Month: April 2022

Torpago: The New Player In the FinTech Game

There’s a new player joining Brex, Divvy, and the rest in the FinTech game. Torpago offers similar money management tools and integrations as the rest, with the added bonus that only a couple of the others offer. They report payment to the business credit reporting agencies. 

Is Torpago Right for Your Business? 

It has a number of services that can help your business manage funds more effectively and efficiently. From corporate cards to help manage employee spending to top software integrations, they have plenty to offer. 

Card Details

There are both physical and virtual card options. Limits are assigned on an individual basis. They claim their proprietary underwriting process and technology allow them to offer higher credit limits than traditional business cards. 

In addition, there is no personal guarantee or deposit requirement. Furthermore, it seems to function more like a charge card. So, similar to Net 30 financing, you pay off the total balance in 30 days. That means, there is no interest. To qualify, you need:

  •  A legal business name
  • Employer Identification Number (EIN)
  • Physical company address
  • And a business bank account. 

Rewards

Earn one point per dollar spent. In addition, they have offers and discounts with Quickbooks, Carta, and Plastiq. 

Integrations

They have integration capacity with Quickbooks, FinancialForce, Acumatica, and NetSuite. The integrations offer real time accounts meaning as soon as you swipe, the expense is recorded appropriately in your system. 

Business Credit

They require all approved customers to connect their business bank account to the Torpago system. They partner with Plaid to allow you to do this securely. After that, they have read-only access to view your balance. As your business grows, they will increase your limit. 

They also claim to report payment to help build business credit. However, they only state on their site that they report it to the “right people.” They do not say which business credit reporting agencies they report to. 

Reputation and Reviews

This is a new company that didn’t even have a BBB file until the end of 2020. Unfortunately, they have a C- rating with the Better Business Bureau. They also have an app in the Apple Store that has 4.3 stars. Other than that, while there are few things floating around, almost everyone seems to be kind of in a “wait and see” holding pattern with this one. 

Conclusion

There is nothing glaringly wrong here. While they don’t state who they report to, no one seems to be disputing that they do report to someone. So, if you choose them for your money management needs, the credit can definitely come in handy. Since it seems their underwriting processes may be more small business friendly than traditional banks, it can’t hurt to give them a shot.  But remember, one account reporting isn’t enough to build strong business credit. You’ll need more. Check out these 7 vendors to help you start building business credit. 

The post Torpago: The New Player In the FinTech Game appeared first on Credit Suite.

Lady Gaga dog walker shooting suspect released from jail by mistake: reports

Los Angeles County Sheriff’s deputies were searching for a suspect connected to the shooting of Lady Gaga’s dog walker after he was released from jail by mistake, according to reports.

New comment by GraceDRC in "Ask HN: Who is hiring? (April 2022)"

DrChrono (YC SW11) | Sr DevOps (Lead) | REMOTE, FULL-TIME | US, Latin America

Our team is quickly growing! If revolutionizing healthcare excites you, join our growing team and help us achieve our mission to build better software for doctors and patients and improve healthcare for all.

DrChrono, an EverCommerce solution, was founded and is led by two software engineers, Michael Nusimow and Daniel Kivatinos. Unlike other healthcare companies, our company is built from the ground up to address modern healthcare through technology and innovation. We believe in open APIs and being part of an open ecosystem!

Sr DevOps (Lead)
https://jobs.lever.co/drchrono/b5e38308-0795-4f5c-9627-79fe5…

New comment by MSergot in "Ask HN: Who is hiring? (April 2022)"

Manifold AI | Staff-Level Software Engineer (Data Platforms)|Remote|Full Time|US & Canada

Manifold is seeking software engineers with experience working with Java/Spark pipelines on the cloud: https://boards.greenhouse.io/manifoldai/jobs/4998596003

Manifold is an AI company that builds scientific infrastructure for the modern era. We partner with customers across the private, public, and nonprofit sectors to transform the way they use data and scale their impact. Our customers range from high tech, global life sciences companies to leading research institutions. Our world-class team combines the product design and engineering expertise of the world’s top software companies with the scientific expertise of the world’s top research institutions.

Tucker: Censorship now defines America's public conversation

Guests: Matt Finn, Miranda Devine, Candace Owens, Jason Rantz, Stephen Miller, Eva Vlaardingerbroek, Jonathan Pelson

Inside Haas: How F1's American team cut ties with Mazepin and his oligarch father

The story behind Haas’ decision to fire its Russian driver Nikita Mazepin and how it plans to survive without his father’s millions.

The post Inside Haas: How F1's American team cut ties with Mazepin and his oligarch father appeared first on Buy It At A Bargain – Deals And Reviews.

MotoGP's Marquez says he's fit to race Austin

Six-time MotoGP champion Marc Marquez said Wednesday he has been medically cleared to return to racing this weekend at the Grand Prix of the Americas after vision problems sidelined him for the previous two races.

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How to Capture Brand Voice in Content Writing

The McDonald’s golden arches in the form of the letter “M,” the first letter of the fast-food giant’s name. Its highly recognizable bright yellow and red color scheme is internationally recognized by its repeat customers. …

The post How to Capture Brand Voice in Content Writing appeared first on Paper.li blog.

How to Create Your Personal Brand’s Visual Identity

Visual branding is the most effective way to create a powerful online presence. If you don’t believe me, check out this article on why visuals are important in marketing: When half of the human brain …

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Is Alternative Lending from Industrial Banks Right for Your Business?

What are industrial banks? What makes them different from commercial banks? More importantly, are they a better source of lending for small businesses? Let’s find out. 

Industrial Banks Are Not New 

These banks are also called Industrial Lending Companies (ILCs). They have roots way back in the early 1900s. That’s when large companies sometimes offered banking services to their employees. Some of these later ventured into the commercial banking realm. In fact, you’ll probably recognize a few. For example all of the following crossed over from industrial bank to commercial. 

  • Goldman Sachs
  • American Express
  • Merrill Lynch Bank USA
  • Morgan Stanley Bank
  • GE Capital Bank
  • And GMAC Bank

Industrial vs. Commercial Banks

The difference between industrial and commercial banks relates to services and structure.

Industrial  Commercial 
Longer repayment periods, often for 15 or 20 years  Financing and repayment periods are typically shorter periods of time 
Do not offer checking accounts. May focus on a single product line, such as auto loans or credit card payment processing Customers can open savings, checking, or money market accounts and certificates of deposit 
Offer limited services, usually installment loans for consumers and small businesses  Earn profits from interest-bearing loans they offer to customers, such as mortgages, personal loans, business loans, and more 
Most are located in Utah Located throughout the U.S. 
Many do not have traditional branches Traditionally offer a number of in-person branches
Limited to states that permit them Exist in all U.S. states 

Currently, only 7 states in the U.S. allow these institutions, and over 90% of these types of banks are in Utah. 

Why Use These Banks for a Business Loan?

It’s simple really. Traditional banks often deny small business loan applications. Due to less regulation, other types of lenders can be less strict. They may be able to offer approval where traditional lenders cannot. 

Are Industrial Banks Safe?

There is no oversight from the Federal Reserve. However, that does not mean these institutions are unregulated. In fact, deposits are FDIC insured. There is also oversight from the chartering state. Currently, only Utah, California, Colorado, Nevada, Hawaii, Indiana, and Minnesota charter these ILCs.  

A Legit Funding Option?

They aren’t a bad option for small business funding. In fact, it may be easier to get approval.  However, terms and rates may be higher. Still, to get the most out of all your business funding options, business credit is a must. Find out more about building business credit now. Schedule a free business finance assessment from one of our specialists. 

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