SLOW RESPONSE MEANS LOST BORROWERS
In the world of Alternative Lending, slow responses mean lost borrowers. Potential borrowers expect a rapid evaluation and decision. If lenders aren’t fast, borrowers look elsewhere. A firm that is not set up to quickly approve and finance deals will likely see their potential borrowers getting snapped up by the competition. In the end, response times are one of the key differentiators between the most successful Alternative Lending firms, and the ones who struggle.
Merchants need money fast. Whether it’s to cover payroll, invest in equipment or improvements, or to simply boost cash on hand, businesses applying for a loan or merchant cash advance generally don’t have weeks to wait for funding approval.
While big banks and traditional loans can often take months for approval, Alternative Lenders need to turn around deals in a few short days. Speed is one of Alternative Lending’s biggest advantages over traditional loans, but that advantage can easily be lost.
Because speed is so essential, we created a white paper to explore this topic: Slow Response Means Lost Borrowers
Click the link below to download the free white paper!
Shorten the deal entry process
Dynamic funding application consolidates all details and automatically parses entered information to accounts, opportunities and contacts.
Simplify deal submissions
The deal submission wizard prvides a guided flow and can automatically submit to multiiple lenders at once, complete with all necessary attachemnts.
Automating what used to be a heavily manual process
Get more deals funded
Bi-directional API's connecting Salsfrce to some of the biggest funders in the industry:
LendingTree, OnDeck, CANCapital, National Funding, Merchants Capital Access, Kapitus
FUNDINGO Loan Origination clients experience:
increase in Lead Conversion
decrease in time to funding
increase in growth