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Partnership Expands Loan Offerings on Online Marketplace
NEW YORK, NY --(Marketwired - March 22, 2016) - Biz2Credit, a leading online resource for small business finance, today announced that it has partnered with Advantage Funding (www.advantagefund.com), a leading transportation finance firm in the U.S and a provider of equipment financing and leasing solutions for nearly two decades.
Through this partnership, Advantage Funding will utilize the acquisition channels on Biz2Credit's small business lending marketplace, which has delivered more than $1.3 billion in financing to thousands of small and mid-sized companies, to provide finance for commercial vehicles to end users. Advantage Funding will back the loans originated through Biz2Credit.
In addition, Advantage Funding will gain access to a full range of technology and business solutions, including data and risk analytics through Biz2Credit's patented BizAnalyzer™ Score, which enables lenders to fund transactions with an increased level of confidence.
"We are always looking for ways to expand the services that we offer to our clients," said Al Damiani, CEO of Advantage. "Through our arrangement with Biz2Credit, we can provide borrowers with easier access to capital than ever before, while mitigating risk and offering competitive pricing."
The agreement is the first-ever equipment-backed international partnership in the small business marketplace lending industry, and Biz2Credit's initial foray into this asset-based lending vertical.
"This landmark partnership enables small business owners to secure capital quickly while broadening our network of asset-based loan products and institutional lenders," said Rohit Arora, CEO of Biz2Credit. "We are excited to expand our footprint in the small business finance industry."
Financing on Biz2Credit's platform ranges from $25,000 to $5 million and can be coordinated in as little as 24 hours for working capital, commercial real estate and other applications.
Advantage Funding is a subsidiary of Macquarie Group Limited (www.macquarie.com), a global provider of investment banking and financial services.
For more information on Biz2Credit's small business lending marketplace, please visit https://www.biz2credit.com/business-loan/small-business-loans.
Macquarie Group Limited is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in 28 countries and employs 13,700 people. As of December 31, 2015, assets under management totaled approximately $354 billion.
Macquarie's Corporate and Asset Finance (CAF) Group provides tailored finance and asset management solutions. As of December 31, 2015 CAF had over $28 billion globally in loans and leases under management across a range of sectors including motor vehicles, commercial aircraft, mining equipment, technology equipment and corporate and real estate lending.
About Advantage Funding
Advantage Funding, based in Lake Success, New York, founded in 1997, is dedicated to providing equipment financing and leasing solutions for ground transportation to support vehicle dealers, distributors, manufacturers and end users nationwide.
Founded in 2007, Biz2Credit has arranged more than $1.3 billion in small business financing for working capital, commercial real estate and other applications. Using its proprietary technology, Biz2Credit matches borrowers to financial institutions based on each company's unique profile, in a safe, efficient and price-transparent environment. Visit http://www.biz2credit.com, follow on Twitter @Biz2Credit, and join on Facebook at http://www.facebook.com/biz2credit.
John Mooney (for Biz2Credit)