Technology Drives Opportunity as Connect2Capital Hits $100 Million
By: Patrick Davis
When Connect2Capital launched in 2018, we envisioned a collaborative community of banks and mission-driven small business lenders that would improve access to capital for entrepreneurs across the country. In a landscape full of payday and predatory lenders, Connect2Capital provides a trusted network of more than 70 lending partners, responsible loan products and an easy-to-access online portal for managing the application process.
This week, we are celebrating a significant milestone for Connect2Capital: $100 million in loan volume. The power of our network and our shared focus on impact allows us – together with our valued partners throughout the country – to be more flexible and take greater risk when we see an opportunity to lend to an entrepreneur that will create economic opportunity in their community.
Technology is a critical equalizer that enables small business owners to navigate the lending process quickly, easily and at their own pace. Connect2Capital is designed to provide an intuitive user experience for both for our partners and for small business applicants. This lowers a significant barrier for small businesses that may be deemed ineligible for traditional loans and products from mainstream financial institutions.
Since Connect2Capital launched, our loans to small businesses have helped over 3,200 small businesses create more than 4,500 jobs in under-served communities. But the impact we’ve achieved together is so much greater than numbers: through Connect2Capital, we have given small businesses a fair chance to grow, hire and thrive in the communities where they operate.
For small business owners who have been shut out of the small business finance system, particularly BIPOC and women entrepreneurs, Connect2Capital is an opportunity to gain equal footing and – through our partner network – access the same financial resources that other businesses take for granted.
Thanks to our partners and fellow visionaries who helped us build Connect2Capital, and special thanks to all of the small business owners who helped us realize a new way to provide online business lending. We truly could not have reached this milestone without all of you.