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BRIDGEFORCE, INC. |
For Immediate Release
May 1, 2006
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Contact: | Matt Scarborough |
| (302) 325-7100 |
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| www.bridgeforce.com |
New Partnership Created to Help Entrepreneurs and Small Business Lenders
Newark, DE - May 1, 2006: Bridgeforce Inc. and Genesis Analytics Inc. have announced a strategic partnership to provide new products to help minimize business risk for both Entrepreneurs and Small Business Lenders by employing revolutionary new Small Business risk assessment tools.
Many lenders have recognized the challenges of lending to young small businesses (typically under 2 years old) and have struggled to find risk evaluation tools that are effective for this critical, yet risky, segment of the market. As a result, most lenders have not provided loans to these newer enterprises, missing opportunities to build profitable loan portfolios.
The Genesis Analytics solution uses Owner, Business, and Industry characteristics, not included in previous decision tools, to predict whether a new small business will survive in its first four years of operations. Traditional small business tools evaluate only the credit history of the business owners, completely ignoring the probability of a new business surviving. When used in conjunction with traditional credit scoring tools, the Genesis Analytics solution provides an unprecedented ability to properly adjudicate new small business credit risk.
"Our agreement with Genesis Analytics is an important part of our strategy of helping lenders grow profits through better decisions about customer risk," said Dawn M. Willey, President of Bridgeforce, Inc. "Bridgeforce clearly sees an opportunity for lenders to leverage the Genesis Analytics solution to make better small business decisions. The solution predicts risk based upon information that is not currently captured by any other risk score."
"We are very excited about combining Bridgeforce's experience in financial services with the predictive power of the Genesis Analytics solution," said Stephen J. Hucal, President and CEO of Genesis Analytics Inc. "Now more than ever, lenders need better tools to tap the potential of the small business market. We are excited about the impact we can have by providing Lenders with solutions that now offer a less risky way to help Entrepreneurs, thereby providing more Capital to a critical segment of our economy - new small businesses"
About Bridgeforce, Inc.
Bridgeforce provides expert consulting services in the strategies, systems and tools required to maximize the value of customer relationships. We are a unique group of experts carefully selected for our business knowledge and technical expertise in areas including customer acquisition, credit, collections, fraud, and payment systems. Of equal importance, our people are passionate about mutual success. This is evidenced by our client testimonials and our record of long-term, multiple-engagement relationships.
www.bridgeforce.com
About Genesis Analytics
Genesis Analytics is in the risk management business and assists credit grantors in extending credit to new small businesses through the use of highly targeted risk management tools. The Genesis Analytics team is comprised of senior financial services executives with over 80 years of experience in commercial and consumer lending including risk management, analytics, marketing, finance, operations and technology. The Genesis Score is a revolutionary new algorithm that uses readily available information about a newer business to give credit adjudicators an unprecedented ability to assess new small business risk.
www.genesisanalytics.com
Contacts:
Bridgeforce, Inc., Newark, DE USA
Matt Scarborough, (302) 325-7100
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Genesis Analytics, Toronto, ON Canada
Stephen J. Hucal, (416) 762-1200
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