Lightspeed Capital Available for US Retail Customers
Lightspeed reveals Lightspeed Capital in partnership with Stripe.
Through financing offers, Lightspeed Capital will help U.S.-based merchants with overall business growth, buy inventory, invest in marketing or manage cash flows. It is available for retailers using Lightspeed Payments in the U.S. and provides financing of up to $50,000 USD per retail location.
Featured benefits of the offering include a fast and efficient approval process, with no lengthy application or collateral obligations and approved funds typically deposited the next day; automated and flexible repayments, where a percentage of daily sales will automatically be repaid against the borrowed amounts; accessible reporting, so retailers can review how much has been repaid in real time; and data-driven eligibility, where approval is based on a retailer's history with Lightspeed payments and draws on data from Stripe's global business network.
As part of Lightspeed’s continued effort to support merchants during this time, the company is also hosting regular webinars to equip SMBs with essential information on financial planning, social media sales integrations, how to maximize retail revenue and more.
“Lightspeed retailers have always outperformed the broader industry and this has been more apparent than ever during COVID-19 as these innovative merchants have leveraged omnichannel solutions to meet customer demand,” said Dax Dasilva, founder and CEO of Lightspeed. “The introduction of Lightspeed Capital is one more tool to help them digitally transform their business and continue to outpace the industry.”