Q2 Cloud Lending Helps GetCapital Accelerate Loans to Small and Medium Enterprises (SME) Affected by Coronavirus

SYDNEY–(BUSINESS WIRE)–Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for banking and lending, announced today that GetCapital adapted its suite of working capital products in just two weeks to accelerate application acceptance and funding to small and medium enterprises under the Australian Coronavirus Small and Medium Enterprises (SME) Guarantee Scheme. This solution is provided via Q2 Cloud Lending, Q2’s integrated, cloud-based lending platform.

GetCapital, a Q2 customer since 2015, is one of Australia’s leading non-bank business lenders and was one of the first to offer loans under the SME Guarantee scheme. Due to the urgency of getting financial support into the hands of SMEs, the Q2 Cloud Lending solution is focused on streamlining and digitising the loan process and can be set up and running within a week. The solution is designed to meet the expectations of the mobile-first borrower and is built natively on the Force.com platform, providing best-in-class flexibility, speed to market and scale.

‘We are thankful the Treasury operationalised the Scheme very quickly’, said Jamie Osborn, CEO of GetCapital. ‘A key challenge for businesses is getting access to finance to help with the liquidity they need to see them through to the other side of this crisis.’

The Coronavirus SME Guarantee Scheme will support up to $40 billion of lending and guarantee 50 per cent of new loans issued by eligible lenders to SMEs. The initiative will enhance lenders’ willingness and ability to provide credit, supporting many otherwise viable SMEs to access vital additional funding to get through the impact of Coronavirus. The Scheme will be available for new loans made by participating lenders until 30 September 2020.

‘SMEs have been some of the hardest hit in this crisis, and using technology to help deliver aid and reduce their pain during this moment is critical. We are committed to working with organisations like GetCapital to help them serve those who need them most right now’, said Chris Boas, managing director of Q2 Cloud Lending in Australia.

‘Q2 Cloud Lending provided great support’, said Eldar Averdi, CTO of GetCapital. ‘The flexible, cloud-based platform enabled us to deliver a solution in a very short period of time with features such as 6-month payment deferral.’

For more information on Q2’s Coronavirus SME Guarantee Scheme solution, please visit https://www.q2ebanking.com/sba-anz.

About Q2 Cloud Lending

Q2 Cloud Lending delivers secure, cloud-based digital transformation solutions with actionable data analytics and access to open technology tools. Since 2004, we’ve built stronger communities by strengthening their financial institutions. Our digital banking solutions for deposits, money movement, lending, leasing, security and fraud enable financial institutions to deliver a better customer experience. To learn more about Q2, visit www.q2ebanking.com.

About GetCapital

A leading non-bank lender, GetCapital services SME’s with business finance, asset finance and payments solutions. With a strong focus on customers, GetCapital provides the finance businesses need and the service they deserve. Its track record and commitment to business finance innovation has been recognised by top industry awards: GetCapital has made the Deloitte Fast 50 Top 25 three years in a row; was ranked among LinkedIn’s Top Australian Startups in 2019; AFR’s Fast 100; been listed in SmartCompany’s Top 10 Smart50 2017-2018 and ranked among the fastest-growing technology companies in Asia Pacific.

Contacts

Beth Williams

Q2 Holdings, Inc.

O: 512.685.2023

beth.williams@q2ebanking.com