Mirador is proud to partner with CDC Small Business Finance Corp and NYBDC’s Excelsior Growth Fund. NerdWallet recently listed them among two of of the 13 top sources of nonprofit financing according to the U.S. Small Business Administration and the Aspen Institute.
Three of the leaders in nonprofit financing are streamlining the lending process through Mirador’s integrated small business lending platform and are able to remain competitive even in the face of the quick, yet, expensive rise of alternative lenders. Steven Cohen, president of Excelsior Growth Fund, a New York-based lender comments “You see a lot of businesses trading off speed and efficiency for cost.”
In addition to traditionally offering loans of $50,000 or less to start-ups and small businesses, microlenders and nonprofit financing companies are providing consulting and training around finance and small business credit.
Using the Mirador platform, Excelsior Growth Fund has reduced loan origination costs by 25-50% and vastly improved efficiencies on declined loans, reducing a process that took 30-40% of loan officers’ time to virtually zero. Most importantly, EGF is able to match alternative lenders’ speed while offering more attractive pricing to borrowers with increased transparency around terms.
Mirador’s small business lending platform supports both retail and online lending processes, integrating seamlessly into the lender’s current parameters and creating efficiencies at every stage of the lending process.