and enhance customer satisfaction.
Streamline the SBA loan process with LendUX's digital application system. Our online portal lets borrowers easily submit loan applications and required documents, saving time for both lenders and borrowers. Plus, LendUX's cloud-based application can be easily integrated with your current SBA lending process and technology to solve your biggest frustrations.
by lending to underserved small businesses.
Small business owners often turn to traditional banks for their loan needs and only consider fintechs as a last resort after being denied by traditional banks. This results in fintechs servicing around 18 billion dollars in loans that traditional banks are unable to provide due to a lack of time, technology, and resources.
A loan origination system built with Small Business Administration (SBA) logic can streamline the SBA small loan process, making it easier and more efficient for small business owners to apply for and receive loans. These loans can be processed and closed quickly, often within days instead of weeks utilizing as few as 10 human hours.
and streamline the lending process.
The traditional SBA loan process is time-consuming and requires highly skilled staff, taking an average of 80 human hours to complete. Existing technology has been fragmented and has not significantly improved the process.
LendUX's end-to-end loan origination system, specifically designed for SBA loans, can save lenders 25-35% of the time needed to close a loan. This could result in the closure of additional loans. LendUX is continuously working to make the process even more efficient, with the goal of reducing the time needed to close a normal SBA loan by 50%.