Online Platform Helps Banks Find Creditworthy Applicants Just in Time to Save Main Street

LAS VEGAS, Sept. 30 /PRNewswire/ -- With the "Small Business Lending Bill" now signed into law, the need to help newly resourced banks connect with creditworthy small business owners and entrepreneurs who want to borrow, has become a more important issue than ever before. Funding Roadmap, the groundbreaking online multiple-choice business plan and due diligence reporting system with a built in loan application has a solution to that problem.

"A Funding Roadmap License provides the perfect tool for bankers and lenders looking to better serve the needs of their small business customers, dramatically streamline the approval process and enhance the funding experience," says Unismart Capital Software CEO Ruth Hedges.

The Funding Roadmap platform provides a much easier online process for borrowers and lenders alike, with a simpler yet comprehensive multiple-choice format that could be the game changing technology solution that our country needs to bring these parties together and renew the funding of small business.

The private label licensable platform can be distributed directly from banks' websites on their secure servers anywhere in the world and will attract more creditworthy applicants than the more expensive and labor intensive methods presently used by banks to attract new clients. The bank pays a yearly subscription fee to integrate the platform onto their website and build their own internal marketplace of credit worthy applicants, so branch loan officers can see all the applications within the system from across the country that fit the criteria they've set.

The Funding Roadmap provides banks the ability to compete with the online loan exchanges that have proliferated recently. Banks can also win an advantage over their competitors by helping simplify this process and reduce the frustration applicants experience as well. By accepting business loan applications along with their business plan information through their own websites, banks get the convenience of taking a quick first look as well as the ability to take the process all the way through the underwriting and auditing process without using third parties to help them find or process their loans.

In an article in US Banker called "Finding The Right Match" by Bonnie McGeer, Christine Pratt, a senior analyst at Aite Group in Boston is quoted saying, "banks tend to be reluctant to use any third party to find loans if they can help it." But she does think banks can take a lesson from these online players-by accepting business loan applications through their own websites. There is an online market obviously. The analyst says the online loan exchanges generally offer "very simple forms" for business owners to fill out and banks should do the same.

"There's a frustration I'm sure on the part of many of these businesses that are trying to borrow money and are just going from bank to bank and getting turned down," Pratt says, adding that banks can win an advantage over their competitors by helping reduce the frustration. "There is an opportunity for online delivery."

Additional advantages to bankers and investors are obvious: rapid increases of efficiency, productivity, reliability and reduced costs across the board. Banks and lending institutions will find compelling advantages by adopting the Funding Roadmap:

• Loan officers can collaborate with entrepreneurs online as they prepare their applications and lay the groundwork for a super-streamlined and successful due diligence process.
• Easy navigation allows for instant access to plan elements of importance to a reviewer.
• Fast-tracking proposals: due diligence can be disclosed as soon as the review process starts.
• Credit departments will be able to increase their efficiency and productivity and save the bank money by wide margins.
• The first fully green and environmentally friendly product of its kind. No more static, wasteful, paper business plans, sold in boxes, requiring printing, shipping, handling and storage, wasting trees, and fossil fuel.
• For lenders and investors, Funding Roadmap is about instant access to relevant and accurate information increasing the applicants chances for funding and eliminating wasted time from ones that are not, and getting more loans or investments closed and processed.

More well funded companies mean more employment opportunities in the marketplace.

• The new Funding Roadmap platform streamlines the lending and/or funding process and provides (the first of its kind) standardized application and due diligence screening process.
• Its speeds data processes, enabling improved customer loan approval response times, and replaces costly paper-based work flows into an electronic platform with GAAP compliant financial statements that an entire organization can review electronically online from anywhere.
• It allows banks and other funding sources to store searchable volumes of standardized business plans and financial statements into accessible electronic files on their own servers for quick and easy retrieval.

CEO Ruth Hedges says, "Our design and content meet structure and disclosure compliance requirements for due diligence. This includes a careful assessment of the management team, the business model, the value proposition, the distribution strategy, the intellectual property, the financial strategy and capital requirements, and the legal structure and records of the company, to name just a few. We believe that starting the due diligence process from the beginning should make business owners more aware of their competitive posture and matters of compliance and disclosure, which might otherwise cause them to falter if not addressed early on in their development.

"Converting to the Funding Roadmap system will dramatically change the economic landscape, help stimulate sound economic growth and get much needed capital into the hands of more small business owners, so they can grow their companies and create more jobs now (when they are so desperately needed) and into the future," she concludes.

For more information on Unismart Capital Software's Funding Roadmap visit http://www.fundingroadmap.com

For direct enquiries email [email protected] or contact 877-780-8955

SOURCE FundingRoadmap.com