Jan. 3, 2019
Jack Henry & Associates Inc. said its ProfitStars unit entered an agreement with CashFlow, the alternate lending unit of Chesapeake Bank, to offer faster access to business financing.
Chesapeake Bank, which has $823 million in assets, has worked with ProfitStars'accounts receivable financing and asset-based lending business for more than a decade, according to a press release. Now ProfitStars' Commercial Lending Center Suite will allow customers to apply for loans online and customers will be able to process checks and payments more efficiently.
Russ Bernthal, a vice president at Jack Henry & Associates and president of ProfitStars, said Chesapeake Bank has been using its factoring solution for more than a decade and noted that the partnership helps commercial clients grow their businesses.
"Chesapeake Bank has selected our full digital lending platform and remittance solution to attract and sustain lasting business relationships," he said in the release.
Topics: Mobile Banking, Mobile Payments
Companies: ProfitStars, a division of Jack Henry & Associates
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