Building on success of SBA 7(a) Express, Numerated expands software solution, making government lending more accessible for small business lenders
BOSTON, Oct. 13, 2022 /PRNewswire-PRWeb/ -- Today, Numerated, the fastest-growing fintech SaaS platform in the United States, announced the launch of its innovative SBA 7(a) product. Numerated's award-winning technology now guides lenders and their business customers through the full, complex SBA 7(a) loan process. With this solution, lenders can flawlessly execute 7(a) loans in compliance with SBA guidelines in a quarter of the time.
Loan guarantees provided by the SBA are meant to address the credit risk that prevents financial institutions from successfully lending to small businesses. But until now, the process of working with the SBA was too complex for most institutions to take on.
"For the last six years, we have used digital experiences and data science to transform how financial institutions lend to businesses,'' said Numerated CEO and co-founder Dan O'Malley. "We have brought the magic of the Numerated experience to the complicated process of SBA 7(a) lending. All lenders can now become successful SBA lenders."
SBA loans require that lenders and borrowers complete a minimum of 30 pages of forms and documentation. Gathering the information and analysis to complete them has historically taken weeks of work.
"Lenders can use the dynamic digital applications and data automation provided by the Numerated platform to remove most of the work of SBA loans," said Numerated Chief Product Officer Adam Kenney. "This is the same experience that has helped half a million businesses access capital at institutions using Numerated."
In partnership with the SBA lending community, Numerated brings its best-in-class lending experience to 7(a) loans with the following capabilities:
- Pre-filled, dynamic loan applications: Increase loan production with applications so short and simple that borrowers and all bankers can complete them without help.
- Application data validation: Enjoy peace of mind knowing the Numerated platform validates every application and prevents ineligible businesses from proceeding.
- Automated forms and closing documents: Save hours in the closing process with the automatic creation of execution-ready SBA forms and closing documents.
On November 1, Numerated's SBA lending experts will host a webinar featuring a live demo of the new 7(a) solution. Save your seat by registering here.
About Numerated
Numerated transforms the way financial institutions lend to businesses. Banks and credit unions use Numerated's modern Loan Origination System to meet businesses' expectations for digital convenience while driving significant gains in efficiency. The platform uses data to streamline originations for any business banking product, from application to decision to close. 500,000 businesses and 30,000 financial institution associates have leveraged the platform to process over $50 billion in lending, making Numerated the fastest growing fintech SaaS company on the 2022 Inc. 5,000.
Media Contact
Emma Schoth, Numerated, 1 3148337537, [email protected]
SOURCE Numerated
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