H&R Block and TurnKey Lender announced a new partnership on Tuesday to support franchisees amid the coronavirus pandemic. H&R Block will rely on TurnKey Lender’s Enterprise Unified Lending Management solution to help meet franchisees’ business cash flow needs.
H&R Block seeks to inspire confidence in their clients and communities with the move. With TurnKey Lender, the company saw an opportunity to better manage franchisee loans. TurnKey Lender offers digital loan requests, faster loan decisions, and improved overall portfolio quality. Through the partnership, H&R Block sought to enhance loan-management processes for franchisees. TurnKey Lender’s system offers increased efficiencies, automation, and standardization in a one-login system.
“H&R Block came to us looking for strategies to help them heighten satisfaction among their franchise owners, and to develop a funding strategy for future franchise expansion,” said Elena Ionenka, co-founder of TurnKey Lender. “We’re perfectly positioned for that — and really for any scenario where credit-management technology is called for.”
H&R Block Coronavirus Measures
H&R Block’s move comes as the company’s business model is clearly impacted by the coronavirus pandemic. Traditional tax preparation services rely heavily on face-to-face, client interaction. In a statement released March 18th, H&R Block CEO, Jeff Jones announced specific coronavirus measures the franchise was taking.
“The wellbeing of our associates is of significant importance. While we want to help you prepare your taxes, we also want our associates to stay healthy. We are increasing office cleanings, we have signs up asking those who are sick to not enter the office and call to make other arrangements, we are prohibiting air travel and providing alternative work arrangements when possible. We will do what we can to minimize the number of people in our office, including encouraging our clients to limit the number of people they bring to their tax appointment. Finally, we are putting in place important new policies to help associates based on a variety of different circumstances they may face as a result of this pandemic.”
The company also instituted a tax document drop off and remote connection program. Jones noted the company would “continue to provide in-person tax help in most of our offices,” but encouraged drop off. The company’s representatives would then reach out to discuss returns and answer questions.
The TurnKey Lender partnership provides an avenue to alleviate revenue declines resulting from the coronavirus.
TurnKey Lender’s Funding Support
TurnKey Lender’s Unified Lending Management solution provides a seamless experience that is quick and transparent. The white-label and fully supported Enterprise Unified Lending Management solution also includes advanced reporting and analytics functionality for transferring information to and from the system in seconds.
On the lender side, this means faster time for approving loans and receiving loan interest payments. In turn, this translates to more money for the company and less time spent fumbling through paperwork. Companies can scale quickly with new loan products and get them to market in days.
About TurnKey Lender
TurnKey Lender is changing how businesses everywhere succeed. The company puts state-of-the-art lending software in the hands of businesses of all sizes, using proprietary technology that securely digitizes every step of credit management. Clients of TurnKey Lender’s end-to-end platform represent an array of industries, from traditional lenders to retailers and service providers eager to boost point-of-sale and mobile purchasing for their customers.
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