Q. Bizcap recently passed a major milestone – $1 billion in loans funded. How would you describe the journey?
The journey started in April 2019, when Abraham White and Zalman Blachman decided to launch Bizcap. Initially, they planned on starting a brokerage, but when they went out to market and got their product cheat sheets from lenders, they realised a lot of them were telling the same story and offering the same product.
Being a privately owned and funded company, with no debt facilities or institutional money, worked to our advantage and allowed us to take market share through COVID-19. Every other lender ceased lending for periods of time or at the very minimum restricted lending significantly.
Bizcap took a very rational and logical approach. Seeing what industries were still trading, Zalman adjusted our credit criteria and credit decision making multiple times a day. We were able to keep our doors open to lending thanks to this open-minded mentality of seeking out opportunities to assist small and medium-sized enterprises (SMEs).
To date, Bizcap has funded more than 25,000 loans totalling $1 billion, while retaining a 4.9/5 Trustpilot rating, which speaks to the satisfaction of clients and brokers.