While many large banks have been more focused on repaying TARP loans than lending to small businesses, Rebirth Financial is connecting community banks, credit unions, and individual investors to help small businesses get the financing they need. Read about it in my latest post on Silicon Bayou News:
ZingBoard founder Jim Blitch quickly exhausted his personal savings and investments from friends and family in building an online community for parents and teachers to connect around their children’s shared experiences. Yet he still needed another $5,000 to finish the coding on the platform and launch the company. Blitch had a long relationship with his bank but knew he didn’t have the collateral in place to secure a loan. Instead, he approached Rebirth Financial.
In 2 hours he was able to upload his profile on their site, he secured a loan within 24 hours, and had money in his bank account within 7 days.
“The great thing about working with Rebirth Financial is that they are really committed to helping local businesses thrive and grow,” stated Blitch. “Whenever I had a question about anything, they were simply a phone call away. They really helped me when I needed it.”
Developing upon the principles of micro-lending, Rebirth Financial has created an online financial platform that connects small business with banks, credit unions, and individual investors.