There are many tools that can help small businesses get funds to grow and expand. However, most of these tools are not complete. The nonprofit Opportunity Finance Network has recently launched its own tool – Venturize.
What Is Venturize?
Since September 2015, the Opportunity Finance Network based in Philadelphia, a national network of Community Development Financial Institutions (CDFIs), held focus groups in 8 locations throughout the country.
As Miti Sathe, a senior vice president at the Opportunity Finance Network, notes people need information, which is quickly available and is available from a reliable source. The main benefit of Venturize has to do with Annual Percentage Rate (APR) calculators that are designed to help small business owners determine the effective interest rate of any loan. This refers also to a merchant cash advance.
Merchants, especially high risk ones, know how important it is to find a trustworthy lender to apply for business funding. Consider turning to First American Merchant, the best business funder in the US that boasts an A+ rating with the BBB.
Best Business Funding for Your Company
Having more options means more people are able to access to credit. On the other hand, it also means there is increased confusion in the field. With true professionals, small business owners can get the best for their specific business needs without major difficulties.
With First American Merchant you can get the best Cash Advance and ACH Business Funding for your company. FAM is a full-service platform that offers the lowest rates in the industry and provides exceptional chargeback and fraud prevention protection programs for businesses of all types.
If you choose to use Venturize, it will not help you decide on one specific loan. It will offer useful guidelines on the types of loans in general. These guidelines also include the associated costs that are available to business owners with the given credit score and the given business history. Venturize is developed to help you be smarter about what you need to know to safeguard yourself before applying for this or that type of loan or cash advance.
Sathe notes the Opportunity Finance Network focuses on 2 important groups, women entrepreneurs and small business owners of color, that have historically faced barriers with regard to business funding. Sathe believes greater transparency will result in increased fairness about who should get financing and at what cost.