NMI Expands Business Capital Lending Program for Small Merchants
Embedded payments infrastructure company NMI is expanding its NMI Business Capital service to help more merchants access financing, according to a Wednesday (Sept. 23) press release. “The expansion reflects NMI’s focus on helping small businesses get the funding they need to be successful,” the release said. “For many merchants, that need comes at a very […] The post NMI Expands Business Capital…
Payments infrastructure firm NMI is broadening its Business Capital service to assist more merchants in securing financing, according to a September 23 press release. The expansion aligns with NMI's commitment to helping small businesses obtain the funding necessary for success, the release noted. Small businesses often require financing during specific moments, such as ordering inventory ahead of a busy season, replacing equipment, addressing unexpected expenses, or investing in growth.
Traditional financing channels often involve separate application processes, extended approval times, and uncertainty about the availability of funds when needed. Business Capital simplifies financing access by leveraging the platforms merchants already use in their business operations. The new financing options cater to a wider range of businesses, with term loans suitable for established merchants seeking larger capital amounts and a monthly repayment schedule, while starter offers are tailored for newer businesses, including those with limited credit histories.
NMI Product Manager Jason Ruckman emphasized that small businesses require different support at various stages of their growth, and Business Capital aims to provide more funding opportunities to help them build successful businesses while simplifying the process for partners. The embedded finance landscape appears to be evolving, with a significant majority of businesses encountering friction when using financial tools integrated into their customer or employee platforms, as reported by PYMNTS on September 7.
However, 93% of those businesses expressed high satisfaction with these capabilities, and 94% plan to increase their investment in embedded finance over the next three years. In June, NMI CEO Steve Pinado highlighted that businesses are increasingly considering factors like cost, speed, settlement requirements, and customer preferences when making financial decisions.
The transformation of payment providers is evident as they shift focus from solely processing transactions to assisting businesses in navigating a growing array of payment choices.
Written by urgent.news from PYMNTS's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
