Bizfi’s platform enables the NYS Restaurant Association to provide its more than 2,000 members access to multiple types of funding including equipment financing, invoice financing, lines of credit, medium term financing, short-term financing, franchise financing and long-term loans from more than 45 partners. The website’s lending partners include OnDeck, (NASDAQ:ONDK), Funding Circle, Kabbage, IMCA Capital, Bluevine, and SmartBiz.
Stephen Sheinbaum, founder of Bizfi, commented:
“Restaurants have unique funding needs and owners often do not have time to spare in order to complete the long application process at traditional lenders. Now restaurants in New York can turn to NYS Restaurant Association, a partner they already know and trust, to gain access to capital which can be delivered quickly. For the NYS Restaurant Association this partnership means Bizfi handles all work associated with the lending activity from application to funding, so the association can focus on serving its members.”
Melissa Autilio Fleischut, president and CEO of the NYS Restaurant Association, added:
“The NYS Restaurant Association prides itself on providing our members with all the resources they need to thrive, and that now includes financing. Some restaurant owners may need capital for inventory or equipment and others may be considering expansion. Bizfi’s co-branded solution provides NYS Restaurant Association members access to the right financing for their needs.”