RapidAdvance, a leading online financial services company that offers flexible funding solutions to small and medium-sized businesses (SMBs), today announced a new partnership with iPayment, Inc., a trusted provider of payment and processing solutions. Under terms of the agreement, iPayment will offer RapidAdvance's business lending solutions and alternative financing programs to its more than 140,000 merchant customers.
"We are excited to partner with iPayment to provide fast and flexible business financing for its clients and help meet the demand for solutions that can be tailored to the specific needs and business goals of each client," said Will Tumulty, CEO of RapidAdvance. "iPayment understands that access to growth capital is an essential component to success for businesses."
"Small business lending is a critical offering for companies like ours," said O.B. Rawls IV, CEO and President, iPayment, Inc. "After a thorough search and pre-qualification process, we made the decision that RapidAdvance is the right partner for us, and more importantly for our customers. We are excited to bring their suite of offerings to our customers and our partners."
Providing working capital to business owners quickly, easily and seamlessly allows them to spend more time growing their business rather than searching for capital. iPayment will leverage RapidAdvance's technology-driven platform and personalized support to increase the availability of capital to merchant customers as an alternative or a complement to traditional avenues of business financing.
About RapidAdvance
RapidAdvance is a leading online financial services company that offers flexible funding solutions to small and medium-sized businesses. Having provided more than $1 billion in financing to businesses nationwide, RapidAdvance helps clients obtain working capital funds quickly and seamlessly. RapidAdvance is headquartered in Bethesda, Maryland, also has an office in Detroit, Michigan and is rated A+ by the Better Business Bureau. In 2016, the company was named one of The Washington Post's Top Workplaces in DC; one of Detroit's 101 Best and Brightest Companies; and ranked #1 in the small business category in the Detroit Free Press's annual survey of Top Workplaces in Michigan. RapidAdvance is a Rockbridge Growth Equity portfolio company. For more information visit www.rapidadvance.com and connect with us on Twitter @Rapid_Advance, LinkedIn and Facebook.
About iPayment, Inc.
iPayment is a trusted provider of payment processing solutions in the U.S. With over 18 years of experience and more than 140,000 SMB customers, the company is consistently recognized for its depth of payments experience, breadth of product offerings, and commitment to transparency and SMB support. From new product innovation to customer service satisfaction, iPayment is an organization focused on small business enablement and delivering relevant and impactful services and solutions that help partners and SMB customers grow their individual businesses. For more information on iPayment, please visit http://www.ipaymentinc.com.
