SAN FRANCISCO, Oct. 22, 2015 /PRNewswire/ -- Better Finance, Inc. announced today it has been named the #1 among the Fastest Growing Private Companies in San Francisco by showcasing over a 3000% growth over the past three years. The prestigious award, given by the San Francisco Business Times, determines the region's most impressive, emerging growth companies.
Better Finance, Inc. is a financial technology company that provides innovative solutions for small businesses lending. The company's SmartBiz offering is the #1 online marketplace for SBA loans $350,000 and under, and a key driver of Better Finance's rapid growth. Leveraging its powerful technology platform, SmartBiz provides fast, low cost SBA loans to small businesses across America to help them thrive. The company streamlines the SBA application process, enabling banks to make loans efficiently and small businesses to apply and get funds quickly.
SmartBiz helps fill a multi-billion dollar funding gap in the market for small businesses that were sidelined by the 2008 financial crisis. Its sophisticated technology provides advanced underwriting capabilities for banks that translate into an amazing overall small business lending experience. This innovative platform, as well as the low monthly payments and 6% to 7%* interest rates combined with long repayment terms for borrowers, has resulted in nearly $2 Billion in SBA loan applications processed since their launch in late 2013. SmartBiz is now the #1 marketplace for online SBA loan originations in the country. Better Finance has had a 3-year growth of 3,026.7%, rocketing it to #1 on the San Francisco Business Times' ranking.
"We are thrilled to be recognized by the San Francisco Business Times as one of fastest growing companies in the Bay Area," said Ryan Gilbert, CEO of Better Finance parent company of SmartBiz. "We believe that small businesses deserve fast and affordable SBA loans, and our approach has clearly been resonating with business owners. We look forward to sustaining this growth over the long-term."
The San Francisco Business Times' Top 100 Fastest Growing Private Companies Awards is based on a percentage of revenue increase over a three-year period. The list identifies the most exciting companies that are powering the Bay Area's robust economy.
About Better Finance:
Better Finance, Inc. is privately held and based in San Francisco. The company was founded in 2009 by a team of experienced financial services entrepreneurs with backing from leading venture capital firms including Investor Growth Capital, Venrock, First Round Capital, Baseline Ventures, and SoftTech VC. SmartBiz (www.smartbizloans.com) is the company's #1 marketplace for online SBA loan originations in the country.
SOURCE Better Finance, Inc.