Lendr, a provider of flexible working capital to small- and medium-sized businesses, specializing in business finance and factoring solutions, announced on Monday it has launched a new business debit card product to service its growing client base.
Lendr reported that the ability to fund business owners in real-time through an instant access virtual Mastercard followed up with a traditional plastic card utilizing the latest in EMV chip security, will further enhance its brand and solidify Lendr’s position as a premier financial services firm. Peter Finn, Vice President, Sales and Marketing of Lendr, stated:
“The debit card program promises to expand client access to funds, increase loyalty and overall satisfaction. We are proud of the results we are seeing as a direct result of the capital investments we have made over the past two years.”
Finn then added:
“Through the growth of our working capital division, launch of our factoring product, delivery of our proprietary underwriting engine, and now this debit card, we continue to diversify and expand.”
The launch of Lendr’s debit card program comes just a couple weeks after the company announced the closing of its $25 million senior credit facility. MidCap Financial Trust served as the Administrative Agent for the transaction. Founded in 2011, Lendr describes itself as a company that is “revolutionizing” the way businesses acquire capital. The company reported that its team has more than 75 years of collective experience in the financial service industry and is committed in helping small to midsize businesses