Editor's Note: This story has been updated since its original reporting to more accurately reflect the partnership.
DES MOINES, Iowa –Curql Collective, the CUSO that acts as a venture capital investor in fintechs for credit unions, has added a new partner: Foro.
Curql said it has not made an investment in Foro. Rather, the company has become a non-portfolio partner that has joined through a subscription with Curql.
Foro is a commercial lending platform and “joins an ever-growing list of fintech partners working to deliver transformative financial technology that helps credit unions create peerless member experiences,” Curql Collective said.
Based in Charlotte, N.C., Foro’s technology streamlines the commercial lending experience for small and midsize businesses and introduces them to lenders that best fit their capital needs, in a fraction of the time when compared to traditional methods, according to Curql Collective.
“Businesses seeking a loan can connect with multiple lenders simultaneously, through one centralized experience, saving time and paperwork for both the potential borrower and lender,” the CUSO said.
The entire experience is backed and guided by a team of commercial lending experts who guide borrowers through the process, Curql added.
‘Important Part of Big Picture’
"Commercial borrowers are an important part of the big picture, helping credit unions diversify and strengthen their loan portfolios," said Curql Collective CEO & President Nick Evens. "Foro's solution will make it easier for commercial borrowers to find quality loans and lenders and provide new channels for credit unions to expand their commercial loan portfolios and connect with high-quality commercial members. It's a win-win for both businesses and credit unions. We think Foro's solution is a game changer that will excite many credit unions."
‘Critical Lending Option’
Added Dave Godsman, CEO of Foro, “We’re excited to be a part of the Curql Collective to help growing businesses increase their access to capital. Credit unions are a critical lending option for all businesses, and we look forward to helping expand membership and commercial loan portfolios for all the Curql Collective members.”
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