Biz2Credit Provided $50 Million in Small Business Loans During September 2011, Has Now Arranged More Than $500 Million in Financing
Biz2Credit (www.biz2credit.com), the #1 online credit resource for small businesses, today announced that it arranged a monthly record of $50 million in loans and refinancing in September 2011.
- New York, NY (1888PressRelease) November 05, 2011 - Biz2Credit (www.biz2credit.com), the #1 online credit resource for small businesses, today announced that it arranged a monthly record of $50 million in loans and refinancing in September 2011. With this total, Biz2Credit has passed the $500 million mark in loans arranged between lenders and small business borrowers since 2007.
Among the small business financing deals Biz2Credit arranged in September were:
1. Accounts Receivable financing of a NJ-based limousine company: $9 million
2. 7-year Term Loan: $6 million
3. 25-year SBA Loan for a gas station in Washington: $3.3 million
4. Refinancing for a gas station in Wisconsin: $2 million
5. SBA Loan for a medical practice in New Jersey: $1.8 million
"Despite reports to the contrary, there is no shortage of small companies looking for funding, yet it is by no means easy to secure capital," said Rohit Arora, CEO of Biz2Credit, one of the country's top experts on small business lending.
"In September 2011, Biz2Credit arranged for a record $50 million in loans for entrepreneurs. We are finding that as the credit markets remain tight, deals are increasingly being done with alternative lenders, credit unions and small banks, rather than with big banks. Large lenders have stricter lending criteria to which they must adhere, while local and regional banks and non-bank lenders tend to be much more flexible."
Founded in 2007, Biz2Credit is a leading credit marketplace connecting small- and medium-sized businesses with lenders and professional service providers. The company matches borrowers to financial institutions based on business' unique profile -- completed in less than five minutes -- in a safe, efficient, price-transparent environment. Biz2Credit's network consists of 6 million users, 400+ 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.