Credibly Deploys $500M in Capital & Partners with BizFi

Credibly, a leading findata small and medium-sized business lending platform founded in 2010, has crossed the $500 million milestone in capital deployed to tens of thousands of SMBs across the U.S. In addition, Credibly also announced that it is now servicing BizFi’s $250 million portfolio and 5,200 merchants; the$500M milestone is separate from the $250M portfolio the company is now servicing from BizFi.

Since 2005, BizFi has been a leading capital provider to small businesses and in 2016 was reportedly one of nation’s top three largest originators of merchant cash advances, but this past year the platform reportedly suffered undisclosed problems after last year’s “cooled” market, recently issuing remaining employees a 90 day warning, according to

“Acquiring the servicing rights of BizFi’s portfolio is a testament to our data-driven approach and laser focus on the working capital needs of small businesses,” averred Credibly’s Founder and Co-Chief Executive Officer Ryan Rosett. “We welcome our new customers and are committed to ensuring that their growth capital needs are met.”

In addition to servicing the BizFi portfolio, Credibly is working with both sales partners and merchants to provide additional working capital to the businesses in BizFi’s portfolio. Credibly’s data-science team has the ability to analyze BizFi’s twelve years of data and remittance history allows Credibly to better service both the BizFi and Credibly portfolios. Further, BizFi’s data enhances Credibly’s risk management, scoring models, and portfolio management tools.

The Small Business Association (SBA) estimates that traditional banks still reject approximately 90 percent of SMB loan applications. Since 2010, Credibly has emerged as a proven platform that leverages data science and analytics to provide SMBs with a simple and intuitive way to access critical working capital.  The company addresses the fundamental capital needs of SMB owners across a broad credit spectrum and through every stage of a business’s life cycle.

Register Now to Attend
Sponsored Links by DQ Promote



Send this to a friend