Jet Capital Leverages FactorTrust’s Data to More Quickly Provide Working Capital to Small Businesses
ATLANTA (April 26, 2016) – FactorTrust, The Alternative Credit Bureau, today announces a working partnership with Jet Capital, a provider of small business funding. This marks the first time FactorTrust’s data has been used for merchant advances, an important and strategic industry shift toward stronger support for the small business owner.
Jet Capital uses FactorTrust’s advanced analytics and risk scoring solutions to better and more quickly score customers for its merchant advance product, the company’s first of a variety of small business solutions it plans to launch utilizing its advanced, analytical platform.
“FactorTrust’s data allows us the ability to deploy capital to customers within 24 hours of application,” says Kenneth Wardle, Jet Capital Chief Executive Officer. “Our competitive edge is the swiftness in which we provide funding, so it is imperative we have real-time data on our customers. The FactorTrust score is highly predictive, and we’ve already seen better than expected results.”
FactorTrust has provided alternative credit data, analytics and risk management solutions on consumers who lack traditional credit options for lenders since 2006. The company has tens of millions of data points on the underbanked consumer segment and works with its customers to enable them to make quick and well-informed lending decisions utilizing its comprehensive scoring platform.
“Small business is critical to our country’s economy. Jet Capital was founded by entrepreneurs who understand the unique challenges small business owners face. They understand the power data holds in uncovering opportunities often missed by traditional business lenders, and providing innovative, competitively priced products to serve this growing need. We are proud that they are utilizing our data to help business owners succeed,” concludes Greg Rable, FactorTrust Chief Executive Officer.
For more information on FactorTrust, please visit www.FactorTrust.com or contact FactorTrust at 1-866-910-8497.
FactorTrust, The Alternative Credit Bureau, helps lenders manage the credit lifecycle of underbanked consumers using unique alternative credit information not available from the Big Three bureaus, enabling them to offer non-prime consumers the credit they deserve. Nearly 100 million U.S. adults have non-prime scores. Leveraging the company’s credit information, lenders can more accurately predict future borrowing behavior, credit performance and risk scoring for this growing segment. Headquartered in Atlanta, the experienced FactorTrust team of predictive analytics specialists, statisticians and financial industry experts has delivered unique data and valuable insight to lenders throughout the U.S. for 10 years. For more information on the quarterly FactorTrust Underbanked Index or the company itself, visitwww.FactorTrust.com.
About Jet Capital
Headquartered in the Dallas Forth Worth metroplex, Jet Capital (Jet Business Loans, LLC) offers financing solutions to small businesses in need of a fast and convenient source of additional working capital. Leveraging advanced analytics and proprietary technology, the company’s mission is to provide fast, innovative, responsible and hassle-free financing solutions for small business owners. Learn more at localhost/JC.
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