The Arizona Chamber of Commerce and Industry and Tucson Hispanic Chamber of Commerce have entered a multifaceted partnership with two companies in the alternative lending space: Fundera and The Credit Junction.
Fundera, the free marketplace for small business loans, and The Credit Junction, a data-driven asset-based lending platform, are changing the way small businesses access capital needed to finance their projects. Both companies are working together to build an online portal dedicated to Arizona businesses and to roll out local educational initiatives.
“Our business community has been challenged in recent years in accessing capital to grow their businesses," Lea Marquez-Peterson, president and CEO of the Tucson Hispanic Chamber of Commerce, said. "The portal dedicated to Arizona small businesses will provide alternative financing solutions for businesses throughout the state.”
These outlets are exciting because they couple emerging technology with a real need in the marketplace to increase access to capital, Arizona Chamber of Commerce and Industry President and CEO Glenn Hamer said “To have a unique online portal designed specifically for Arizona business is welcome news.”
Arizona is ranked in the top 10 states for entrepreneurship and innovation by the U.S Chamber of Commerce. By embracing the changing financial services landscape, Arizona is helping small businesses and solidifying Arizona’s commitment to job creation and community development.
“We’re excited to see these two chambers of commerce make small business financing a top priority. With 45 percent of the Arizona population employed by small businesses we need and want to make sure they have the right financing products to grow,” Jared Hecht. CEO and co-founder of Fundera, said.
This alliance between the public and private sector reinforces Arizona’s leadership and commitment to its small business community, Michael Finkelstein, CEO and founder of The Credit Junction, said.
"Access to capital remains a key ingredient to fostering small business growth, and we are thrilled to be part of this collaborative effort,” Finkelstein said.