Small business lending platform Bizfi enjoyed healthy growth in the second quarter.
Year-over-year originations increased 25 percent to more than $144 million. More than 3,580 small businesses received financing either directly from Bizfi or through its marketplace.
Several factors have helped fuel that growth. Companies working with small businesses have white labeled Bizfi’s platform. Bizfi has also partnered with several professional organizations to further grow its business.
“Partnering with organizations provides Bizfi with the opportunity to fund more small businesses around the United States, ones that may have otherwise been turned down by more traditional options,” Bizfi founder Stephen Sheinbaum said. “We will continue to forge these white label partnerships with companies that have existing small business relationships, with the goal of solidifying the Bizfi brand and expanding our reach.”