Ami Kassar, who I got to know in his ideablob days, has just co-founded a new venture.
I like business models that address inefficient markets. Ami’s new business, MultiFunding, looks to bridge the gap that now exists between entrepreneurs and banks issuing commercial credit. Commercial credit is certainly an industry that fits the bill of a market that is in disarray. And out of such chaos comes opportunity.
From the Philadelphia Business Journal:
MultiFunding has a strategic partnership with Biz2Credit, a New York-based
company that has developed a computer technology to match loan applicants with
the right lenders. Kassar said lenders provide MultiFunding with criteria for
potential commercial borrowers. Instead of applying for a loan one bank at a
time as borrowers normally do, MultiFunding helps small businesses find what
loan product is best for them, and then helps put together a centralized credit
application — which it distributes to the more than 100 lenders in its network.
MultiFunding works with the business through closing.
They are starting with a local market, but intend to roll this out nationally. We’ll keep an eye on this venture as it develops.