CPA.com announced on Wednesday a marketing partnership withBiz2Credit - the small business lending marketplace - which will see Biz2's cloud-based platform give entrepreneurs and small business owners access to a network of more than 1,300 prescreened lenders.
Financing, which ranges from $5,000 to $5 million, will be arranged in as little as 24 hours for lines of credit, expansion loans, working capital and other uses.
“Biz2Credit is transforming how small and midsize businesses obtain capital,” saidErik Asgeirsson, president and CEO of CPA.com, in a statement. “We know CPAs play a critical role in financing decisions for their clients. Through our partnership with Biz2Credit, CPA firms will be able to provide even more support to clients and leverage the service for their own financing needs, too.”
According to a National Federation of Independent Business study, only 34 percent of small businesses were able to access all the funding they needed. With Biz2Credit drawing on a large pool of potential lenders, it will increase the odds of success and lower rates for qualified applicants.
“Our relationship with CPA.com recognizes that CPAs are key partners for small businesses and startups, and that they play a significant role in lending decisions,” stated Rohit Arora, co-founder and CEO of Biz2Credit. “The average small business owner spends 33 hours preparing and processing a loan application, and we think that’s time better spent building the business. Our application takes four minutes or less to fill out using a smartphone, tablet or laptop.”
Biz2Credit will become part of CPA.com’sPartner Solutions, a lineup of services that CPA firms can offer clients seeking business efficiency, flexibility and better financial insight into their operations. For CPAs, these services can lead to new lines of business outside the traditional tax and audit areas
For more information, head to CPA.com's site here.