MicroBilt, a company that provides credit servicing solutions to small and medium businesses such as guitar stores, furniture centers and auto dealers, recently announced a merger with CL Verify, one of the nation's top short term lending fraud bureaus.
The merger combines two growing companies that share complementary business strategies and a spirit of innovation. Although both companies provide data solutions for verification, credit and collections, each company serves different market segments. The new combined company will have significant growth potential in analytic technologies. According to the blog Inside the Underbanked, the merger is more than just a brand name switch. CL Verify has a significant amount of data in the short term lending industry, a market that has been thriving in recent years. "I think MicroBilt is becoming a juggernaut in the underbanked space, one that if they play their cards right, should be of interest of the Big Three (credit bureaus) and the institutions that frequent them," says blogger Arjan Schuette.