Biz2Credit and AccountantsWorld are partnering to give CPAs and their small business clients access to Biz2Credit’s online lending platform directly through AccountantsWorld’s cloud accounting software.
Biz2Credit’s online lending platform gives small business owners access to a network of 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.
“Accountants play a crucial and unique role in helping their small-business clients make sound financial decisions,” said Dr. Chandra Bhansali, co-founder and CEO of AccountantsWorld. “Through our partnership with Biz2Credit, CPAs and other accounting firms will be able to provide greater value to their clients. This also enables them to utilize the platform for their own funding needs.”
While small business lending has improved dramatically since the so-called “credit crunch” that followed the Great Recession, it can still be challenging to secure financing. As of December 2017, big banks approve a little more than one-quarter of the loan requests they receive, and smaller banks grant a little less than half of their applications. Platforms such as Biz2Credit are able to connect small business borrowers with potential lenders who match their lending parameters, thereby increasing the chances that qualified applicants will secure funding at agreeable rates and terms.
“Accountants are important partners for small businesses and startups as trusted advisors play a significant role in lending decisions,” said Rohit Arora, co-founder and CEO of Biz2Credit. “The clients of accountants who specialize in small businesses – as well as the accountants themselves – will be able to benefit from our partnership with AccountantsWorld to address their funding needs.”
Arora added: “The average small business owner spends 33 hours preparing and processing a loan application. Their time would be better spent running their companies. An entrepreneur can complete a loan application in four minutes or less by a smart phone, tablet or laptop and connecting with Biz2Credit.”
Biz2Credit uses state-of-the-art encryption and other cybersecurity best practices to keep data safe.