NAFCU Services Corp. has added online small business platform firm Biz2Credit to its Preferred Partners program.
The New York-based Biz2Credit matches small businesses with lending institutions based on their business profile and preferences. The company’s network consists of 1.6 million users and more than 450 lenders, credit rating agencies and small business service providers, according to NAFCU Services.
“Small businesses have a tremendous need for capital today, given that large banks have largely stopped providing loans to that segment,” said Rohit Arora, CEO of Biz2Credit. “We believe that credit unions can play a major role in providing this financing and accelerating our economic recovery at the same time.”
NAFCU Services President David Frankil said the new alliance will help credit unions take their business lending efforts to the next step.
“Many credit unions are willing and able to make member business loans, but may not currently have the infrastructure required to ensure a sufficient quantity of pre-screened potential lending opportunities,” Frankil said. “Biz2credit.com is the perfect solution – a credit union can very precisely set parameters and then quickly see pre-qualified deal flow.”
NAFCU Services said it now offers 30 Preferred Partner participants to the credit union community.