Navigating the COVID-19 pandemic continues to present challenges for businesses across the country despite small business relief measures offered by the federal government. This is especially true for minority- and female-owned businesses that may lack access to resources available to other companies.
Effects of the Pandemic on Minority-Owned and Female-Owned Businesses
The U.S. Chamber of Commerce recently outlined some of the factors affecting minority- and female-owned businesses. Its findings were sobering. Not only are these companies anticipating greater revenue drops and more competition in upcoming quarters, but they’re more likely to be denied a loan now when they need it most.
The Future of Business for Minority-Owned and Female-Owned Companies
If your business fits in one of these categories, you may be worried about navigating cash flow concerns in the wake of the pandemic. You may even be considering measures to transition the way you do business so that you can continue meeting your customers’ needs. This may include offering delivery services, reducing capacity in your place of business, or moving to a new building.
Now, more than ever, you need partners who can help you navigate uncertainty and find the right solutions for your business. That’s part of what we do at Safrapay. Our business banking and growth tool solutions are designed to meet the financial needs of your business.
Small business relief and other support are just as important in a post-pandemic landscape as they were during the lockdowns. Safrapay offers solutions for minority- and female-owned businesses with payment solutions and processing plans that streamline contactless payment acceptance between your company and your customers.
Integrated Business Banking
Safrapay offers a $0 monthly business banking solution through Safra National Bank of New York, member FDIC. As a business banking customer, you have access to your account through the Safrapay Banking App, where you can transfer money, make mobile deposits, and monitor your balances using your smartphone. The account comes with a contactless debit card for making business purchases and conducting cash transactions at a nationwide network of ATMs. Approved merchants are also eligible for a business credit card that lets them earn rewards points for business purchases and automatically gives them travel benefits and business tool discounts!
Flexible, Portable Payment Processing
Our selection of POS equipment includes stationary systems and portable devices. You can even accept credit and debit cards on the go using an iPhone, iPad, or Android device—a convenient option if deliveries are now a routine part of your business.
Convenient Payment Options for Customers
Customers have discovered the convenience of shopping from home and receiving packages at their front door, and they like it. This shift presents new opportunities for collecting payments. In addition to in-person POS equipment or a virtual terminal solution, Safrapay offers touch-free payment solutions like online invoices so customers can make a payment from anywhere.
Financial Products for Your Business
Safrapay, together with its sponsor bank Safra National Bank of New York, Member FDIC, is a one stop shop offering payment processing solutions and business banking services.
Safrapay is committed to helping businesses navigate the challenges brought on by COVID-19 with a selection of growth tools that offer support for small businesses. From business credit cards to Merchant Cash Advances and Express Payouts, you have access to the money you need to keep your business moving forward.
Contact us today to discuss your needs and how we can help.