New research from Raistone reveals as much as $4 trillion in invoices tied up in U.S. supply chain on any given day
Amid the ongoing global supply chain crisis, Raistone today announced a new initiative to assist the companies that are frequently hardest hit by economic disparity, by waiving enrollment fees through the end of 2022 for minority- and women-owned business enterprises (MWBEs) in the supply chain.
The announcement from Raistone, a world-leading fintech that specializes in supply chain finance, comes as MWBEs have been disproportionately affected by Covid-19 and subsequent supply chain struggles. Raistone understands that even the smallest company can play an essential role in the global supply chain and that access to working capital can help relieve these pressures and ensure businesses — and their employees — can get back to work.
“Minority- and women-owned business enterprises are often some of the smallest and most vulnerable parties within the supply chain,” said Dave Skirzenski, CEO of Raistone. “We are proud to do our part to support businesses in need, particularly in tough times like these. By waiving fees for these essential suppliers, Raistone is helping to level the playing field as the global supply chain recovers.”
As part of its spotlight on the supply chain and the role working capital solutions can play in alleviating cashflow challenges, Raistone today issued a whitepaper entitled “Stabilize Your Supply Chain.” In it, Raistone details how there are as much as $4 trillion worth of outstanding invoices waiting to be paid on any given day in the U.S. — money that many small-to-medium-sized businesses (SMBs) cannot access. Cutting-edge technology from Raistone provides companies access to that much-needed cash, helping them survive and thrive even amid a global crisis.
“As we began to do the research for this new whitepaper, we quickly realized just how many businesses that are hurting because of the supply chain crisis are owned by women and minorities,” Skirzenski said. “Helping SMBs has always been a key focus for us at Raistone, but the current supply chain challenges have shone a light on the increasing challenges businesses now face in a post-Covid world.”
Since 2019, Raistone has maintained a tech hub in New Orleans, a majority-Black, Indigenous and People of Color (BIPOC) city with a strong talent pool and thriving startup community.
MWBEs interested in learning more about Raistone’s working capital solutions, which will be provided with no enrollment fees to them through the end of 2022, can contact mwbe@raistonecapital.com. Raistone’s new whitepaper, “Stabilize Your Supply Chain,” can be downloaded at go.raistonecapital.com/stabilize/.
About Raistone
Raistone was born with the vision of equalizing access to working capital and meeting the demand for working capital on a global scale. A world-leading fintech backed by equity investments from a broker dealer, $30 billion family office, a $900 billion wealth manager, and an international bank, Raistone enables the financing of billions of dollars in transactions every year. Its best-in-class technology coupled with unparalleled access to institutional capital extends financing to companies of all sizes, fully integrated with the same software platforms they already use. Raistone works to ensure that all businesses have access to their money, on their terms. For further information, visit raistonecapital.com.
