Propell is a financial platform that offers flexible business lending and a variety of payment solutions, enabling SMEs to access cash between $10K and $250K without early repayment penalties. By providing real-time financial insights and a comprehensive suite of payment options, Propell addresses the challenges of cash flow management and slow customer payments for small businesses.
Funding
Funding not disclosed
Founders
Product
Problem
Small and medium-sized enterprises (SMEs) often face challenges in managing their cash flow due to slow customer payments and difficulty accessing flexible financing options. Traditional lending processes can be cumbersome and may not adequately address the immediate financial needs of growing businesses.
Solution
Propell is a financial platform that provides SMEs with access to flexible business lending and a suite of payment solutions designed to improve cash flow management. Businesses can access a line of credit between $10,000 and $250,000 with terms up to 24 months, drawing funds as needed without early repayment penalties or ongoing fees until the credit is utilized. The platform also offers tools to manage customer payments, including card payments and other flexible payment options, helping businesses avoid delays and potential loss of customers due to limited payment methods. Propell analyzes a business's financial information to provide insights and a health check, enabling informed decisions about financial products and overall business health.
Target Audience
The primary target audience includes small to medium-sized enterprises seeking flexible financing options and improved cash flow management solutions.
Features
- Flexible business line of credit with limits up to $250,000
- No early repayment penalties on loan balances
- Customer payment solutions supporting card payments and other flexible options
- Business Pulse health check providing insights into financial performance
- Streamlined online application process
- Financial statement analysis for deeper understanding of business capacity
- Ability to refinance higher-risk lenders