Financing Solutions for Businesses
On this episode of Paychex THRIVE a Business Podcast, Gene Marks is talking with the CEO of the business funding and financing company, Revenued, Solomon Lax.
Hear as Solomon shares his thoughts on rethinking the requirements for businesses in need of financing, how Reveuned can help companies with subprime credit, the Revenued Business Card, and more.
00:00 — Welcome, Solomon Lax
00:40 — Introduction to Revenued
01:54 — Rethinking credit scoring
03:32 — The process of getting a loan
04:21 — Thinking beyond the FICO score
05:25 — Merchant cash advance
07:41 — The opening for Revenued
07:50 — Looking at the business as a whole
09:50 — The Revenue business card
11:12 — Who should take advantage of this card?
12:00 — Return on investment when considering loans
13:34 — Revenued card compared to traditional cards
16:17 — Terms of repayment
16:42 — Point of sales systems and accounting systems
19:26 — Types of businesses using the Revenued card
20:53 — The benefit to under-prime businesses
23:48 — Episode wrap up