Eliminating the business loan application

Technological seachanges occur periodically in the financial industry that dramatically change how lenders engage with borrowers. Examples include the ATM machine, internet banking, and smartphones. These innovations touched every facet of the bank and changed how customers accessed a bank’s products and services.

APiO’s technology is poised to create a seachange in SMB lending that will create significant cost reductions, reduce friction with the customer, and provide broader and deeper insights into risk than what’s feasible with current technologies and approaches.

The current way that loans are being done is keeping lenders from hundreds of thousands of dollars of revenue. Current loan applications ask too many questions, especially questions that take a long time for the SMB to find the answers.

Web forms have moved the process online but still ask the same questions and require the same documents. The processing for these applications can be cumbersome, time-consuming and extremely expensive. SMBs are looking for loans that are under $250,000, with most looking for amounts between $50,000 and $100,000. Over 61% of all loan applications from SMB are for under $100,000. The average cost for loan underwriting is $5,000, which makes smaller loan requests almost impossible to satisfy.

There is a lot of paper, processes, and pain that goes into the loan application process. APiO wants to change that for your lending institution.

APiO’s unique technology offers an industry-changing pre-underwriting solution for lenders that significantly expedites the information gathering process for a small business loan. Direct Accounting System Integration is the solution that will forever change the way that credit lending is done. Rapid Data Financial Information acquisition relieves a lender from having to ask too many questions and relieves an SMB from scrambling to find the information.

Integrating directly to an SMB’s accounting system to a platform for pre-underwriting increases the speed of data collecting, while also making credit decisioning easier. Instead of the process being spread out over days, with constant phone calls and emails, the data is presented to you in just minutes. Reduced time means reduced costs. APiO.Credit will reduce processing costs by 10X the current values.

Lower costs mean being able to say yes more, even to loans that are under 250k and even under 100k. The APiO.Credit Portal is extremely user-friendly for both the SMB and the lender. Save time, money, and stress with APiO.Credit, and experience what it feels like to have more qualified candidates at your fingertips within minutes.

To participate in a pilot of our product, please reach out to us via email sales@apio.tech and start your journey toward the new seachange of business lending today.

Get in touch with us to learn more.