Biz2Credit has partnered with Puerto Rico's Oriental Bank to support online lending for the bank's commercial clients with a specific focus on small businesses; Biz2Credit and Oriental Bank will develop a digital lending platform for business credit cards, lines of credit, term loans, real estate loans, equipment purchases and SBA loans; the platform is reported to be the first of its kind in Puerto Rico. Source
Biz2Credit has released data from its monthly small business lending index which analyzes 1,000 small business loan applications processed by the multi-lender; the results show that approval rates from banks and institutional lenders continued to increase while approval rates from alternative lenders and credit unions were lower; Biz2Credit's CEO Rohit Arora attributed some of the increases from larger lenders to improvements in technology at banks which is helping them approve a higher percentage of loans with lower default risk. Source
Citigroup has a new small business loan offering offered through a branded partnership with Biz2Credit; the partnership follows new small business offerings from JPMorgan and Wells Fargo; Rohit Arora from Biz2Credit said the partnership has not been widely publicized because it is in very early stages; small business lenders use a website interface managed by Biz2Credit that submits their information to a Citigroup banker for follow up; Arora also said the new small business loan offering is part of the bank's Community Reinvestment Act obligations. Source
On International Women’s Day Rohit Arora, the CEO of Biz2Credit, writes on CNBC.com that the number of women-owned businesses applying...
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[Editor’s note: This is a guest post from Biz2Credit. Biz2Credit is a Bronze Sponsor at LendIt USA 2016, which will take...
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