Bellevue-based BizX grew its trade and barter network by 265 members in 2020 and now has a community of more than 7,000 businesses that free up cash flow by trading what they have to get what they need, according to a news release.
The community transacted approximately 13 million BizX dollars, the currency of the exchange. Of that, restaurants transacted more than 1 million BizX dollars since the coronavirus pandemic began in March as they responded to needs for outdoor dining items, PPE, and more.
BizX and its members also raised nearly $180,000 last year through its sponsorships and charitable giving arm, helping 16 charities, including Habitat for Humanity, Food Lifeline, and Russell Wilson’s Why Not You Foundation.
“As business leaders look ahead to a return to some kind of normalcy, they are also looking for creative ways to come out of this crisis as strong as possible, with the resources and cash flow they need to survive,” Bob Bagga, CEO and founder of BizX, said in the release. “They also want someone to be a champion for them, and that’s BizX’s mission every single day.”
BizX also provides members with access to a line of credit and has nearly $10 million in lines of credit outstanding to its members, all at 0 percent interest since COVID-19 emerged.
Other BizX resources include webinars, community connections, and sales support.