New York, New York – QuickFi CXO Nate Gibbons recently sat down with the Bloomberg Black Business Beat, a daily look at the intersection of culture and commerce hosted by Renita Young, to talk about QuickFi’s mission of creating transparency in SMB/SME business lending with their patented 100% digital equipment financing platform.
QuickFi was built to dramatically improve the SMB/SME business borrower experience. QuickFi is the world’s only 100% digital, mobile, borrower-self-service business equipment financing platform. QuickFi enables creditworthy businesses to obtain low, fixed-rate term equipment financing in minutes, not days or weeks with transparent, terms and conditions and 24/7 access.
The current commercial equipment finance industry is broken. Borrowers pay too much. The process takes too long. And the existing business model costly for everyone involved. The process is also needlessly adversarial. In addition to the system’s lack of transparency and disclosures to SMB borrowers, the existing business model lacks meaningful digitization, which is inefficient for both lenders and borrowers.
By offering a transparent, fast, and accessible solution, QuickFi empowers small and medium business borrowers to take control of the financing process. QuickFi enables businesses to acquire the equipment they need to grow.
QuickFi provides a variety of social and public policy benefits. QuickFi is color-blind and gender-blind, relying only on objective borrower credit data for credit decisions. QuickFi serves small business borrowers efficiently, regardless of their physical proximity to urban banking services — reducing redlining concerns. Finally, QuickFi small business borrowers receive interest rate disclosures on all business loans, even though such disclosures are not yet mandated for business lenders throughout all states in the U.S.