Fintech ByzFunder Provides Small And Medium-Sized Businesses Fast Financing Alternatives

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Below is our recent interview with Naquita Hendricks, Digital Marketing Director at ByzFunder:

Q: Could you provide our readers with a brief introduction to your company?

A: ByzFunder NY LLC is a leading non-bank financing company (Fintech) that has successfully provided small to medium-sized businesses with fast and convenient financing alternatives since 2018. ByzFunder combines technology and non-traditional credit algorithms to offer attractive pricing and exceptional customer service to a market not captured by traditional banks.

Q: Any highlights on your recent announcement?

A: It is a substantial increase from the $12 million facility in 2020. This is due to our financial performance with September having us exceed $12 million in originations.

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Q: Can you give us more insights into your offering?

A: Alternative business financing, or funding, refers to methods of business financing that typical lenders, such as banks, do not distribute. Alternative business financing allows you to provide funding for your small or medium-sized business without dealing with a bank. While some are similar in nature, methods of alternative business funding do not function in the same way that bank funding functions.

Business funding programs we offer include:

Short-term financing: Short-term financing operates just like a term loan does: You pay back to your lender a specific lump sum of money over time. The primary difference is that the repayment period for short-term financing is typically much shorter than a regular term loan, often three to 18 months.

Merchant cash advances: These are cash advances you pay back with a specified percentage of your daily credit card sales.

Bridge financing: Bridge financing is an interim financing option often used until a long-term option for financing becomes available.

Q: What can we expect from your company in next 6 months? What are your plans?

A: To continue growing and financing businesses throughout the US. Our in-house technology serves as a fast, safe and secure way to get funded. And as our team grows, so will the capacity to finance more companies.

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Q: What is the best thing about your company that people might not know about?

A: ByzFunder has provided over $100 million in total financing to over 3,000 small and medium-sized businesses. We really want to see small businesses succeed, this includes the restaurant industry. Covid hit the US hard, and we are here to help “rescue” the small to medium sized businesses. We service all 50 states.