CPA.com today announced a marketing partnership with Biz2Credit, a leading small business lending marketplace. Biz2Credit’s cloud-based platform gives entrepreneurs and small business owners access to a network of more than 1,300 prescreened lenders. Financing, which ranges from $5,000 to $5 million, can be arranged in as little as 24 hours for lines of credit, expansion loans, working capital and other uses.
“Biz2Credit is transforming how small and midsize businesses obtain capital,” observed Erik Asgeirsson, President and CEO of CPA.com, a subsidiary of the American Institute of CPAs. “We know CPAs play a critical role in financing decisions for their clients. Through our partnership with Biz2Credit, CPA firms will be able to provide even more support to clients and leverage the service for their own financing needs, too.”
While small business financing has eased since the recession, only 34 percent of small businesses were able to access all the funding they needed, according to a National Federation of Independent Business study. Since Biz2Credit draws on such a large pool of potential lenders, it increases the odds of success and lower rates for qualified applicants.
“Our relationship with CPA.com recognizes that CPAs are key partners for small businesses and startups, and that they play a significant role in lending decisions,” remarked Rohit Arora, Co-founder and CEO of Biz2Credit. “The average small business owner spends 33 hours preparing and processing a loan application, and we think that’s time better spent building the business. Our application takes four minutes or less to fill out using a smartphone, tablet or laptop.”
Biz2Credit will become part of CPA.com’s Partner Solutions, a lineup of services that CPA firms can offer clients seeking business efficiency, flexibility and better financial insight into their operations. For CPAs, these services can lead to new lines of business outside the traditional tax and audit areas. Biz2Credit noted its use of state-of-the-art encryption and other cybersecurity best practices to keep data safe.