Banks and other lenders that are taking advantage of responsive website technology will continue to have a huge advantage. Any institution that is not investing in mobile technology upgrades risks falling behind competitors.
New York, NY (PRWEB) October 31, 2013
Biz2Credit, the leading online credit marketplace connecting small- and medium-sized business borrowers with lenders, announced today that its traffic has increased 60 percent since integrating responsive website technology earlier this year.
Since implementing technological advancements that enable its website to dynamically change based on the type of device from which a visitor goes to Biz2Credit.com, mobile small business loan applications have risen from 25% of the online platform’s traffic to 40% in just six months.
"Just as consumers increasingly use their smart phones and tablets for personal activities, the owners of small companies are taking advantage of the changes in mobile technology to conduct business," said Rohit Arora, CEO of Biz2Credit and one of the country's leading experts in small business finance. "This is particularly true for female and minority entrepreneurs, as well as aspiring small business owners under the age of 30."
A recent study conducted by the Pew Research Center found that 51% of U.S. adults and 61% of Internet users, engage in online banking. Further, the number of users engaging in mobile banking has nearly doubled in two year’s time.
“Mobile banking represents the future for personal transactions, as well as small business banking,” added Arora, who this week gave a featured presentation on mobile loan application trends at the American Banker Small Business Banking Conference in New Orleans. "Banks and other lenders that are taking advantage of responsive website technology will continue to have a huge advantage. Any institution that is not investing in mobile technology upgrades risks falling behind competitors."
In 2013, Biz2Credit surpassed the $1 billion mark in small business funding transactions throughout the U.S. Lenders in the network include big banks, as well as regional banks, credit unions, microlenders, cash advance companies, and alternative lenders.
Founded in 2007, Biz2Credit is widely recognized as the #1 online credit resource for startup loans, lines of credit, equipment loans, working capital and other funding options. Using the latest technology, Biz2Credit matches borrowers to financial institutions based on each company's unique profile -- completed in less than four minutes -- in a safe, efficient, price-transparent environment. Biz2Credit’s network consists of 1.6 million users, 1,200+ lenders, credit rating agencies such as D&B and Equifax, and small business service providers including CPAs and lawyers.Visit http://www.biz2credit.com, follow on Twitter @Biz2Credit, and Facebook at http://www.facebook.com/biz2credit.