Categories: BankingBusiness

Biz2X & Network’s new SME financing partnership

Biz2X, a global technology and financing fintech company, and Network International (Network), a prominent facilitator of digital commerce in the Middle East and Africa, have announced a new SME financing partnership.

The partnership’s main goal is to give Network’s SME merchants access to new funding sources by using payment transaction data and real-time credit information to loan underwriters.

Using Network’s payments platform, merchants can choose from a range of integrated credit offers through Biz2X and have digital access to financing options.

Network’s SME merchants in the UAE should have access to financing options through this partnership by the first quarter of 2024.

What are the advantages?

1. Quick Capital Availability for Merchants: With loan processing times as short as 48 hours, this platform will provide Network’s merchants with quick access to financing alternatives.

2. Data-Driven Financing: The Biz2X platform prequalifies merchants for financing by utilizing Network’s merchant transaction and settlement data, which drastically lowers documentation requirements and speeds up approvals.

3. Smooth Onboarding Process: The integration of Biz2X’s lending solution within Network’s platform will enable merchants to experience a quick and easy loan onboarding process.

4. Multi-Lender Finance Ecosystem: Top offers from several lenders, such as banks and alternative finance providers, will be matched with merchants.

5. End-to-End Loan Lifecycle Management: By providing real-time oversight and continuous digital monitoring of their active loan portfolios, lenders can improve regulatory compliance and minimize risk.

Business Now Desk

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