LegalZoom Partners with BusinessLoans.com to Offer Small Businesses Greater Access to Capital

Core Insights - LegalZoom has partnered with BusinessLoans.com to enhance access to capital for small business owners, addressing a critical need for funding in the early stages of business development [12][1] - The partnership aims to provide a streamlined process for small businesses to secure loans and credit options directly through the LegalZoom platform, leveraging BusinessLoans.com's marketplace capabilities [7][8] Company Overview - LegalZoom is the leading online platform for business formation in the United States, offering a range of legal, tax, and compliance products to support small business owners [3] - The company is committed to making legal and financial expertise accessible and affordable, empowering entrepreneurs to realize their business aspirations [3][6] Market Context - According to Forbes, 38% of small businesses fail due to cash reserve exhaustion or inability to secure additional capital, highlighting the importance of access to funding [6] - Only 35% of small business owners manage to obtain a business loan or credit card within their first year, indicating a significant gap in financial support for new entrepreneurs [1][6] Partnership Details - BusinessLoans.com offers a variety of financial products, including secured loans and credit-building options, tailored to the specific needs of small businesses [7][13] - The partnership allows customers to apply for funding without leaving the LegalZoom site, simplifying the borrowing process through a guided questionnaire [8][12]