UPS-owned Ware2Go, which connects merchants with logistics and fulfillment services, is integrating small business financing to the platform through a collaboration with Fundera.
In a press release issued on Monday (Nov. 18), Ware2Go said its partnership with the small business online financing marketplace will allow joint merchant customers to access logistics and financing options in the same place, with offerings that include inventory financing, bank loans and commercial credit cards.
"Working with Fundera demonstrates our continued commitment to providing SMB merchants with all the tools and services they need to grow their businesses," said Ware2Go Senior Strategist Adi Trivedi in a statement. "Limited access to financial services and supply chain expertise has long constrained the growth of promising businesses. Now SMBs have a combined resource that delivers turnkey logistics technology and financing backed by two trusted brands."
In another statement, Fundera Senior Vice President Tony Santillo said access to capital can be "a defining moment for any small business owner."
"Our collaboration with Ware2Go will create more opportunities for a collective base of SMBs, allowing them to access the tools they need to secure the right type of financing that will drive their operations and position them for long-term growth," he said.
Earlier this year, Ware2Go's Go-to-Market Analyst Courtnei Sanders told PYMNTS about the biggest logistics challenges small businesses face today. "It's no longer enough just to create a good product," she said. "You need to provide superior customer service." Shipping and seamless supply chain operations are a part of that, she noted.
Fundera earlier this year released research warning small businesses about the pitfalls of mixing personal and business expenses on their credit cards, a practice that runs the risk of financial losses and non-compliance. Nearly one-quarter of SMBs surveyed by Fundera said they mix personal and business expenses on their business credit cards.