Home music industry Q2 Cloud Loans Help GetCapital Accelerate Loans to Small and Medium Enterprises (SMEs) Affected by Coronavirus

Q2 Cloud Loans Help GetCapital Accelerate Loans to Small and Medium Enterprises (SMEs) Affected by Coronavirus

0

SYDNEY–()–Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for banking and lending, today announced that GetCapital has adapted its suite of working capital products by only two weeks to expedite application acceptance and funding for small and medium-sized businesses. medium-sized enterprises under the Australian Small and Medium Enterprise (SME) Coronavirus Guarantee Scheme. This solution is provided through Q2 Cloud Lending, Q2’s integrated cloud-based lending platform.

GetCapital, a T2 customer since 2015, is one of Australia’s leading non-bank commercial lenders and was one of the first to offer loans under the SME Guarantee Scheme. Due to the urgency of providing financial support to SMEs, the Q2 Cloud Lending solution focuses on streamlining and digitizing the lending process and can be set up and up and running within a week. The solution is designed to meet the expectations of the mobile borrower and is built natively on the Force.com platform, providing unparalleled flexibility, speed to market and scalability.

“We are grateful that the Treasury operationalized the program very quickly,” said Jamie Osborn, CEO of GetCapital. “A major challenge for businesses is getting access to financing to help them with the cash they need to get through this crisis.”

The Coronavirus SME Guarantee Program will support up to $40 billion in loans and guarantee 50% of new loans issued by eligible SME lenders. The initiative will strengthen the willingness and ability of lenders to provide credit, helping many otherwise viable SMEs to access vital additional financing to cope with the impact of the coronavirus. The program will be available for new loans made by participating lenders until September 30, 2020.

“SMBs have been among the hardest hit by this crisis, and using technology to help provide relief and reduce their pain during this time is essential. We are committed to working with organizations like GetCapital to help them serve those who need it most right now,” said Chris Boas, Managing Director of Q2 Cloud Lending in Australia.

“Q2 Cloud Lending has provided excellent support,” said Eldar Averdi, CTO of GetCapital. “The flexible cloud-based platform allowed us to deliver a solution in a very short time with features such as 6 month payment deferral.”

For more information on the Q2 Coronavirus SME Guarantee Scheme solution, please visit https://www.q2ebanking.com/sba-anz.

About Q2 Cloud Loan

Q2 Cloud Lending provides secure, cloud-based digital transformation solutions with actionable data analytics and access to open technology tools. Since 2004, we have built stronger communities by strengthening their financial institutions. Our digital banking solutions for deposits, money movement, lending, leasing, security and fraud enable financial institutions to deliver a better customer experience. To learn more about Q2, visit www.q2ebanking.com.

About GetCapital

A leading non-bank lender, GetCapital offers corporate finance, asset finance and payments solutions to SMEs. With a focus on customers, GetCapital provides the financial services businesses need and the service they deserve. Its track record and commitment to corporate finance innovation has been recognized by the industry’s top awards: GetCapital was named to the Deloitte Fast 50 Top 25 three years in a row; was ranked among LinkedIn’s Top Australian Startups of 2019; Fast 100 from AFR; was listed in SmartCompany’s Top 10 Smart50 2017-2018 and ranked among the fastest growing technology companies in Asia-Pacific.