Popular Bank entered into a partnership with fintech company Biz2Credit in order to expand the bank’s digital presence and streamline its small business loan application process.
Popular Bank will leverage Biz2Credit’s patented analytics and technology platforms to process small business loan requests – between $25,000 to $1 million for commercial term loans and lines of credit, and $100,000 to $1.5 million for commercial real estate secured loans. This technology will enable Popular Bank to provide its small business customers greater and easier access to financing.
Using the new online lending platform on any device, laptop or smartphone, Popular Bank’s small business customers will be able to process funding requests faster and more efficiently. The digital application will enable business owners to apply for credit when and where it is most convenient for them outside of traditional banking hours, including evenings or over the weekend.
“Popular Bank is expanding the bank’s digital presence to radically streamline our small business loan application process. The partnership with Biz2Credit is another stepping stone in our efforts to continually look for new ways to help small businesses grow and achieve their goals. We are proud of our long history in serving small businesses in New York, New Jersey and South Florida, and are committed to offering our customers easy access, speed and security in their transactions”, said Manuel Chinea, chief operating officer of Popular Bank.
“This is an important partnership for small business owners who are seeking capital to grow their companies,” said Biz2Credit CEO and co-founder Rohit Arora. “Small businesses keep growing and like other business owners, they need access to capital in order to pursue their business goals.”
Popular Bank delivers financial services across 51 branches in New York, New Jersey and South Florida and through its online banking platform PopularBank.com.
Founded in 2007, Biz2Credit has arranged more than $2 billion in small business financing and was ranked among the top 200 fast-growing companies on Deloitte’s 2017 Technology Fast 500.
