Apple has approved the SMBX app, a small business debt funding platform for small business

Small business debt funding is now just a tap away.

Individuals have an alternative to their banks on their iPhones. SMBX, an app recently approved by Apple, helps small businesses that can’t access bank financing due to their insufficient credit history.

Small business debt funding  now on a phone app

SMBX, a regulated Reg CF crowdfunding platform, allows companies to issue a fixed interest rate “small-business bond” in increments of as low as $10.

Investors, too, can pick up these bonds on the SMBX platform by participating in these offerings.

Interestingly, the blockchain powers the transactions on the platform, including the smart contracts backing the bonds.

A secondary market exists on the same platform and therefore your phone

Subject to holding period limitations as imposed by the Reg CF securities regulations, bondholders may also trade in their bonds. The app also provides a secondary transaction platform for such trades.

Bernal Cutlery, a “globally renowned cutlery shop” located in the Bay Area, is currently issuing capital on the SMBX app.

Finally, investors who want to take part in small businesses debt funding can expect to receive a fixed monthly return of up to 8%.