NEW YORK, Aug. 12, 2015 /PRNewswire/ -- Herio Capital, an online small business lender, announced today that it provided over $2 million in loans in July, a new monthly record for the firm. July's volume represents a 37% increase over the previous month's origination. Herio has seen exponential growth since launching its small business lending program in April, following a successful private beta earlier in the year.
"With proficiency and increasing speed, Herio continues to put working capital into the hands of more and more small business owners across the country," says Sherif Hassan, Founder and Managing Partner. "Our steady progress has us poised for further growth as we head into the fall."
The milestone comes on the heels of Herio's partnership with Bizfi as a funding source on their alternative finance platform. The platform provides applicants the opportunity to compare several financing options. Approvals are available in real time, aligning with Herio's mission to quickly fund borrowers through a seamless online experience.
"We completed the integration with Bizfi alongside the release of our credit scoring API," says Patrick Janson, Partner and Head of Product Management at Herio. "Now online brokerages and lending platforms can receive real time feedback from Herio Insight, our proprietary credit model. This technology is a key component of our mission: providing small business owners with greater access to working capital through the web."
Herio Capital expects to continue its momentum, forecasting that they will provide over $25 million in capital to America's small business owners by the year's end.
About Herio Capital:
Herio Capital is a financial technology company focused on providing loans to small businesses. By using the right mix of automation and human insight, Herio provides business owners with working capital in as little as 48 hours.
The founding team at Herio has funded over $1.5 billion in loans to more than 10,000 small businesses in 700 industries. For more information, visit Herio Capital online at www.heriocapital.com.
SOURCE Herio Capital