FAIRFIELD, Conn., Jan. 25, 2021 / PRNewswire / – BitX Funding, the online loan marketplace known for matching small business owners with optimal lenders outside of the bank, has an additional $ 1 million SBA 7a loan available Support for business expansion started amid a banking bottleneck exacerbated by the pandemic and a new round of government-sponsored PPP.
Robert Knoll, Principal of Saber Group Homes, found an optimized and flexible financial solution in BitX Funding after losing time and momentum and trying several times to obtain a loan for the acquisition via the traditional pipeline. « I went through many applications only to find out that all institutions were PPP loans at the time, » said Knoll, whose start-up was outside of their parameters with no history. « BitX was able to help in ways that banks couldn’t, » added Knoll, who found the right lender for his time-sensitive and unique opportunity. Buyers, sellers and BitX worked together to produce the real estate and collateral they needed for successful financing. Instead of falling through the institutional cracks, due to the creative approach and simple process offered by BitX Funding, Saber Group Homes found the financial instrument and the multi-million dollar SBA 7a loan that was the right solution.
« BitX Funding is committed to helping entrepreneurs who need funding to buy or acquire a business, » said Todd Rowe, President of BitX Funding. He added, « Now, as many look for capital to find new opportunities, they come up against a wall created by COVID-19 and banks that are overwhelmed by the paycheck protection program. Banks that are taking on staff training, have become blind through an extensive program that no one saw coming. «
BitX Funding helps small business owners with easy access to SBA 7a loans and connection to many lenders competing for funding in a thriving market. With a transparent and smooth process from approval to lending, entrepreneurs access the funds they need. Rowe adds, « Banks big and small need to spin faster, offer better technology, and employ more people to deal with the tsunami of PPP applications. While this is preoccupying banks, small businesses are being stifled as the SBA 7a loans Facilitate acquisition, provide work Capital and issuing real estate loans will be on hold until the end of the stimulus package. Our lenders see it differently and are up to date. So we encourage entrepreneurs to apply for unlimited growth with BitX Funding. «
Since 2013, BitX Funding has raised over $ 50 million nationwide to support small businesses by breaking down traditional banking barriers. Todd Rowe, President of BitX Funding, is a seasoned non-bank lender in the fintech universe whose corporate initiatives have backed the mission to strengthen the small business economy. The restrictive nature of traditional banking no longer reflects the innovation and adaptation that is now required for a business to grow. BitX Funding is an agile partner for any company looking to accelerate funding and working capital.
By Nancy Klaiman Prentice / The Next Letter
For more information: Todd Rowe203.763.1430 [email protected]
Further information on the product: Website: www.BitXFunding.com