ApplePie Capital Partners with LSQ Funding on A/R Franchise Financing
SEP 18, 2019 - 6:45 am
Online lender ApplePie Capital entered into a new strategic partnership with LSQ Funding Group, a technology-enabled provider of accounts receivable financing for small and mid-sized businesses.
The partnership enables ApplePie to offer efficient accounts receivable financing and outsourced accounts receivable management to franchise businesses across the U.S.
“We are always looking for new ways to help franchise businesses grow,” said Denise Thomas, CEO and co-founder of ApplePie. “For franchise concepts that cater to business customers, processing invoices and waiting 30-90 days or more for them to get paid can really inhibit growth. We are thrilled to partner with LSQ, which offers an affordable and easy way for franchisee entrepreneurs to unlock capital trapped in outstanding invoices and accelerate their growth.”
“Our mission at LSQ is helping businesses conquer their short-term cash flow challenges and simplify their invoice processing,” said Miguel Serricchio, executive vice president of Channel Management & Strategy at LSQ. “We are excited to partner with ApplePie because of the strong channel within franchising that they have developed, and the tens of thousands of franchise businesses that can benefit from our solutions.”
LSQ’s scalable financing program provides competitively priced lines of credit from $5,000 to $50 million, with advance rates of up to 90% on business-to-business invoices. Once a franchisee’s business customers are approved, a franchisee can obtain same day funding on a new invoice, usually within 2-3 hours. As part of the solution, LSQ provides fully outsourced accounts receivable management, saving franchisees the time and effort of collecting funds from their clients.
Headquartered in San Francisco, ApplePie Capital is an online lender which enables single- and multi-unit franchisees to efficiently obtain financing to start or expand their franchise business.
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