) to grow and modernize their operations so they can compete and win in today’s economy. Over 46,000 businesses use our award-winning SaaS platform, Thryv®, to manage their end-to-end operations, which has helped businesses across the U.S. and overseas grow their bottom line. Thryv also manages digital and print presence for over 400,000 businesses, connecting these SMBs to local consumers via proprietary local search portals and local directories. For more information about Thryv Holdings, Inc., visit thryv.com.
About Fora Financial
Fora Financial is a leading business financing lender that has provided over $2 billion to more than 25,000 business owners nationwide. Fora Financial offers flexible financing solutions to small and medium sized businesses in need of additional working capital to sustain or grow their enterprise. The company places a high value on transparency and provides businesses with fast, personalized small business loans and revenue advances, leveraging its state-of-the-art proprietary technology, industry-leading sales capabilities and dedicated customer service. Founded in June 2008, Fora Financial employs over 200 people at its New York City, Miami and California locations.
