Freedom Bank Underwrites First Ever Valuation-Based Loan Using Fintech Partner BizEquity's Valuation Software

Rhea-AI Summary

Freedom Bank has successfully underwritten its first business valuation-based loan in partnership with BizEquity, a fintech leader specializing in business valuation technology. This innovative loan product aims to provide entrepreneurs with better access to capital and financial planning by leveraging real-time business values. Freedom Bank's use of BizEquity's state-of-the-art software marks a significant step in transforming traditional banking practices. With total assets of $846.6 million as of September 30, 2021, Freedom Bank is committed to empowering business owners through enhanced valuation tools.

Positive

• Freedom Bank has launched a pioneering business valuation-based loan product using BizEquity's valuation technology.
• The partnership aims to provide entrepreneurs with enhanced access to capital and financial planning.
• Freedom Bank reported total assets of $846.6 million as of September 30, 2021, indicating strong financial stability.

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• None.

PHILADELPHIA, Dec. 7, 2021 /PRNewswire/ -- Just two months after Freedom Bank partnered with valuation fintech leader BizEquity and launched its Business Valuation Loan product, the Virginia-based bank underwrites its first loan using BizEquity's valuation technology.

Valuation Software Drives Valuation-based Loan for Forward-Thinking Banking Partner, Powered by the BizEquity Platform

BizEquity's state-of-the-art valuation software, combined with Freedom Bank's extensive suite of unique banking services are shaking up what were previously considered "traditional" industries in the finance world- and they are only just getting started.

"Joe's vision for helping business owners get true credit for the businesses they have built maps to our mission to help businesses around the world have access to capital and better financial planning from understanding their business' value in real-time.  We are proud to power the first ever business valuation-based loan with Freedom Bank." 
- Michael M. Carter Founder & CEO, BizEquity

"Freedom Bank is committed to helping entrepreneurs succeed and we are excited to now offer the BizEquity tool to help business owners know and grow their value.  Our clients are using the platform to identify key performance indicators to improve their value and leverage the provided valuation to obtain financing to fuel future growth. This was the case with Ridge Capital Partners, who selected Freedom because of our innovative solution which was in part enabled by the BizEquity valuation technology."
- Joseph Thomas, President & CEO, Freedom Bank

About BizEquity

BizEquity is the leading fintech software company created to democratize business valuation knowledge for every business in the world.  BizEquity has created the largest online business valuation cloud-based software product and service and the most business valuation data on businesses in the market today.  BizEquity's patented platform is distributed through leading financial services firms such as TD Bank; UBS; PNC; Northwestern Mutual; Equitable; Goldman Sachs, and over 750 other financial services firms and over 4,000 advisors.  BizEquity was acquired by ACBJ in 2019 and now is able to provide financial services firms support to better reach business owner clients to help them discover their worth.

More information can be found at www.BizEquity.com.

About Freedom Bank

Freedom Bank (OTCQX: FDVA) is a next-generation community bank, headquartered in Fairfax, Virginia, offering commercial banking, personal banking, and mortgage banking solutions using banker expertise and innovative technology to build lead relationships with clients. Focusing on businesses, real estate owners, and professionals, Freedom Bank concentrates on key industry verticals to deliver unique, sector-specific solutions to help clients meet their goals and realize their dreams. Freedom Bank had total assets of $846.6 million on September 30, 2021, and sales office locations in Fairfax, Vienna, Reston, Manassas, and Chantilly, VA. The Freedom Bank Mortgage Division is headquartered in Chantilly, VA and the Freedom Bank Small Business Lending Division is headquartered in Harrison, NY. For information about Freedom Bank, visit our website at www.freedom.bank.

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SOURCE BizEquity

FAQ

What is the significance of Freedom Bank's first business valuation-based loan?

Freedom Bank's first business valuation-based loan signifies the innovative use of fintech to improve capital access for entrepreneurs.

How does BizEquity contribute to Freedom Bank's new loan product?

BizEquity provides valuation technology that helps determine real-time business values, facilitating the loan process for clients.

What were Freedom Bank's total assets on September 30, 2021?

Freedom Bank reported total assets of $846.6 million on September 30, 2021.

What are the benefits of the partnership between Freedom Bank and BizEquity?

The partnership offers entrepreneurs improved financial planning and access to capital through innovative valuation tools.

When was the press release about Freedom Bank's valuation loan issued?

The press release was issued on December 7, 2021.