Bizfi expanded its business lending capabilities through a funding partnership with InterNex Capital, an asset-based digital lender. The partnership will allow small to mid-sized businesses in manufacturing, wholesale, trucking, business and consulting services to apply for and access an asset-based revolving line of credit from $250,000 to $5 million through the Bizfi marketplace at www.bizfi.com.
Along with short-term financing, equipment financing, SBA loans, and many other products, small businesses that require $250,000 or more can easily and quickly apply for the revolving line of credit online. In addition to InterNex, the Bizfi platform features 45 lenders providing financial options to small businesses in the United States. Bizfi also acts as a direct lender on the platform.
“Our goal is to provide every small to mid-sized business with the right product. We saw an uptick in manufacturing, transportation, logistics and other sectors that would benefit from having an asset-based lending option, so we found a partner that could meet this demand,” said John Donovan, CEO of Bizfi. “InterNex offers a great product for businesses looking to access a revolving line of credit based on account receivables with a considerably higher financing threshold. They make a welcome addition to the Bizfi marketplace.”
InterNex Capital is a balance sheet lender providing a non-notified revolving solution that enables your business to access cash as needed. The revolving nature allows a flexible repayment structure to provide funds used for daily cash flow needs like payroll, utilities, and inventory and maintenance costs.
“We are pleased to be a strategic financial partner of Bizfi as they expand their financial solutions and we are very excited to provide Revolving Lines of Credit up to $5 million for businesses seeking financing through the Bizfi platform” said Paul DeDomenico, CEO, InterNex Capital. “We share the same vision of providing customers with the optimal financing solutions through an integrated technology platform that can help them develop and grow their businesses."
Bizfi is a premier fintech company combining aggregation, funding and a marketplace on a single platform for small businesses. Founded in 2005, Bizfi and its family of companies have provided in excess of $1.9 billion in financing to more than 33,000 small businesses in a wide variety of industries across the United States.
InterNex Capital is an asset-based digital lender providing revolving lines of credit from $250,000 to $5 million to small and medium sized businesses. Founded by commercial lending and Fin Tech veterans, InterNex is able to optimize underwriting, monitoring, and funding through its integrated technology, data analytics, and credit scoring algorithms.