Alternative lenders are disparaging banks: See how we’re helping traditional lenders compete.
In a recent direct mail campaign from Funding Circle, the alternative lender is presenting alternative facts as well. We’ve played Mythbusters with their “facts” and presented data from real bank lenders using Mirador’s digital small business lending platform.
Myth: The process takes months.
Fact: Applicants on average apply in less than 10 minutes – and applications are reviewed within 48-hours in most cases.
Myth: Multiple, confusing fees
Fact: Due to the regulations from the federal government, banks and traditionally regulated lenders have transparent and easy to understand fee structures. Mirador helps traditional lenders ensure clarity and transparency by clearly showing an interest rate range and loan terms throughout the application process.
Myth: Likelihood of approval is low.
Fact: Bank and CDFI lenders want to approve small business loans to qualified borrowers. Mirador helps traditional lenders work qualified small businesses more efficiently and profitably by leveraging a digital application and origination experience.
Myth: Few loans under $1 million are available
Fact: 97.73% of all small business loans requested are under $1 million. Mirador helps traditional lenders service all types of small business loans with ease.
Mirador gives traditional lenders the edge they need to compete, allowing for a digital approach to small business lending that supports a modern approach to relationship banking.
Interested in learning more about how Mirador can support your efficiency and profitability goals while giving your applicants the one of the best small business lending experiences in the industry?
Schedule your personalized demonstration and product discussion today. Email Sales@MiradorTech.com or call +1 (866) 627-3070.