Biz2Credit of New York, founded in 2007, seems to have hit its stride as an avenue to locate funding for numerous small businesses. Overall, Biz2Credit claims to have provided over $750 million in loans, with nearly half of that generated in the past 14 months. With over 1000 lenders participating on the site, Biz2Credit uses a patented model for matching the expressed needs of small business applicants with the portfolio parameters required by each lender.
According to Romain Dillet of TechCrunch:
Biz2Credit is all about providing a centralized interface to handle everything when it comes to business loans — evaluate your credit rating, explore options and get business loans. The company has applied big data principles for risk analysis of business loans.
With that amount of data, Biz2Credit attracts important institutions as well to get insights. According to the company, the White House President’s Council, the Federal Reserve and the FDA all turn to Biz2Credit to evaluate the current state of business loans.
Biz2Credit also has released an updated version of its BizAnalyzer tool, which draws data from a variety of external sources to prepare a score for the loan applicant in the context of the type of loan requested. The BizAnalyzer tools is now available as an Android or iPhone app, enabling potential borrowers to monitor their ratings and the progress made towards improving those scores. While the mobile platform availability may not add much value to potential borrowers, the analysis tools themselves do assist small businesses to improve their appeal to a diverse group of potential lenders.
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