Real Results

Biz2Credit Overcomes "Credit Crunch," Establishes Itself as Go-To Online Source for Small Business Lending

 

Issue

Small business lending is important to the overall economy because smaller companies are responsible for creating most of America’s job growth. However, during the so-called "Great Recession" of 2008-09 and the ensuing "Credit Crunch" that lasted even longer (as banks were reticent to make loans to entrepreneurs). The challenge was to position Biz2Credit as the #1 online resource for small business lending -- a crowded space -- and to raise the company's profile among entrepreneurs seeking funding from banks and other financial institutions.

Insight

Biz2Credit connects borrowers and lenders via its online platform, which includes 1.6 million small business owners and 1,300+ financial institutions. Since its inception in 2007, Biz2Credit has arranged for more than $1.2 billion in startup and expansion loans, as well as business lines of credit. The company is widely recognized the leading online small business lending resource.

Over The Moon established Biz2Credit CEO Rohit Arora as a “go to” expert on the topic of small business lending. This thought leadership program includes columns written regularly for Inc., Fox Business Small Business Center, and, most recently, Forbes. Arora is regarded as having his "finger on the pulse of small business growth." He is often quoted by outlets such as The Wall St. Journal, New York Times, American Banker, Crain's New York Business, and numerous trade magazines.

Biz2Credit’s Small Business Lending Index – a monthly report that began in 2011 – examines trends in small business lending based on data submitted by more than 1,000 small business owners. It has become a primary source for many national business reporters. The Index has been featured in Forbes, Yahoo Finance, Bloomberg BusinessWeek, Money, USA Today, New York Post, and Reuters, Daily News, among others. Building upon the success of this research, Over The Moon also gained national attention for Biz2Credit's Top 25 Small Business Cities list, State of Women in Small Business study and Latino Lending study.

Over the Moon produces Biz2Credit's monthly newsletter, which also builds the “brand voice” for the company. It includes columns, research findings, media placements and client case studies. The firm also updates Biz2Credit's Facebook and Twitter pages and established an active blogging program in which experts drive SEO for the site by writing about small business finance, marketing, account issues, and other issues related to small business lending. Further, Over The Moon coordinated well attended webinars and produced eBooks to extend the reach of those webinars.

Rohit Arora also makes numerous appearances at panel discussions and conferences such as American Banker’s Small Business Banking Conference, The New York Times Small Business Summit, Money 20/20, National Association of Federal Credit Unions (NAFCU)’s Small Business Lending Conference, the American Asian/Asian Research Institute’s panel on small business growth, the Manhattan Chamber of Commerce's 2015 Funding Your Passion and Financing Your Business conference, among others.

Impact

In 2012, Biz2Credit's revenues grew 200% over the previous year's figures, and its network of lenders tripled from just 400 to 1,300+. By 2015, more than 5,000 entrepreneurs register on the platform each month and has now arranged $1.2 billion in small business funding. In 2012, Rohit Arora was invited to the White House to meet with SBA Administrator Karen Mills, members of the Federal Reserve and the President's Council of Economic Advisors to discuss strategies to kick-start small business lending. In 2011, co-founders Rohit and Ramit Arora, were honored by Crain’s New York Business as the Top Entrepreneurs for 2011 in New York City. The company was named to Crain's Fast 50 in 2014.