In Anticipation of Hurricane Florence, Funders Suspend ACH Debits

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McLean, VA-based Breakout Capital is proactively suspending ACH debits for customers based in the counties designated by FEMA’s Major Disaster Declaration, according to an announcement made earlier today. They will be continuing to monitor the situation so that they can respond accordingly.

Gainesville, FL-based Elevate Funding is also pausing debits preemptively, the company says, for active merchants in North Carolina, South Carolina, and Georgia. After the storm, merchants can call in to report their damage or business status, they say. “Being based in Florida, exposed to many storms over the years, allows Elevate to understand how a hurricane’s damage can vary within 50 miles out to a 200 miles. Each case and customer will present different issues over the next week and some out to months.”

Chicago-based Lendr, echoed a similar plan. Company CEO Tim Roach says, “We will suspend payments for the rest of September for any client that is affected by Hurricane Florence. Most clients will come back on a reduced payment schedule for a short period of time. In the past we have provided additional funding for clients in need to help get their business back on track due to these types of natural disasters.”

Ft. Lauderdale-based Fundzio has announced that ACH payments are being suspended for businesses in South Carolina and North Carolina on Monday, Sept 17th through Friday, Sept 21st.

A State of Emergency has already been declared in North Carolina, South Carolina, Virginia, Washington DC, Maryland, and Georgia. It is currently a Category 3 Hurricane.

Hurricane Florence

Last modified: September 13, 2018

Category: Industry News


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