FinTech company Nuula, which provides small businesses with tools and capital, will partner with Mulligan Funding to offer term loans of up to $2 million through its app, a press release said on Tuesday (May 24).
Nuula’s term loan feature will allow small business owners to access financing with loan application, review, financing and management. All of this will be offered through a single application.
Nuula will provide access to larger, fixed-term loans to help business owners fund longer-term investments.
The release says Nuula also provides tools to track various metrics that drive business performance, giving small business owners ways to see cash flow, financial and business performance, among other things.
“Successful small business requires easy access to capital. Term loans are a fundamental financial product that many small business owners leverage to fund longer-term investments,” said Mark Ruddock, CEO of Nuula.
Meanwhile, Mulligan Funding CEO David Leibowitz said the idea was to continue updating the way financial services are delivered to businesses.
“Mulligan Funding is proud to offer Nuula small business owners and entrepreneurs fast, fair, and available 24/7 term loan functionality, all built right into the Nuula app,” said- he declared.
See also: SMB FinTech Nuula deploys financial health tool
Nuula also recently launched a new financial health tool, writes PYMNTS, which will allow small business owners to track financial metrics using the cloud.
The company said it would allow businesses to get real-time insights from their accounting software, giving a “comprehensive, continuous and intelligent view of their overall financial health.”
The tool will also offer the option to receive alerts soon on various things like missed payments and overdue invoices.