Lumos, a leading small business data analytics company, has partnered with Benetrends, a leader in the franchise lending space, to help financial institutions better assess small business credit risk and make more informed decisions for franchise loan applications.
WILMINGTON, N.C., Aug. 1, 2024 /PRNewswire-PRWeb/ — Lumos Technologies, Inc. (“Lumos”), and innovative small business data analytics company, is excited to announce a partnership with Benetrends Financial (“Benetrends”), a provider of innovative strategies to secure the ideal funding for small businesses.
With a mission to expand small businesses’ access to financing, Lumos is a leading provider of products focused on the assessment of small business credit risk.
“We are excited to enhance financial institutions’ visibility into franchise credit performance alongside Benetrends,” said Brett Caines, co-founder and CEO of Lumos. “With our data as part of Benetrends franchise business plans, financial institutions, lenders can determine the risk profile of franchise applications more efficiently and more effectively.”
In partnership with Lumos, Benetrends is adding Lumos’ proprietary SBA franchise lending data to enhance their franchise business plans. This information helps financial institutions better assess small business credit risk and make more informed decisions for franchise loan applications.
“At Benetrends, we are thrilled to integrate Lumos’ data into our business plans, enhancing our ability to provide clients with comprehensive and insightful funding solutions.” Reg Byrd, President of SBA & Bank Financing.
Benetrends has served over thirty thousand entrepreneurs with tailored funding solutions for small businesses. As a leader in the franchise lending space, the combination of Benetrends with Lumos’ unique franchise loan data set offers a more comprehensive view of risk and opportunity when lending to franchise brands.
About Lumos
Lumos is an industry-disrupting data analytics company delivering actionable insights, advisory services, and predictive technologies with safety and soundness in mind. Backed by expert financial literacy, Lumos provides financial institutions with standardized and automated metrics, powerful credit decisioning models, and efficient processes with rich, curated data and decades of financial institution literacy at the heart of it all. To learn more about Lumos, visit www.lumosdata.com.
About Benetrends
Benetrends is a premier financial solutions provider, empowering entrepreneurs with innovative funding options to successfully launch and grow their businesses. With over 40 years of expertise, Benetrends offers a comprehensive suite of services, including 401(k)/IRA rollover funding, SBA loans, unsecured funding, and more. Committed to excellence, Benetrends ensures clients receive personalized support and expert guidance throughout their entrepreneurial journey. To learn more about Benetrends, visit www.benetrends.com