LEHI, UTAH – Sept. 12, 2024– Bankwell Monetary Group, Inc. (NASDAQ: BWFG) introduced a strategic partnership with Lendio. It’ll leverage Lendio’s Clever Lending platform to supply, underwrite, and supply prompt SBA 7(a) mortgage provides to enterprise mortgage candidates.
Bankwell will even leverage Lendio’s digital mortgage software to supply loans to Bankwell’s present depositors, new mortgage candidates, and a few of Bankwell’s partner-sourced clients.
“At Bankwell, we’re all about teaming up with the perfect in fintech to present each present and new shoppers top-notch service shortly and effectively,” stated Ryan Hildebrand, Chief Innovation Officer at Bankwell. “Our partnership with Lendio is an ideal instance. We’re excited to supply prompt SBA 7(a) mortgage choices that simplify the borrowing course of and assist small companies get the funds they want with out the wait. It’s all about making banking simpler and extra conscious of our clients’ wants, and Lendio delivers.”
SBA loans have traditionally taken 30-60 days to originate. With this new partnership, Bankwell can present prompt provides by automated underwriting expertise.
“SBA loans have lengthy been the gold normal for small enterprise funding, however till now they couldn’t be processed as shortly as different sorts of financing,” stated Brock Blake CEO and Co-Founding father of Lendio. “I’m thrilled to companion with Bankwell on this new providing that transforms the small enterprise lending panorama.”
85% of small enterprise house owners say pace to mortgage approval is essential when choosing a lender, and 77% say they would favor to use on-line or by way of a cell app.
A software-as-a-service (SaaS) providing, Clever Lending permits banks and monetary establishments like Bankwell to evaluate threat cost-effectively and shortly by a digital software and automatic underwriting that leverages transaction-driven evaluation.
About Bankwell Monetary Group
Bankwell is a industrial financial institution that gives banking and lending providers to companies and residents. Bankwell was based on the ideas of offering an distinctive banking expertise and including worth to the communities it serves. Extra about Bankwell may be discovered at www.mybankwell.com.
About Lendio
Lendio is revolutionizing small enterprise lending by connecting small companies, lenders, and repair suppliers by an built-in expertise platform. Their mission is to facilitate an ecosystem that helps small companies. Lendio provides specialised software program to automate mortgage decisioning, makes use of AI to match companies with appropriate financing provides, and integrates a mortgage market inside service suppliers’ platforms to assist companies entry the capital they should succeed.
