Over $1 Billion in Small Business Loans Requested Through Mirador
PORTLAND, Ore. — Mirador, a financial technology startup that provides a completely digital small business lending platform, reached an incredible milestone today when it surpassed $1 billion in loan requests. Since opening its doors in 2014, Mirador has implemented its white label platform with regional, mid-sized, and community banks, and credit unions, CDFI’s and other mission-based lenders all over the country to provide small businesses with fast and convenient access to credit.
Mirador gives banks an important technological edge, a collaborative, transparent application process, intelligent product routing, and automatic document collection and digitization, allowing them to be more efficient and profitable in growing and managing small business lending portfolios.
“Mirador’s success means that more small businesses are getting a chance to create new jobs and contribute to the economy,” said Mirador co-founder and CEO, Trevor Dryer. “Traditional financial institutions are a critical resource to small businesses, and I’m proud that Mirador makes small business lending a faster, more pleasant experience for the borrower, and a more efficient and profitable venture for the lender.”
On average, lenders that use Mirador’s white label solution experience 69% time savings in small business loan management, see $1,550 average cost savings in loan origination and have a 59.9% average application completion rate. Meanwhile, applicants experience a simple 10-minute process vs 30+ hours of confusion.
Institutions currently using Mirador’s digital small business lending platform include Umpqua Bank, NYBDC, Zions Bank, Hanmi Bank, First Foundation and Tompkins Financial, among others.
About Mirador Financial Inc.
The best small business lending experience starts with Mirador. Our platform powers customer acquisition, digital loan application and digitization, intelligent product routing and pre-screening, data management, and borrower communication. Built exclusively for banks, credit unions and other traditional lenders, Mirador supports all small business loan products including lines of credit, term loans, SBA backed loans, commercial real estate, and collateralized loans for up to $20 million.