The creative economy is transforming the way individuals make a living. However, traditional banks reject creators who use digital platforms as valuable small businesses due to their lack of credit. In this new era of content creation, we are in need of credit card financing for creators.
Fortunately, we have Karat. Their brand caters towards content creators, offering personalized financing rewards and support for entrepreneurs in the creator economy. With karat, creators can secure working capital and save more money as they grow.
Now, let’s take a look at some of Karat’s featured creators:
Graham Stephan is an Entrepreneur/YouTube with 3.9M subscribers. He said - “When we launched our own coffee line–Bankroll Coffee–Karat stepped up to provide the spending limits needed to run our business when other vendors were slow in processing our payments. Karat gets it.” (Source)
Alexandra Botez is a Chess Master/Twitch Streamer with 1.1M followers. She said - “Karat is the best card for creators–they gave me a top-notch business expense card when other financial institutions had rejected me twice.” (Source)
Nas Daily is a Facebook Influencer/Founder with 21M followers. He said "I have over $3M in revenue per year and 20 employees, but traditional financial institutions still don’t trust me with financing. Karat gets it.” (Source)
With Karat you can quickly expand your business. Your followers count is considered in their underwriting, giving you access to additional money for things like payroll, materials, and advertising. They also offer rewards in categories that cater to your needs – like ad spend. Karat members can choose up to three reward categories.
Secure Your Working Capital
You can make purchases using a merchant cash advance without paying any fees or interest. Your Karat card is used by Karat to grant you a merchant cash advance. This means that Karat gives you an advance that is repaid based on both your current and future revenue.
If Karat gives you a $200 advance and you spend $100, you must share a portion of your current and future earnings with Karat in order to continue working with the company and receive further advances. This sharing must stop once the $100 you spent has been paid off.
Creators will run commerce in the years to come. Karat’s business continues to grow rapidly, even if Karat is still restricting growth to recommendations from existing customers. At least, many of these creators have never before been treated like a legitimate business. In the future, we’ll expect more fresh models to fit the creator industry.
Watch the clip below from our show Good Morning Marketers where we discuss Karat Card and money management for content creators.