Fundbox’s small business borrowing solution now integrates with Zoho’s business management platform. The companies’ partnership aims to address the cash flow problem many small businesses face when clients pay invoices late, making it difficult to, among other things, remain tax compliant.
In a recent Fundbox study, 64 percent of small business respondents said they are adversely affected by late payments; more than 80 percent said their invoices are often over 30 days due. Cash flow is one of the main pain points for small businesses and freelancers.
“Cash flow is the lifeblood for many small businesses,” said Raj Sabhlok, president of Zoho, in a statement. “Now, our customers can not only recognize cash flow gaps, but get the cash they need from Fundbox.”
Fundbox chief product officer Prashant Fuloria stated that “Fundbox addresses an immediate need: paying small businesses for the work they’ve already done."
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