Case Study: Imperial Advance

Imperial Advance, a leading small business lending and financial services company in New York City, provides small businesses the access they need to fast and affordable working capital. The company provides an unparalleled level of customer service and a commitment to helping all businesses achieve their goals.

Imperial Advance is proudly recognized by the Better Business Bureau (BBB) as an Accredited Business, achieving an A+ rating for its proven record of trustworthiness, ethics and commitment to outstanding client service.

Imperial Advance alternative lending loan management solutions

The Challenge

When Imperial Advance came to Fundingo, their growth had plateaued. They were essentially blocked from any further improvements or innovations due to a no longer effective legacy system.

Inefficient Processes:
They had a slow onboarding process for new hires and procedures.
It was difficult to submit loan applications to lenders for approval.
Deals were often being sent to the wrong lenders, taking too much time, or not getting approved in time
They had to go to the ACH portal every day to review all balance sheets, navigating in and out of many screens and apps to find the details of each deal.

Limited Deal Tracking, Reporting and Disconnected Systems:
Deals were being tracked on spreadsheets, and separate systems that didn’t talk to each other
While on a call, reps had a limited view of customer contacts, history, and deals
Their lack of reporting options made it almost impossible for management to track deals and get an accurate understanding of weekly cash flow
It was difficult to track deals and provide exceptional customer service, leading to lost deals and unhappy customers
The cost of acquisition of each closed deal was very high, as they were not able to target their marketing spend, leading to low conversions.
Their lack of weekly cash flow metrics restricted their ability to take on new deals

The Solution

The project included implementing Sales Cloud, Fundingo Origination, and a number of 3rd party apps such as Conga and Docusign. The project also included a number of customizations tailored specifically to Imperial Advance’s unique process. Some of our most significant tweaks for this project were: a customized Fundingo Loan Submission Wizard, a number of added lender API’s, financial/ACH integrations, and the implementation of a whole host of automations, alerts and reporting options.

The Result

Imperial’s funding process, from start to finish, became faster, more user-friendly and smarter. As a small company, they saw immediate improvements to their entire business, from faster deal submissions to significantly improved metrics and data insights. The turn around was so significant, that within a few short months Imperial was able to expand, and open a new office in Miami, where they now emphatically endorse Salesforce, and the Fundingo solution. Stagnation is definitely a thing of the past.