SmartBiz Loans Market Research Report

Company Overview

• Name: SmartBiz Loans

• Mission: To equip every business owner with reliable access to the right capital.

• Founded: On the heels of the Great Recession by a team of technologists, entrepreneurs, and finance experts. Their goal was to streamline access to low-cost funds for businesses.

• Key People:

• Evan Singer, Chief Executive Officer

• Omer Cohen, Chief People Officer

• Brent Looney, Chief Operating Officer

• Joe Schenone, Chief Financial Officer

• Jennifer O'Reilly, Chief Risk Officer

• Louis daRosa, Chief Technology Officer

• Erin Shanley, Vice President, Credit

• Headquarters: 50 Francisco Street, Suite 205, San Francisco, CA 94133

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: SmartBiz is known for being the leading AI-powered financing platform connecting small businesses with SBA, bank term, and flexible financing options.

Products

• SBA Loans

• Description: Offers lower interest and monthly payment loans.

• Key Features: Facilitates SBA 7(a) loans under $350,000, known for lower interest rates, and substantial debt refinancing savings.

• Bank Term Loans

• Description: Provides shorter terms and faster delivery of funds.

• Key Features: Involves a streamlined application process enabling businesses to secure funds more rapidly.

• Line of Credit

• Description: Offers flexible funding with low monthly payments.

• Key Features: Allows businesses to access working capital as needed to manage cash flow effectively.

Recent Developments

• Sunflower Bank, N.A. Partnership (January 20, 2023): SmartBiz partnered with Sunflower Bank to launch a new small business lending platform.

• New CFO Appointment (October 25, 2022): Joe Schenone joined SmartBiz as Chief Financial Officer.

• Partnership with City National Bank of Florida (October 11, 2022): A strategic partnership was announced to enhance small business lending capabilities.

• Awards and Recognition (July 12, 2022): SmartBiz's CEO, Evan Singer, was named a top 25 Fintech CEO of 2022. Additionally, SmartBiz was named the best place to work in Financial Technology in 2022 and was recognized as a top small business lending platform.

• Community Engagement (January 13, 2022): SmartBiz awarded $25,000 in grants to minority-owned small businesses.

• Leadership Changes (November 10, 2021): Omer Cohen was appointed as Chief People Officer.

Conclusion

SmartBiz Loans stands out as a significant player in the financial services sector, focusing on providing accessible funding solutions tailored to the needs of small businesses. Their partnerships with financial institutions and the integration of AI-driven technology in their operations have propelled their growth and service reputation. They continue to innovate and expand their reach in the financial tech space, continually enhancing their product offerings and strategic partnerships.