Associated tags: Small business, Biz2credit, Bank, Bureau of Labor Statistics, Credit, Jobs, Transport, Unemployment, SBA
Locations: CALIFORNIA, TEXAS, GEORGIA, SOUTH AMERICA, AMERICAS, SAN FRANCISCO, WASHINGTON, FLORIDA, COLORADO, NEW JERSEY, NY, US, SOUTH CAROLINA, JOBS, NEW YORK, UNITED STATES, NORTH AMERICA
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Cryptocurrency NEW YORK, April 04, 2024 (GLOBE NEWSWIRE) -- Biz2Credit and subsidiary software platform Biz2X have been named to the Financial Times’ 2024 list of “The Americas’ Fastest Growing Companies” once again.
Key Points:
- NEW YORK, April 04, 2024 (GLOBE NEWSWIRE) -- Biz2Credit and subsidiary software platform Biz2X have been named to the Financial Times’ 2024 list of “The Americas’ Fastest Growing Companies” once again.
- “The Americas’ Fastest Growing Companies” 2024 ranking identifies companies with the strongest revenue growth between the years 2019 and 2022.
- Biz2Credit and Biz2X together reported an overall revenue growth rate of 218% from 2019 to 2022, which ranks in the Top 200 among the 500 companies on the list.
- Based on the results of the study, Biz2Credit and Biz2X are ecstatic to be recognized on the Financial Times list of The Americas’ Fastest Growing Companies 2024 and as a finalist in the Banking Tech Awards in the Best As-a-Service-Solution, respectively.
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Pharmaceutical industry NEW YORK, March 19, 2024 (GLOBE NEWSWIRE) -- Although there are roughly 14 million women-owned businesses in the U.S. as of early 2024, many of these companies remain underserved financially by traditional lenders, including banks. To address this, policymakers and advocacy organizations have continued the effort to provide expanded access to capital for women-owned businesses.
Key Points:
- To address this, policymakers and advocacy organizations have continued the effort to provide expanded access to capital for women-owned businesses.
- On Tuesday, March 26, Biz2Credit will host an online forum at 2 p.m. (EDT) with U.S. Rep. Young Kim (R, CA-40) and U.S. Rep. Brittany Pettersen (D, CO-07).
- Policies from Congress and regulations from federal agencies should make entrepreneurs’ lives easier, not harder,” said Rep. Young Kim.
- “I’m excited to join my colleague, Representative Kim, and Biz2Credit for this forum to highlight issues facing women-led businesses,” she added.
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FTC Biz2Credit, an award-winning, minority-owned fintech that since 2007 has arranged more than $8 billion in small business financing, today issued the following statement about its settlement with the U.S. Federal Trade Commission:
Key Points:
- Biz2Credit, an award-winning, minority-owned fintech that since 2007 has arranged more than $8 billion in small business financing, today issued the following statement about its settlement with the U.S. Federal Trade Commission:
Consistent with its longstanding mission, Biz2Credit focused on funding traditionally underserved small businesses during the Paycheck Protection Program (PPP).
- Biz2Credit developed state-of-the-art systems and controls to detect fraud and ensure program eligibility, closely adhering to PPP program requirements.
- Commenting on its decision to settle with the FTC, the company stated, “We are disappointed that the FTC took the positions that it did.
- In short, Biz2Credit agreed to this settlement so it can continue to fully concentrate on the important work of financing small underserved businesses in these uncertain times.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20240318040325/en/
NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- In its annual analysis of 53,000 companies in 2023, the Biz2Credit Women-Owned Business Study found that earnings for women-owned small businesses remained steady while earnings for men-owned businesses decreased by 3%.
Key Points:
- NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- In its annual analysis of 53,000 companies in 2023, the Biz2Credit Women-Owned Business Study found that earnings for women-owned small businesses remained steady while earnings for men-owned businesses decreased by 3%.
- A year-over-year (YoY) comparison showed a 15.5% increase in annual revenue with a higher funding rate (35%) for women-owned businesses, in comparison to men-owned businesses (29%).
- The Biz2Credit Women-Owned Business Study examined financial indicators including annual revenue, operating expenses, age of business, and credit scores of funding applicants.
- The Average Age of Business (in months) for women-owned businesses increased 11 months YoY but remains 10 months lower than men-owned businesses in 2023.
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Growth NEW YORK, Jan. 19, 2024 (GLOBE NEWSWIRE) -- Biz2Credit is proud to announce that it earned multiple recognitions for 2023, including Inc.’s “Best in Business Awards,” The Financial Technology Report’s “Top 25 Women Leaders in Financial Technology of 2023,” and Deloitte’s “Technology Fast 500 Awards.”
Key Points:
- NEW YORK, Jan. 19, 2024 (GLOBE NEWSWIRE) -- Biz2Credit is proud to announce that it earned multiple recognitions for 2023, including Inc.’s “Best in Business Awards,” The Financial Technology Report’s “Top 25 Women Leaders in Financial Technology of 2023,” and Deloitte’s “Technology Fast 500 Awards.”
