Horizon Business Funding Reports Week by Week Growth Linked to Streamlining Initiatives
NEW YORK, NY--(Marketwired - July 09, 2013) - Horizon Business Funding is a direct funder serving non-startup businesses in every industry. We provide direct capital small business financing for enterprises looking to grow, even if they have time requirements or credit issues that are incompatible with small business loan programs. Applications of direct capital are unrestricted and range from marketing to fleet financing. Horizon Business Funding is continuing the streamlining and refinement of our core processes, with measurable short and long-term success. Our underwriting department has implemented new strategies for constraint management in the last few months that have been stress tested by increased lead volume coming from targeted marketing initiatives. The result has been increased numbers reflected not only on a month by month, but on a week by week basis.
From April to May, the total dollars placed per month increased by 211%. New leadership of the underwriting team allowed us to increase the systematic efficiency with which we were able to approve and fund merchants. Furthermore, the underwriting department was able to streamline communication with sales, thanks to the first phases in integration of the proprietary front end tool we announced in our last release. Commenting on the steep climb in efficiency, Meir Hurwitz, CEO, stated, "I am incredibly pleased by the immediately visible effect of the changes we've implemented in the last few months. Client retention is increasing as turnaround times go down. The ISO's we are working with are bringing us a higher volume of leads with confidence that we can get the funding to their merchants in the shortest possible time. The lead production of our marketing is increasing, even as the total spend remains the same. Every department is increasing in output, in part due to the successful expansion of our team, but I believe mostly because of our uniquely efficient processes and ability to recognize who to fund."
Deeper SEO penetration has seen the volume of organic leads demonstrating the increased facility with which our underwriters do due diligence and approve funding, with the goal being lead generation that outpaces the growth of the sales and underwriting departments. Mark Kabbash, CMO, offered some insight on what has worked for the marketing department, saying, "From May to June, dollars placed grew an additional 82%. The first week of July saw a 59% increase in dollar placement over the first week of June. These numbers are in large part fueled by us reaching a wider digital audience as well as hosting better content on the site. We are not just getting more people to find us, we are getting more qualified business owners who have been looking for a way to get small business financing and see that we are the solution to their problem. However, the best is still yet to come. Our lead production has grown with no change in overall spend per month so far. The new content and what we have planned for the site's design are going to further increase the organic lead volume through SEO dominance in industry related search terms through Google and their keyword analysis toolset. When our new front end goes live, we will really be able to release the floodgates on lead production and client retention."
Horizon Business Funding is ready to take on an even higher volume of business. Further expansion of the sales and underwriting departments are planned to go forward soon, echoing the doubling in size that took place in the last couple months, and the current staff is raising the bar for performance by consistently pushing up monthly numbers. "The reality is," Meir Hurwitz says, "the fact that we can serve as a reliable and fast source of funding for more and more businesses means that more small businesses are being given chances to succeed. Our underwriters know how to identify who can really benefit from the programs we are offering, and as we have increased the volume of incoming leads in conjunction with our capacity to fund them, we are finding that there are a huge number of businesses that have been looking for the type of financing we give, unaware that they had options. There is a large population of American businesses underserved by traditional lenders, and our goal is to ensure that all of them are made aware of our service and can use it to pursue their goals."
About Horizon Business Funding
Horizon Business Funding is a provider of business loan alternatives in the form of merchant cash advances to small business owners, regardless of bad credit or other issues traditional banks use to disqualify funding applicants. We require no personal guarantees of collateral. The fact that we require no collateral from a business loans us a competitive advantage, as we can approve much faster. We fund businesses in any industry provided they have been operating for at least 2-3 months and have a monthly cash flow of $15,000. The efficiency of our underwriting department in vetting merchants with bad credit or in traditionally "high risk" industries including, but not limited to, trucking, liquor stores, construction, commercial fisheries and the automotive industry give our representatives and the ISO agents we work with a decisive edge through the ability to get small business owners the funding they need when nobody else can. By promoting our core values of professionalism, efficiency and work ethic Horizon Business Funding has experienced exponential growth and is continuing along this trajectory.
Media looking for more information can contact Andrew Greissman, Media Liaison, at 347-899-4190