Fora Financial announces its next-generation technology platform that integrates its own proprietary software with existing programs and credit bureaus to enhance the breadth and speed of the underwriting process.
New York, NY (PRWEB) September 30, 2013
Fora Financial announces its next-generation technology platform that integrates its own proprietary software with existing programs and credit bureaus to enhance the breadth and speed of the underwriting process. The platform features a calculator to quickly and automatically determine the amount for which a customer qualifies. This ultimately increases the speed to fund customers while allowing the Company to fund industries that typically have trouble being approved for financing.
“Every small business owner knows that obtaining financing remains to be very difficult if not impossible in some industries,” said Dan Smith, President and Founder, Fora Financial. “Our platform provides us with a much more detailed 360-degree view of each customer’s business and financing model so we can better understand their operation and its needs. Ultimately, our advantage is having a mountain of data and analytics that allows us to provide businesses—even those in typically high-risk industries—with funding, where other lenders cannot.”
Unlike many funders that focus on one or two industries or sectors, Fora Financial has a diverse portfolio of customers that is changing and growing daily as all kinds of small businesses are seeking working capital to sustain or grow their business.
Smith added, “Because of the data at our disposal, and really getting to know the DNA of our customers’ businesses, we can fund industries and companies that our industry historically would not. These include marketing and advertising firms, consulting firms, e-commerce businesses, travel agencies, auto dealerships and repair shops, and many more. As a result, August was our best month to date as we provided more than $9 million across new and unique industries.”
For more information about Fora Financial, visit http://www.forafinancial.com.
About Fora Financial
Fora Financial offers flexible, working capital solutions to small businesses in need of financing to sustain or grow their enterprise. The Manhattan-based company places a high value on trust and transparency and provides businesses with quick, customized financial solutions utilizing its state-of-the-art technology platforms. Founded in June 2008, Fora Financial has provided more than $115 million to nearly 3,000 customers.