BILL expands on its commitment to SMBs impacted by SVB events

BILL expands on its commitment to SMBs impacted by SVB events

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Today BILL announced new offerings for businesses impacted by the Silicon Valley Bank (SVB) events.

As part of its ongoing commitment to stand with impacted businesses and support SMBs, BILL is expanding its offerings to help them stay fully operational. With these new programs, BILL is helping businesses not just complete payments, but also move and manage funds, and quickly access credit so they can confidently focus on their business needs.

“BILL has, and always will, stand by our customers. That’s what being a champion of SMBs is all about,” said BILL CEO and Founder René Lacerte. “For over 16 years, we’ve built a platform that enables customers to automate their financial operations with agility. Last week, we quickly guaranteed all transactions processed by BILL through SVB would be processed successfully before we had guidance from the government. We’ve worked tirelessly since our announcement to honor that promise. We’re now turning our attention to help even more SMBs access and move capital,” Lacerte said.

New offerings to enable business continuity

For existing BILL customers who are also SVB customers we are announcing:

  1. BILL balance: We are making available a product that customers have already used to transact over a billion dollars. It is a secure and convenient place to store and move funds in order to make faster vendor payments to any bank in the US with no additional fees.

  2. Pre-approval for a BILL Spend & Expense line of credit*: For BILL customers who need fast access to credit, this program will allow small businesses to quickly pay bills using a new or existing Divvy corporate card.

  3. Connect your SVB debit card to your BILL Pay By Card: You can access your funds immediately and use them to make payments to your vendors. We will reimburse all pay-by-card transaction fees made with your SVB debit card for the next 30 days beginning March 14.

In addition to the above three programs designed to support those impacted by SVB events, we are announcing a new 3 month free trial to use the BILL platform for any businesses looking to improve efficiency, control and visibility of their financial operations.

“What I’m hearing from SMBs impacted by the current situation is that they’re focused on keeping their business running, accessing their cash, and increasing visibility,” Lacerte said. “Our platform was designed to enable financial automation and control, and we are bringing the best of our capabilities together for SMBs in this important time of need.”

Core products and services to keep SMBs operational

BILL’s core products and services can also help SMBs streamline financial operations, provide better financial controls and visibility, and give users access to capital. On the BILL platform, SMBs can:

  • Drive efficiency and control in day-to-day financial operations by automating payables and receivables workflows on one platform. 
  • Manage cash in and out and meet business demands with a portfolio of fast and secure payment offerings including ACH, card, international transfers and more.  
  • Access business credit and control expenses with BILL Spend & Expense. 

All of these are a part of BILL’s ongoing commitment to automating the future of finance so businesses can thrive.

*While anyone may apply for a line of credit from BILL Spend & Expense, you must be an existing SVB customer to be eligible to apply for a pre-approved credit line. Your actual credit limit may vary. Other terms and conditions apply.

The information provided on this page does not, and is not intended to constitute legal or financial advice and is for general informational purposes only. The content is provided "as-is"; no representations are made that the content is error free.