You have to spend money to make money, and financial technology company Clearbanc now has a way to get some of that money to brands on Facebook.
Clearbanc and Facebook teamed up to launch the Chrged program, which gives advertisers on Facebook that connect their ad accounts on the social network and their payment processors access to:
- Custom financing of up to $500,000, with flexible repayment options
- Financial support
- Cross-border resources
- Learning tools via the Facebook Blueprint e-learning initiative
Clearbanc said in a release introducing Chrged that it will establish affordable, fixed fees for businesses, adding that credit checks are unnecessary as advances of financing are based on companies’ business data.
Facebook director of small and midsized businesses in North America Katherine Shappley said in an email to Social Pro Daily, “At Facebook, we are in the business of helping small companies become large and local companies become global. The Chrged program by Clearbanc provides an exciting opportunity for businesses to access the resources they need to grow.”
And Clearbanc co-founder Michele Romanow added in the release, “There are so many companies that can grow from non-dilutive financing. We’re so excited to help North American businesses grow using Facebook.”