MicroBilt and CL Verify to Merge; Announce New CEO and Investment

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MicroBilt and CL Verify announce a merger under the name Microbilt. MicroBilt and CL Verify are leaders in providing data solutions for verification, credit and collections. The two companies share a common focus, complimentary offerings and established histories of serving Main Street businesses and the alternative lending market. Wink Price to lead MicroBilt as its new CEO.

The need for new and alternative data sets for verification, credit, collections and screening is expanding in every segment of the market.

MicroBilt Corporation, a leader in risk management information for small and medium-sized businesses, and CL Verify LLC, the industry leading real time credit bureau, announce today that the two companies will combine under the name MicroBilt Corporation.

The merger combines two growing entrepreneurial companies with complementary businesses and a shared spirit for innovation. Both companies are leaders in providing data solutions for verification, credit and collections, with each company serving different market segments. A combination of MicroBilt and CL Verify will result in significant growth opportunities from leveraging the companies’ combined data sets and analytic technologies.

Industry veteran, William "Wink" Price, will lead MicroBilt as its new CEO. Mr. Price is the former CEO of CBCInnovis, a leading provider of risk management solutions to customers in the business, government and not-for-profit sectors, which Mr. Price led for over 25 years. Mr. Price will join the Board of Directors and make an investment in MicroBilt Corporation.

“I am very excited to lead this combination of MicroBilt and CL Verify” said Price, “Both companies are true innovators in the business of risk management. Their respective data sets and tools are a great complement to each other and with little overlap in their respective businesses, there will be an immediate opportunity to achieve significant new growth.”

This merger follows MicroBilt’s acquisition of Payment Reporting Builds Credit (PRBC) and relaunch of the PRBC® Consumer Report with FICO® Expansion® Score early this year. “The need for new and alternative data sets for verification, credit, collections and screening is expanding in every segment of the market.” said Price, “MicroBilt and CL Verify have built great businesses that will provide the foundation for a great new company.”

About MicroBilt
MicroBilt is the leader in serving small businesses with data and tools that they need to manage business risk and make informed lending and hiring decisions. MicroBilt offers the small business owner simple, cost-effective solutions for fraud prevention, consumer financing, debt collection, and background screening. With its PRBC® Consumer Report with the FICO® Expansion® Score, MicroBilt is the leading provider of alternative credit data to businesses that want to offer credit and other financial services to the over 100 million underserved consumers in the United States. For more information, visit http://www.MicroBilt.com.

About CL Verify LLC
CL Verify™ LLC is the leading FCRA compliant real time credit bureau providing a fully integrated suite of decision support solutions. The company’s unique and proprietary consumer data provides clients with the most predictive resources for identifying, managing and optimizing the entire consumer credit life cycle. CL Verify provides access to over 3 billion debit account records, nearly 30 billion pieces of demographic and public record data and nearly 100 million unique consumer records to prevent identity fraud, evaluate credit risk and retain customer relationships. For more information, visit http://www.clverify.com.

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