Biz2Credit announced on Tuesday it has formed a new partnership with U.S. banking group Popular Bank to expand on the bank’s digital presence and help streamline its small business loan application process. The duo reported that through this new partnership Popular Bank will leverage Biz2Credit’s analytics and technology platform for the processing of the loans, which can range between $25,000 and $1 million for commercial term loans and lines of credit; and $100,000 and $1.5 million for commercial real estate secured loans.
Popular Bank’s small business customers will be able to process funding requests faster and more efficiently through the new lending platform and the digital application will enable business owners to apply for credit when and wherein is most convenient. Speaking about the partnership, Manuel Chinea, COO of Popular Bank, stated:
“Popular Bank is expanding the bank’s digital presence to radically streamline our small business loan application process. The partnership with Biz2Credit is another stepping stone in our efforts to continually look for new ways to help small businesses grow and achieve their goals. We are proud of our long history in serving small businesses in New York, New Jersey and South Florida, and are committed to offering our customers easy access, speed and security in their transactions.”
Biz2Credit’s CEO and Co-Founder Rohit Arora, went on to add:
“This is an important partnership for small business owners who are seeking capital to grow their companies. Small businesses keep growing and like other business owners, they need access to capital in order to pursue their business goals.”