Biz2Credit Partners Launches YouTube Channel
Small Business Owners Denied Credit by Banks Describe Their Experiences in Searching for Loans and Receiving Funding via Biz2Credit's Online Matching System.
- New York, NY (1888PressRelease) November 23, 2010 - Biz2Credit (www.biz2credit.com), the #1 credit resource for small businesses, has launched a YouTube channel that showcases entrepreneurs who have secured capital through Biz2Credit's innovative online loan-matching system.
Testimonials come from numerous small business owners in a range of industries, including healthcare, telecommunications, retail, entertainment, and hospitality. Entrepreneurs whose experiences are detailed on the new Biz2Credit YouTube channel include:
David Kalsang, Malamal, Inc., New York City
As an immigrant running a start-up, David Kalsang had difficulty securing capital for his cell phone distribution company, Malamal, Inc. Frustrated with the application and approval process at a major bank, Kalsang approached Biz2Credit to fund expansion of his operation in India, where there is growing demand for 3G equipment.
Biz2credit helped Kalsang arrange a $50,000 line of credit from Sovereign Bank and an additional $250,000 in funding from Seedco Financial. With the infusion of capital, he has been able to travel to India for business meetings, expand his office, and hire three new sales people. Biz2Credit also connected him with two key distributors in India. The result: Malamal tripled its growth during the past 12 months. To view David Kalsang's video, visit http://www.youtube.com/watch?v=ckzzuiphjPk.
Dr. Eduardo Pignanelli, Clinica Modelo de Especialistas, New York City
"It used to be that a doctor would have no problem getting a business loan," says Dr. Eduardo Pignanelli, who founded Clinica Modelo de Especialistas nearly 20 years ago.
Dr. Pignanelli's medical practice provides care for the Latino community in the Washington Heights section of Manhattan. With annual revenues approaching $7 million and needing capital to build an expanded facility with state-of-the art equipment, he approached Biz2Credit for funding. The physician was able to secure $4 million in financing, and reduce his cost of working capital by four percentage points. The result: Dr. Pignanelli's practice has opened a new office, created 30 new jobs, and continues to grow. To view the video, visit http://www.youtube.com/watch?v=cxbiQxhf5mE.
Nisha Khanna, Sweet & Sassy, Old Bridge, NJ
Although she already owned a successful business and had an excellent credit score, a solid business plan and documentation on the success of Sweet & Sassy franchises, Nisha Khanna still had difficulty securing a business loan. Numerous banks considered her a start-up, and start-ups simply weren't getting $300,000 in funding at the end of 2009.
Nisha discovered Biz2Credit and was eventually matched with RomAsia Bank, a locally based bank she never would have thought to approach. RomAsia granted her its first ever SBA loan. The result: The performance of the Sweet & Sassy in Old Bridge, NJ, has exceeded expectations and quickly become one of the most prosperous franchises in the state. To view Nisha Khanna's video, visit http://www.youtube.com/watch?v=uuMUS0kqTkg.
"While credit has eased since the dark days of 2008-09, small companies still are too often encounter difficulty obtaining funding for their business operations," said Rohit Arora, CEO and co-founder of Biz2Credit. "Biz2Credit does more than just match borrowers and lenders; it can act as a surrogate CFO for small businesses. We do this by providing guidance on how to improve business plans, raise credit scores, and lower the cost of capital, thereby increasing their chances of securing capital and operating more efficiently."
About Biz2Credit
Founded in 2007, Biz2Credit (www.biz2credit.com) connects small business owners with lenders and other service providers. Biz2Credit also fills the role of CFO for companies whose founders lack the time or the skill set to handle financial issues. The entrepreneurs are matched with credit solutions based on online profiles that can be completed in less than five minutes in a safe, efficient, price-transparent environment. Having facilitated nearly $400 million in funding for small businesses throughout the U.S., Biz2Credit was named the top financing resource by Entrepreneur magazine. Its network consists of more than 30,000 users and 150+ lenders, as well as credit rating agencies such as Dun & Bradstreet, and small business service providers including Dell. Biz2Credit was ranked among 100 top emerging companies in the U.S. by KPMG in 2008.
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