![Phil Norris, CIO at Business Backer](http://media.assettype.com/cdo%2Fimport%2Fcdomagazine.tech%2Fcontent%2Ftncms%2Fassets%2Fv3%2Feditorial%2F5%2Fdc%2F5dce4a4e-039c-5a51-b5f7-d85343e1886f%2F5dbc593fca554.image.jpg?w=480&auto=format%2Ccompress&fit=max)
WHAT WE DO:
“Business Backer provides alternative funding to small businesses who are too new or don’t fit a bank’s actuaries. We’re unique in that we are up front about purchase price and we have no legalese in our easy-read contracts. In fact, we have received numerous awards for our highly ethical lending practices from entities like the City of Cincinnati and the State of Ohio, among others. If we can’t fund a business, we take the time to find them funding. We use technology for our underwriting and data sourcing, so that we can be very clear in our answer to a client and they can trust our quotes and our speed to market. The more data we put behind a decision, the cleaner the business is going to be, and that’s one of our core philosophies. FinTech is a huge and growing space and speed is everything in our business. We’ve taken what is typically a 2-day response time and shortened it to about 60-90 seconds, all thanks to the tech products we’ve built here, including separate analytics and data teams and integrating our systems front to back.”
What percentage of IT projects meet your time/cost/quality targets?
“We have a saying that I’m very proud of, “we are always on time and on budget” and our quality is top notch. That’s because of the hard work and dedication of our team – these guys have smart designs and they sling great code, so at the end of the day, our customers are super happy!”