The economy is hemorrhaging as much of the world’s economy is closed. As a result, small businesses need loans and capital right now. Not a tax credit but cash in their banks immediately. It appears that a few businesses are stepping up as part of their new marketing campaign offering a $1,000 to any company.
When I first saw this offer from Womply and FundRocket I thought it was too good to me true. After speaking with Toby Scammell, the CEO of Womply, it seems like the real deal. Here is how it works:
Their new program, Stimulus 2020 gives interest-free capital and free access to financial benchmarking software to any local business in America. According to my interview, any verified U.S. small business can receive a no-fee, no-interest $1,000 capital.
To qualify for the capital offer, a business only needs to verify a legitimate business bank account. There is no credit check or collateral requirement, and most businesses will be approved. Once the company is validated, the $1,000 capital offer is sent immediately via ACH and can be available for use within one business day.
The capital has no restrictions and can be used for any business purpose. Repayment terms are flexible and based on a percentage of business sales, with a cap at $100 per week. FundRocket is doing this as part of a marketing initiative to acquire more small business customers. At the time that they offer $1,000, they will also offer a larger loan at a competitive rate.
Need a small loan? Check it out and let me know what you think!
