Access Ventures, with support from the Ewing Marion Kauffman Foundation, is excited to announce the beta-launch of a new software solution for small business lending called Lenderfit. Lenderfit empowers small business lenders to grow their portfolios and reduce administrative time in the lending process while simultaneously providing small businesses with a better application experience.
Making it easier for lenders to support small businesses with access to strategic growth capital is imperative. Lenderfit does this by increases overall efficiency for existing loan products while giving lenders the ability to easily innovate with new underwriting methods such as character-based lending. Funding for this project is part of the Ewing Marion Kauffman Foundation’s overall effort to remove barriers for entrepreneurs as they seek to access capital.
Making it easier for lenders to support small businesses with access to strategic growth capital is imperative
David Taliaferro, CEO, Lenderfit
Over the past five years, Access Ventures has helped hundreds of small businesses access non-traditional capital. These efforts range from a local Growth Loan that eliminates the need for financial collateral and minimum credit scores, to national endeavors which include collaboration on crowdfunding opportunities for 0% interest loans.
We have learned firsthand that collecting essential information for small business loan approvals is a frustrating and lengthy process. Lenderfit’s innovative design is a reflection of our own lending experience and critical interactions within local small business support ecosystems across the nation over the past five years.Lenders need a customizable and intuitive solution that allows applicants to provide information in the most convenient manner possible, at any time of the day, wherever they are.
Lenderfit has...
- A customizable infrastructure for new and existing loan products;
- Automated alerts that decrease the time it takes to collect essential underwriting information;
- Automated confirmations that build trust with clients, confirming their activity as progress continues;
- Customizable cloud-based checklists to decrease internal errors and client frustration;
- And, a short implementation period measured in days or weeks, versus months.
We're excited to share that Lenderfit is now available to sign up for early access. Sign up on our website at lenderfit.io, or email us at hello@lenderfit.io to set up a demo.
To learn more about Lenderfit in person, you can attend two Louisville beta-launch events. The first will be at the next 1MillionCups Louisville event on April 17th, and the second will be a small business access to capital panel event at the St. Louis Federal Reserve on Tuesday, April 23rd.
About Access Ventures
Access Ventures, a Louisville, KY based private operating foundation, is working to initiate systemic change in communities that results in a more inclusive and creative economy: an economy that functions for all people, and in which everyone is valued. Recognized as a leading voice in values and mission-aligned investing, Access Ventures offers a one-pocket approach that is working to change the way the world invests. Learn more at http://accessventures.org.
