Skimmer, the pool service platform, launched Working Capital through Stripe, a new financing offering available through the Skimmer platform. Powered by Stripe Capital, the program gives eligible U.S. pool and spa service businesses access to fast, flexible financing they can use to invest in their business, hire additional help, or manage cash flow during slower months — with funds deposited directly into their bank account if approved.
For many pool service businesses, accessing financing has traditionally meant paperwork, long wait times and financing options that weren’t built around the realities of running a service business. Working Capital through Stripe removes that friction by using a business’s payment volume and history on Skimmer Payments to determine eligibility. Eligible businesses are automatically prequalified for a personalized financing offer. Applying for financing through Stripe Capital might require a personal credit check, but this credit check doesn't affect their personal credit score.
"Pool and spa professionals shouldn't have to put growth on hold while they wait for financing," says Jack Nelson, CEO of Skimmer. "Working Capital through Stripe is another example of what makes Skimmer unique. As the only purpose-built pool service platform currently offering this kind of embedded access to funding, we're continuing to find innovative and unique ways to help our customers grow their businesses.”
If eligible, businesses receive a personalized financing offer from Stripe and can select the funding amount that best fits their needs, up to their approved maximum. If approved, funds are typically deposited into their bank account in as little as one to two business days. Payments are made automatically as a fixed percentage of daily sales, allowing payments to adjust naturally with the pace of the business.*
Working Capital through Stripe is now available to eligible U.S. Skimmer Payments customers, subject to regional availability.
Find out more information about Working Capital through Stripe here.
*Stripe Capital loans have a minimum amount due each payment period, and if the minimum amount that you pay through sales doesn’t meet the minimum your account will be automatically debited the remaining amount at the end of the period. If your loan has a fixed payment, Stripe stops withholding from your Stripe sales when you meet the fixed payment amount. The payment terms for your offer will be detailed during the application process.
