When it comes to accessing finance, it’s obvious that traditional lenders don’t have small businesses in mind. Applications for bank loans are onerous and time-consuming, requiring mountains of paperwork and personal assets as collateral, while the interest on credit card repayments can quickly get out of hand. Hummpro is different. The application process is designed for busy entrepreneurs who are always doing three things at once, and repayments are flexible and interest free. Here are five key ways hummpro is giving old-school finance options an upgrade.
1. The application takes minutes, not days or weeks
It only takes a few minutes to apply for up to $30,000 in the hummpro app, and there’s no need to provide a filing cabinet full of documents. Simply share your business details and a bank statement. Once approved, you can start paying with hummpro right away, so you don’t have to worry about missing out on growth opportunities or falling into negative cash flow while your application is being processed.
2. It’s low risk
Unlike traditional lenders that require real estate or other personal assets as collateral, hummpro finance doesn’t come with any strings attached. You just need to provide a funding source such as a bank account or payment card for hummpro to automatically debit your repayments and fees when due. If you fall behind on a repayment, all you’ll have to pay is a $20 late fee.
3. You can pay with hummpro anywhere
There’s no telling what you’ll want to buy with hummpro – it could be lunch with a client, or a significant stock order for your store – so having support for different types of transactions is crucial. With hummpro, you can ‘tap and go’ in-store, use Apple Pay to shop online and also pay an invoice.
4. Repayments are flexible and interest free
Between a slump in sales and disruptions in the global supply chain, small businesses often struggle with cash flow, which is why they need flexible repayment options. Hummpro offers several repayment options that allow you to defer repayments for a small fee without incurring any interest. Contrast this with traditional lenders, where you often have to choose between making minimum repayments, which incur high interest, and a lump sum, which can impact your cash flow.
5. It’s mobile first
You probably use digital platforms to manage your business in the backend, communicate with your customers on social media and maybe even sell online, so why should your finance and payment options be any different? As a modern lender, hummpro is mobile first, so you can apply for funds, make a payment, or manage repayments on your phone wherever you are, whenever you want. [CTA] Don’t settle for old-school lending options. Hummpro offers a faster and simpler way to access the finance you need to do business.
Don’t settle for old-school lending options. Hummpro offers a faster and simpler way to access the finance you need to do business.