Biz2Credit is an honoree of Inc.’s Best in Business Awards , which recognize companies that want to do something about the problems of the world, including injustices and inequities.
- Biz2Credit was honored in the Financial Services category for “Business Products & Services.” Since its inception in 2007, Biz2Credit has helped thousands of companies – many of them women-owned or minority-owned – to successfully secure small business financing for working capital and growth.
- Biz2Credit was also named to Inc.’s 169 Companies Making an Outsized Impact in the Northeast list and was ranked No.
- Not only is Biz2Credit/Biz2X and its technology winning awards for helping small business secure financing, but its leadership is also being recognized.
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Tuesday, December 12, 2023
NEW YORK, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks ($10 billion+ in assets) stalled for the first time since June of this year, staying at 13% in November 2023, according to the latest Biz2Credit Small Business Lending Index™ released today.
Key Points:
- NEW YORK, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks ($10 billion+ in assets) stalled for the first time since June of this year, staying at 13% in November 2023, according to the latest Biz2Credit Small Business Lending Index™ released today.
- Small banks approval percentages continue to rise towards the end of 2023, going from 19.5% in October to 19.7% in November, marking an increase every month since June 2023.
- “As we close out this year, it remains a positive that small banks have started to become more of an option for business owners searching for capital,” said Arora.
- To determine its Small Business Lending Index, Biz2Credit analyzed loan requests from companies in operation for more than two years with credit scores above 680.
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Tuesday, December 5, 2023
In New York, overburdensome regulations, high taxes, and the labor shortage make it extremely difficult for small businesses to survive,” said Congressman Marc Molinaro (R, NY-19), who serves on the House Small Businesses Committee.
Key Points:
- In New York, overburdensome regulations, high taxes, and the labor shortage make it extremely difficult for small businesses to survive,” said Congressman Marc Molinaro (R, NY-19), who serves on the House Small Businesses Committee.
- “It shouldn’t have to be this way.”
“We’re so grateful for our small businesses that keep the economy going.
- It’s a big priority for us to help our small business owners get things done,” said Congressman Greg Landsman (D, OH-01), who is also a member of the House Small Businesses Committee.
- “Our research also looks at emerging trends happening across small businesses, as we examine the data from January – June 2023.
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Thursday, November 30, 2023
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Renewable energy This Special Event will coincide with the upcoming Biz2Credit 2023 Top Small Business Industries Report and give business owners a chance to hear from Congressmen Marc Molinaro (R, NY-19) and Greg Landsman (D, OH-01), both members of the House Small Business Committee.
Key Points:
- This Special Event will coincide with the upcoming Biz2Credit 2023 Top Small Business Industries Report and give business owners a chance to hear from Congressmen Marc Molinaro (R, NY-19) and Greg Landsman (D, OH-01), both members of the House Small Business Committee.
- “We are honored to have two members of the House Small Business Committee give their insights into what Washington is doing to help small businesses survive and thrive during these challenging times,” said Ramit Arora, president of Biz2Credit.
- With over 33 million small businesses in the U.S. across a wide variety of industries, policymakers have made expanding small business access to capital a priority.
- It’s a big priority for us to help our small business owners get things done.”
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Wednesday, November 8, 2023
NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks ($10 billion+ in assets) decreased again from 13.1% in September to 13% in October, according to the latest Biz2Credit Small Business Lending Index™ released today.
Key Points:
- NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks ($10 billion+ in assets) decreased again from 13.1% in September to 13% in October, according to the latest Biz2Credit Small Business Lending Index™ released today.
- As expected, acquiring a small business loan from a big bank has become increasingly more difficult with every passing month,” said Rohit Arora, CEO of Biz2Credit and one of the nation’s leading experts in small business finance.
- “Small business owners are having better success with smaller banks and/or alternative lenders.”
After a slow start in 2023, small banks approval percentages rose from 19.3% in September to 19.5% in October, marking an increase every month since June 2023.
- To determine its Small Business Lending Index, Biz2Credit analyzed loan requests from companies in operation for more than two years with credit scores above 680.
Retrieved on:
Tuesday, October 10, 2023
Big bank lending to small businesses has dipped every month since June 2022.
Key Points:
- Big bank lending to small businesses has dipped every month since June 2022.
- “Securing a small business loan from a big bank is certainly challenging, and I don’t see that changing much in the coming months,” said Rohit Arora, CEO of Biz2Credit and one of the nation’s leading experts in small business finance.
- “Your chances of obtaining small business financing from a regional or community bank are much higher.”
“Many big banks are restructuring.
- To determine its Small Business Lending Index, Biz2Credit analyzed loan requests from companies in operation for more than two years with credit scores above 680.
