Posted By Annie Pilon On November 14, 2012 @ 4:00 pm In Loans | 1 Comment
It’s a simple concept – businesses need capital in order to grow. But actually finding these funding sources can prove to be tricky. And many options available to brand new businesses come with high interest rates or other strings attached, making it difficult for these startups to actually grow and succeed.
Online financing platform Biz2Credit , owned and operated by Rohit Arora, CEO and co-founder, and a contributor here at Small Business Trends , has been helping these small companies search for and secure the right financing options since 2007, and now the platform has just released an updated iPad app that can pull financial data from even more sources, including the IRS.
The platform matches entrepreneurs and startups with funders based on preferences selected by the business. Over 100 major banks in the U.S., as well as credit rating agencies and other related service providers use Biz2Credit’s technology.
The site offers access to a wide array of loan and funding types, such as business startup loans, SBA loans, equipment financing, franchise loans, business credit cards, business acquisition loans and more. The process, illustrated in the photos above, requires users to fill out a quick loan application outlining their company’s information and financial needs. Then Biz2Credit searches through its database of different types of lenders to find those that are most relevant.
So for independent startups that want to avoid dipping into their own savings or taking out expensive lines of credit, Biz2Credit offers access to many different options that probably wouldn’t be feasible for a small company to track down on its own. The release of the company’s iPad app simply makes this tool even more accessible for businesses and entrepreneurs. Small businesses can even use the app to get a near-immediate credit score from credit rating agency Dun and Bradstreet.
The platform currently has BizAnalyzer  apps for both iOS and Android devices that allow entrepreneurs to see a roundup of their financial data and gives them an idea about their chances of receiving funding, as seen in the sample screenshot above. You can also view a sample report  (PDF)
Biz2Credit works with more than 1,100 banks and financial institutions and more than 150,000 small businesses. The company boasts a 74% loan approval rate for small businesses, as well as a 95% rate of returning customers.
Article printed from Small Business Trends: http://smallbiztrends.com
URL to article: http://smallbiztrends.com/2012/11/biz2credit-ipad-app-startup-funding.html
URLs in this post:
 Biz2Credit: http://www.biz2credit.com/
 contributor here at Small Business Trends: http://smallbiztrends.com/author/rohit-arora
 BizAnalyzer: http://www.biz2credit.com/biz-analyzer.html
 view a sample report: http://www.biz2credit.com/components/com_bizanalyzer/download.php?file=BizAnalyzer_sample.pdf