SAN FRANCISCO — BlueTape announced the launch of its Buy Now Pay Later feature, a financing tool that enables construction professionals to buy their building materials now and pay back over time. As of today, builders and contractors can start using BlueTape to finance their building supplies invoices and improve their cash flow.
BlueTape partners with building material suppliers to offer their customers a wide range of payment options, including risk-free, flexible financing with simple terms. Their customers can access 30, 60, or 90-day financing with a fast online process.
“Our team is proud to give the hard-working men and women in the industry tools to help them run their businesses more efficiently and have access to financing to fuel their business when they need it. We started BlueTape with the goal of helping all small and medium-sized businesses in the industry. With the Buy Now Pay Later launch, we are able to help business owners who might not have easy access to traditional financing options have an opportunity to succeed,” said Yaser Masoudnia, CEO and co-founder of BlueTape.
BlueTape’s Buy Now Pay Later program is said to present no risk to building material suppliers, allowing them to get paid up front. Construction pros can get real-time approval and pay for their invoices with a few clicks on their phone from job sites or wherever it is convenient.
Launched in 2020, BlueTape is a financing and payment company tailored for the construction industry. All loans on the BlueTape platform are originated by CBW Bank, member FDIC.