Note from the Publisher: In a sign that online lending networks are gaining even more traction, small business lender BizFi has announced a 25% increase in loan origination year over year from Q2 2105 to Q2 2016. There is definitely more adoption by SMBs of online platforms to run their businesses. In fact yesterday, we featured a Finnish firm – Zervant – which targets European SMBs with invoicing, sales tracking, etc.
“Bizfi (www.bizfi.com), the premier fintech company with a platform that combines aggregation, funding and a marketplace for small businesses, announced an increase of 25 percent in year-over-year small business lending originations in the second quarter of 2016. This totals in excess of $144 million, compared to $116 million in Q2 2015. The company either directly originated financing or facilitated financing through its marketplace for more than 3,580 small businesses.
Small businesses are going to Bizfi.com to access financing directly from Bizfi or the dozens of partners that participate in its marketplace. Several companies that serve small businesses have white-labeled the Bizfi platform in order to provide these businesses with access to SMB financing. In March of this year, Bizfi announced a partnership with Western Independent Bankers (WIB), a trade association with community and regional banks across the Western United States. In July, Bizfi forged a partnership with the National Directory of Registered Tax Return Preparers & Professionals (PTIN). These partnerships provide hundreds of thousands of small business owners across the country with access to financing through the Bizfi platform.”