Super G Holdings Launches SaaS Funding

As more and more IT services are coerced to go off-premises, the demand for software as a service (SaaS (News - Alert)) has increased. It is indicated that the SaaS is now a $14-billion global market that continues to expand.

Many software developers these days are opting for alternative financing options to conventional bank financing. The model shift from on-premises to SaaS model benefits both consumers as well as independent software venders (ISVs), as the upfront license fees is negligible in SaaS model, thereby increasing the funding strain for many ISVs, elucidated Darrin Ginsberg, CEO of Super G Holdings.

Cashing in on this, Super G Holdings, a provider of small business financing solutions, has rolled-out its third product, SaaS Funding, which facilitates developers to leverage their recurring subscription revenue to obtain growth financing while retaining equity ownership.

Under the SaaS Funding plan, loan amounts range from a minimum of $25,000 up to $2 million. Interested firms should be in business for at least one year, have recurring revenue of at least $25,000 per month and have at least one hundred paying users.

Featuring rapid funding, SaaS Funding was created for the needs of busy developers. With the help of SaaS Funding, ISVs can use the money for any business purpose, such as capital to increase marketing, launch a new product or version, or invest in developers, said officials with Super G Holdings in a statement.

Ginsberg added, “SaaS Funding is an extension of our experience lending against recurring revenue streams and our passion for working with entrepreneurs building small businesses.”

Currently, Super G Holding is operating three primary lending businesses, namely Super G Funding that provides ISO loans, BizCash and SaaS Funding that lends to software developers. BizCash was launched last year to provide cash flow based lending to a wide array of business types.

In a recent report on TMCnet.com, April was declared National Financial Literacy month in the United States.