Bizcap moves at speed and scale to fund small businesses
Bizcap is an Australian Business lender that prides itself on supporting businesses that need it the most, including those with low credit scores who are typically turned down by other lenders. Bizcap’s extensive underwriting experience and smart use of technology help the business to carefully manage risk and ensure lending is sustainable for itself and its customers.
The founders of Bizcap, Zalman Blachman and Abraham White, worked in this area of finance in the US and realised a gap in the Australian market where SMEs struggled to access capital with speed, ease, and open-mindedness to their situation.
“We believe that Australian small businesses should have fast access to the capital they need to grow, even if they don’t have the ‘perfect credit score’ or fit the mould,” said Zalman Blachman. “We’re able to lend to these businesses by taking a more systematic approach to assessing credit and risk and looking at more than just their credit history.”
Salesforce helps Bizcap manage its lending process at scale and speed. It also supports the rapid growth of the business’ broker network.
Delivering funding in three-hours or less
Bizcap launched in June 2019 and within months it found its manual processes pushed to the limits. It needed to streamline the end-to-end lending process and wanted a CRM to help move customers through the pipeline.
Rebecca del Rio, Head of Marketing and Development, was thankful that Bizcap had chosen Salesforce. She had used it in a previous role and knew that, with some customisation, it would help Bizcap to automate and scale. “We have ambitious goals and know it would not be possible to get where we want to go without the right technology stack; Salesforce has been a key platform to support our growth.”
Bizcap started with just Sales Cloud. From there, they have added multiple apps via the App Exchange such as FormStack and Docusign. They also built their own API along with a partner portal to allow brokers and aggregators to plug directly into their systems and increase their deal flow tremendously.
The entire lending process with Bizcap can be done within just three hours. According to Bizcap, this is faster than any other Australian non-bank lender, ultimately helping small businesses access funds more quickly. As loans are paid back, Bizcap utilises data pushed from their loan platform into Pardot to engage with customers.
Growing broker network by more than 300%
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