Overview
Founded in 2007, Biz2Credit is an online small business platform that allows business owners to access lenders. The online platform matches small businesses with lenders based on the quality of the business’ profile and the lender’s preferences—all in a simple and secure environment. Credit unions save time, money, and boost revenue with the innovative solution for small business lending deal sourcing from Biz2Credit.
Solutions & Benefits
- Biz2Credit
has access to over 8 million small business customers. Credit unions need a robust pipeline of qualified
prospects that meet their unique lending criteria. Biz2Credit has
partnered with large companies in the small business space—including
Intuit, Paychex, Equifax, Dun & Bradstreet, and BizBuySell—to
exclusively provide small business loan services. Biz2Credit can provide
screening technology that will allow each credit union to set up filters
that specify the loan applications they would like to ideally service
(e.g. location of the small business, size of the loan, credit score
ranges, and hundreds of other variables that can be easily preset by a
loan officer at a credit union).
- Biz2Credit’s DocVault solution
is a simple & secure document management system designed specifically
for the small business loan space.
Biz2Credit has made it easy for loan officers at credit unions to collate
documents and data within one single repository with document tagging and
sharing functionality to efficiently store, collect, and share documents.
- Biz2Credit’s BizAnalyzer
product analyzes a businesses’ financial health.
Small business owners need a quick way to assess their financial health
and ability to raise financing. BizAnalyzer allows small businesses to do
that with a simple to read score and recommendation system. It also
enables credit unions to access key analytical information in assessing
the credit worthiness of the business---and even gives the ability to
credit unions to recommend other financial products to small business
owners to improve their business’ financial health.
- Biz2Credit validates the
financial data of a business in the loan application. Because
Biz2Credit is integrated into a suite of software tools used by small
business owners to manage their business’ finances—including products like
Quickbooks and PayChex—our data validation of the inputs in a loan
application are unmatched. Biz2Credit can pull information from software providers
and input it directly into a loan application. With our integration into
the IRS, Biz2Credit can now provide digital 4506T verification—making it
even faster for loan officers to validate a business’ financial health.
- Biz2Credit’s BizSecure
solutions help credit unions set up a credit monitoring facility of their
loan portfolio. Biz2Credit can pull the UCC lien and
other state data on the small business portfolio in real time, as well as
sync up with IRS for ongoing tax transcript verification.
- Other Biz2Credit products
that can help improve the profitability of credit unions. Biz2Credit also can help improve the profitability of the
loan portfolio of credit unions by providing risk management solutions.
Credit unions can integrate their rejected loan applications directly into
Biz2Credit—allowing the lender market exchange on Biz2Credit to bid and
service members that might not fit the credit unions lending criteria but
still allows the credit union to provide great
service to their members and hold on to the small businesses’ deposits.
NAFCU Member-only Benefits
NAFCU member credit
unions receive a free consultation and discounted pilot program to quickly
assess compatibility and success of Biz2Credit for your credit union. In
addition, NAFCU member credit unions receive free training on all Biz2Credit
solutions and receive the BizAnalyzer tool free for all of your credit union’s
SMB members to help them determine their business’s financial health.