BETHESDA, Md., May 12, 2015 /PRNewswire/ -- CU Solutions Group announced that it has partnered with Rapid Financial Services, LLC, d/b/a RapidAdvance, a leader in specialty business financing, to provide credit unions with flexible funding options for their small business members. This partnership enables credit unions to offer their members access to financing that isn't available via traditional lending products, or that fall outside the credit union's lending guidelines.
"Credit unions understand that access to capital is a vital component to growing a successful small business. By working with CU Solutions Group and RapidAdvance, credit unions will be in a position to meet the needs of more members by offering options that are both alternative and complementary to their traditional lending products," explained RapidAdvance's Chief Revenue Officer Mark Cerminaro.
This partnership leverages RapidAdvance's technology-driven platform and increases the availability of capital for small business members at over 4,000 credit unions working with CU Solutions Group. This enables credit unions to provide a better member experience, acquire more members, retain member deposit accounts and graduate members over time into traditional financing programs that may not be available today.
By leveraging a proprietary, technology driven platform, RapidAdvance is able to analyze businesses outside of the historical metrics used by traditional lending institutions, providing capital to a wider array of small businesses."RapidAdvance presents a strong option for non-traditional business financing, and CU Solutions Group is pleased to be able to offer this unique funding opportunity to the credit union industry," said David Adams, CEO of CU Solutions Group. "This program opens the doors for small business members, empowering credit unions to provide them with additional financing options and the ability to say 'yes' to more loans."
RapidAdvance has provided over $700 million to tens of thousands of small businesses owners. It maintains an A+ rating with the Better Business Bureau, and 98 percent of their customers say they would recommend RapidAdvance to other business owners.
"In today's economy, small business owners face unique challenges when trying to obtain financing to grow their business," added Cerminaro, "we provide financing options that allow business owners to access the capital they need in a fast, efficient manner, in a platform designed around customer experience."
To learn more about CU Solutions Group's partnership with RapidAdvance, visit http://cusolutionsgroup.com/rapidadvance.
CU Solutions Group and RapidAdvance have scheduled a series of webinars to provide insight into the benefits this partnership provides to credit unions and their members. If you are interested in attending a webinar please contact RapidAdvance at 844-239-2874.
CU Solutions Group serves the credit union industry by offering essential solutions in five key areas: marketing, technology, membership enhancements, performance management and lending & operations. CU Solutions Group was formed out of the combination of CU Village and HRN Management Group, and is owned by hundreds of investors made up of leagues, credit unions and credit union system organizations. Learn more at www.cusolutionsgroup.com, www.facebook.com/CUSolGroup or www.twitter.com/CUSolGroup.
RapidAdvance is one of the leading specialty finance companies in the online marketplace for small business capital. A part of the Rock Ventures Family of Companies that includes Quicken Loans, the Cleveland Cavaliers and other companies, RapidAdvance has provided over $700 million in capital to tens of thousands of small business owners. The company is A+ rated by the Better Business Bureau. Please visit www.rapidadvance.com for more information.