Rapid Finance Launches SoFi-Backed Rapid Access Card for Small Business Financial Flexibility

Empowering Small Businesses: The Launch of Rapid Access Card

Rapid Finance, a leading small business financing platform based in Bethesda, Maryland, introduces its Rapid Access Card, marking a significant development in the financial technology landscape. Following a successful pilot in April 2024, this new product, developed in collaboration with Galileo Financial Technologies, a subsidiary of SoFi Technologies, provides eligible Line of Credit (LOC) clients with immediate access to their funds. The card enhances the operational flexibility of small businesses, allowing them to manage cash flow efficiently and seize growth opportunities. It can be used for purchases wherever Mastercard is accepted, making it a versatile tool for business owners.

The Rapid Access Card streamlines the funding process for small businesses, offering eligible new clients automatic issuance within 5-7 business days after establishing their LOC. For existing clients who set up their lines of credit prior to October 25, 2024, the option to request a card is also available. Will Tumulty, CEO of Rapid Finance, highlights the company’s commitment to empowering small businesses through innovative financing solutions, emphasizing the card's role in facilitating better cash management. By allowing businesses to draw directly from their LOC accounts, the Rapid Access Card aims to enhance their financial agility and responsiveness to market demands.

This new offering aligns with Rapid Finance’s long-standing mission to support small business growth in the U.S. Since its founding in 2005, the company has leveraged technology and industry expertise to deliver customized lending solutions. The introduction of the Rapid Access Card complements its existing Rapid Enterprise line, which provides modular, scalable financial services tailored to the needs of enterprise partners. With this new product, Rapid Finance not only strengthens its position in the market but also enhances the financial tools available to small businesses, positioning them to thrive in competitive environments.

In addition to the card’s launch, Rapid Finance continues to focus on delivering flexible financing solutions that cater to the unique needs of small businesses. The collaboration with SoFi Technologies and Galileo Financial Technologies underscores the importance of technology in modern lending practices. This partnership enables Rapid Finance to provide innovative services that can adapt to the evolving landscape of small business finance.

As Rapid Finance rolls out the Rapid Access Card, the company reinforces its dedication to fostering economic growth and resilience among small businesses across the United States. This initiative is poised to transform how businesses access and utilize their financial resources, driving success and innovation in the sector. For further details about the Rapid Access Card, interested parties are encouraged to visit www.rapidfinance.com.