Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `amp_init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114

Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `amp_init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114

Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114

Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114
Novo secures $125m credit facility to provide working capital to small businesses through Novo Funding | Fintech InShorts: Latest fintech news, analysis by experts
Monday, December 23, 2024

Novo secures $125m credit facility to provide working capital to small businesses through Novo Funding

Miami-based financial platform Novo is launching Novo Funding, aiming to provide up to $75,000 of working capital to small businesses, offering various benefits and a straightforward repayment scheme.

Facts

  • Novo Funding is a new offering by Miami-based financial platform Novo, seeking to connect small businesses with working capital.
  • The platform aims to provide “instant access” to up to $75,000 of working capital to small businesses, giving them full autonomy over fund deployment.
  • Small businesses using Novo Funding can choose to pay only for the funds they access, with a repayment scheme of six months per draw.
  • Applicants must have been operational for at least six months and have a minimum of six months of business checking account transaction history.
  • In a pilot trial in March, thousands of small businesses accessed over $35 million in funding through the platform.
  • Novo secured a $125 million facility from Victory Park Capital to make the platform possible.
  • Novo also offers other products to help small businesses, including a small business debit card and an enhanced invoicing tool for faster payments.

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

What is Fintech?

Fintech: A term used to refer to innovations in...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...

Singapore-based fintech start-up WSPN bags $30m seed funding

WSPN (Worldwide Stablecoin Payment Network), a Singapore-based stablecoin...

Mastercard set to lay off around 3% of global workforce

Mastercard plans to cut around 3% of its...

HSBC reportedly considering sale of its South African business

HSBC Holdings is reportedly considering selling its South...

USAA president and CEO Wayne Peacock to retire in 2025

Wayne Peacock, President and CEO of USAA, plans...

Singapore’s Valverde taps Broadridge for investment management solution

Valverde Investment Partners, a new Singapore-based investment firm...

US fintech Amount lands $30m in fresh funding to advance AI capabilities

Funding Round: Amount, a digital origination and decisioning...

Sharon Naidoo named new TransUnion CFO for the UK and Europe

Appointment: Sharon Naidoo has been appointed as the...

Related Articles

Popular Categories

spot_imgspot_img