Daily News: December 28, 2012

Biz2Credit Reaches $800MM in Small Business Funding

Online resource for small business finance Biz2Credit announced that it has reached $800 million in funding for small- and mid-sized businesses since its inception. Further, Biz2Credit said it has expanded at a growth rate of 200% in 2012, increased its global staff to 100.

Additionally, Biz2Credit said it has moved its headquarters to a 5,000 square foot office located at 333 Seventh Avenue, 18th floor, New York, NY, from its previous location at 121 W. 27th St, which was 1,800 square feet.

“Biz2Credit connects borrowers with banks and non-bank lenders on a daily basis through our safe, efficient platform. The demand is out there. Our figures support that fact,” said Rohit Arora, CEO of Biz2Credit. “Although credit has loosened since the darkest days of the Great Recession, it is by no means easy for small business owners to secure capital while banks and other traditional lenders still approve less than 50% of loan applications,” Arora added.