WASHINGTON, DC (Press Release – Jan. 19, 2012) – NAFCU Services Corporation today announced that Biz2Credit has been selected as its Preferred Partner for small business lending deal flow and related solutions. Founded in 2007, Biz2Credit, is an online small business platform that matches small businesses with lending institutions based on their business profile and preferences.
NAFCU-member benefits and other details of the partnership may be viewed at www.nafcu.org/Biz2credit.
“Small businesses have a tremendous need for capital today, given that large banks have largely stopped providing loans to that segment,” explains Rohit Arora, CEO of Biz2Credit and one of the nation’s leading experts in small business finance. “We believe that credit unions can play a major role in providing this financing and accelerating our economic recovery at the same time. They have been increasingly active in small business lending and will continue this trend throughout 2012.”
Biz2Credit has been ranked as one of the “Top Resources for Small Business Finance” by Entrepreneur.com and others. With over $500 million in funding and over 1.6 million small business users in the U.S., Biz2creditis the market leader in this space. The company’s patented technology and partnerships with leading credit agencies allows a credit union to set up rigorous criteria for credit quality, loan amount, location, and other key factors to ensure quality, pre-qualified deal flow.
“Many credit unions are willing and able to make member business loans, but may not currently have the infrastructure required to ensure a sufficient quantity of pre-screened potential lending opportunities,” said NAFCU Services president David Frankil. “Biz2credit.com is the perfect solution – a credit union can very precisely set parameters and then quickly see pre-qualified deal flow. This is not just a ‘quantity over quality’ lead generation system – Biz2credit.com only forwards pre-qualified leads that meet specified criteria.”
Rohit Arora, who was recognized as “Top Entrepreneur of 2011” by Crain’s New York Business, described the experience of one of their client financial institutions. “We are working with a $135 million asset base institution with a total of $40 million in business loans,” noted Arora. “They joined the Biz2credit.com lender network and generated $15 million of those loans in 2011 directly from our platform – with an average deal size of $850K to $1.1 million.”
Founded in 2007, Biz2Credit is a leading credit marketplace connecting small- and medium-sized businesses with lenders, service providers, and complimentary business tools. The company matches borrowers to financial institutions based on business’ unique profiles– completed in less than four minutes – in a safe, efficient, price-transparent environment. Biz2Credit’s network consists of 1.6 million users, 450+ lenders, credit rating agencies such as D&B and Equifax, and small business service providers including CPAs and lawyers. Having secured more than $500 million in funding throughout the U.S., Biz2Credit is widely recognized as the #1 credit resource for small businesses.
About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry’s leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 30 Preferred Partner programs to the credit union community and maintains the credit union locator website CULookup.com. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.