Bankwell Financial Group, a notable commercial bank, has partnered with Lendio, a leader in the small business lending space.
This strategic collaboration aims to harness Lendio’s Intelligent Lending platform for sourcing, underwriting, and providing instant SBA 7(a) loan offers to business loan applicants.
The partnership is driven by the need to enhance the loan application and disbursement process. By integrating Lendio’s digital loan application, Bankwell aims to offer quicker loan options to its existing depositors, new loan applicants, and select partner-sourced customers.
This collaboration marks a significant advancement in the small business financing sector. Traditionally, SBA loans could take 30-60 days to originate. Now, with Lendio’s automated underwriting technology, Bankwell can provide instant loan offers, thus transforming the landscape of small business funding.
Ryan Hildebrand, chief innovation officer at Bankwell, “At Bankwell, we’re all about teaming up with the best in fintech to give both existing and new clients top-notch service quickly and efficiently.
“Our partnership with Lendio is a perfect example. We’re excited to offer instant SBA 7(a) loan options that simplify the borrowing process and help small businesses get the funds they need without the wait. It’s all about making banking easier and more responsive to our customers’ needs, and Lendio delivers.”
Brock Blake, CEO and co-founder of Lendio, also shared his enthusiasm, “SBA loans have long been the gold standard for small business funding, but until now they couldn’t be processed as quickly as other types of financing.
“I’m thrilled to partner with Bankwell on this new offering that transforms the small business lending landscape.”
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