The Credit Junction Pledges $100 Million in Loan Availability to Houston Minority Supplier Development Council Small Businesses in Landmark Partnership
NEW YORK–(BUSINESS WIRE)–The Credit Junction, an online lending platform for small and mid-size
businesses (SMBs), announced today that it has pledged $100 million in
loan availability to the small businesses belonging to the Houston
Minority Supplier Development Council (HMSDC), a non-profit organization
for minority-owned businesses in the Houston Metropolitan area. This
strategic alliance will help provide much needed support to the growing
number of small businesses in the United States’ fourth largest city.
HMSDC’s membership, which includes more than 700 minority-owned small
businesses, now has access to working capital that would otherwise be
difficult to obtain by traditional financing sources. Access to capital
remains a significant obstacle to the growth of small businesses, and as
traditional financial institutions face increasing regulations and
compliance costs, business owners will continue to seek alternative
financing sources.
“This collaborative, multi-faceted strategic partnership will benefit
both local businesses as well as the region at large, furthering The
Credit Junction’s commitment to offering SMBs a financing alternative,”
commented Sergio Rodriguera, Chief Strategy Officer of The Credit
Junction. “As part of that mission, we will continue to build even more
regional relationships to further facilitate the flow of credit to the
small businesses that fuel our nation’s economy.”
“Houston is a growing, thriving city, thanks in many ways to a diverse
number of industrial, oil and gas and healthcare businesses to name a
few,” said Robert Gonzalez, Director of Development and Consulting
Services of HMSDC. “Traditional sources of capital have often fallen
short in supplying the needs of small businesses, particularly when it
comes to minority-owned businesses. Our partnership with The Credit
Junction helps to ensure that our small business community receives the
opportunity to access the capital essential to develop and thrive as
leaders.”
About The Credit Junction
The Credit Junction is an online lending platform focused on providing
working capital and supply chain financing solutions to small and
mid-size businesses. The company employs an asset-based lending credit
evaluation model, and offers businesses up to $5 million in capital
availability, both in term loans and lines of credit. Using technology
and data intelligence in conjunction with traditional asset-based
lending metrics, The Credit Junction can better assess the health of a
small business, and provide a more transparent and user-friendly
experience. Our fast, flexible and efficient access to capital provides
small business owners with the resources they need to grow their
business, which ultimately supports job creation and local community
development. For more information, please visit: www.thecreditjunction.com.
About Houston Minority Supplier Development Council (HMSDC)
Established in 1973, the Houston Minority Supplier Development Council
is a non-profit organization for minority business enterprises (MBEs)
and major corporations interested in establishing relationships with
minority entrepreneurs and assisting in the growth of their company.
Included in the membership of HMSDC are more than 125 major corporations
and more than 700 minority businesses. HMSDC services the needs of both
MBEs and major corporations in the Houston Metropolitan area that are
committed to the expansion of procurement and business opportunities for
minority businesses of all sizes. HMSDC is the certifying agent for
minority businesses interested in doing business with major
corporations. The council provides programs and services that are
directed to the deliberate growth of minority businesses. Based on the
results of an economic impact study conducted in 2015 HMSDC certified
MBEs have a total economic impact of $22.8 billion which is composed of
over $17.1 billion dollars in output that results in the creation and/or
preservation of more than 67 thousand jobs. HMSDC is one of 24 regional
affiliates of the National Minority Supplier Development Council. For
more information, please visit: www.HMSDC.org.
Contacts
The Credit Junction
Sergio Rodriguera Jr.
Chief Strategy
Officer
sergior@thecreditjunction.com
www.thecreditjunction.com
or
HMSDC
? Houston Minority Supplier Development Council
Robert Gonzalez
Director
of Development and Consulting Services
robert.gonzalez@hmsdc.org
www.HMSDC.org
