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GoDaddy Capital: Fast Cash for Small Businesses

In recent times, obtaining capital has become a pressing challenge for small businesses, particularly in a climate where traditional banks often lag behind. In response, GoDaddy has launched GoDaddy Capital, a new merchant cash advance program designed specifically to address this need for quick funding.

What is GoDaddy Capital?

GoDaddy Capital allows small and medium-sized businesses to access up to $1 million in cash within 24 hours. This program is available exclusively for users of GoDaddy Payments, which enables business owners not only to process payments but also to manage their cash flow and secure necessary working capital from a single, integrated platform. Customers can repay advances through a fixed percentage of their daily sales, a flexible approach that accommodates the fluctuating nature of business revenues.

Understanding the Need for Access to Capital

A recent study conducted by the GoDaddy Small Business Research Lab, which included responses from 2,100 small businesses across the United States, revealed that 51% of these businesses operate with limited cash flow—a tremendous barrier to their growth. Additionally, 21% of respondents identified access to capital as one of the top three challenges they face when starting their businesses.

Moreover, 31% pointed out that securing funding is a primary obstacle to scaling their operations, underscoring the persistent demand for more flexible financing solutions in today's economic landscape. Kasturi Mudulodu, President of Commerce at GoDaddy, aptly noted, “When a business needs a small, quick infusion of capital, banks call it 'too small,' drown owners in paperwork, and demand rigid payment terms.” With GoDaddy Capital, the aim is to make the financing process much more intuitive and accessible.

How Does GoDaddy Capital Work?

The application process is refreshingly straightforward:
1. Simplified Application: Business owners can apply with just a few clicks through their GoDaddy Commerce Home dashboard, without having to present extensive paperwork. Importantly, this does not affect their credit.
2. Customized Offers: After application review, businesses can explore various offers ranging from $500 to $1 million, tailored based on their monthly sales. This enables them to choose the option that aligns best with their unique business aspirations.
3. Quick Funding: Once approved, funding can be available in as little as 24 hours, allowing entrepreneurs to act swiftly in seizing opportunities.
4. Flexible Repayment: Payments adjust automatically as a percentage of daily sales, providing businesses the ability to pay off advances more quickly during sales peaks and reduce payments during slower periods.
5. Recurring Funding Possibility: If a business is eligible after the initial advance, they can reapply for additional funding to continue their growth trajectory.

Supporting Small Business Growth

Take, for example, Michael Wood, a small business owner who has utilized GoDaddy Capital on four occasions for his company, Jacksonville Chimney Pros. He has received over $100,000 in capital through this program, and he states, “GoDaddy Capital was hard to beat. The convenience, quick approval process, and next-day funding let me take on more large projects without keeping a large buffer in the bank.”

GoDaddy Capital empowers small businesses by providing flexible payment plans that assist owners in balancing their budgets while promoting manageable growth—vital for seasonal enterprises. Immediate access to funding enables owners not only to increase inventory or upgrade equipment but also to enhance market outreach and operational success, contributing to sustained long-term growth.

Conclusion

Having all necessary features for business management within their GoDaddy dashboard streamlines operations, allowing entrepreneurs to focus on growth rather than getting stuck in financing processes. For more information about GoDaddy Capital or to sign up for GoDaddy Payments, visit GoDaddy.com/payments.

Disclaimer: GoDaddy Capital funding is subject to application, underwriting, and approval provided solely by GoDaddy's partners. Credit decisions and cash advances are managed by GoDaddy's partners.