Feb. 5, 2025-- Cantaloupe, Inc. (Nasdaq: CTLP), a global leading provider of end-to-end technology solutions for self-service commerce, is excited to announce its newest platform, Cantaloupe Capital, in collaboration with Fundbox, a leading working capital platform for small businesses. This new offering provides small businesses with streamlined access to capital for expansion through equipment investments and flexible access to cash flow.
In the self-service retail industry, small businesses often face challenges accessing traditional financing options. In fact, according to the 2024 Federal Reserve Small Business Startup Credit Survey, only 43% of startup small businesses (with employees) that applied for traditional financing received funding and only 29% of owner-operated startups received funding.
The Cantaloupe Capital offering directly addresses these financing-related pain points by focusing on factors like steady business performance and growth potential. With eligibility criteria tailored to small businesses, the platform ensures that more operators can access the capital they need to thrive.
"The majority of our customers are small and growing businesses, many of them sole proprietors. Cantaloupe understands their need for accessible financing solutions that can help them scale their operations," said Elyssa Steiner, Chief Marketing Officer of Cantaloupe, Inc. "With Cantaloupe Capital, we're breaking down barriers to funding by facilitating quick and easy online access to capital for owner-operators that will allow them to invest in new equipment, manage seasonal fluctuations, and capitalize on growth opportunities in the rapidly evolving self-service retail space."
https://www.businesswire.com/news/home/20250205421401/en/
