Fora Financial Utilizes Unique Software Platform
In September of 2013 Fora Financial announced the introduction of their next-generation technology platform. With the addition of this technology Fora Financial will streamline their underwriting process which will result in quicker, more accurate approvals for small business owners.
NEW YORK, NY – 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.”
Every small business owner knows that obtaining financing remains to be very difficult if not impossible in some industries.
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.”