LendingFront, a leading fintech operating system that powers small business credit for community banks, credit unions, CDFIs, payment processors and alternative lenders, today reported robust business growth led by 100% growth in clients from 2019 along with 40% growth in applications processed.
“Small businesses have always needed access to capital, and that demand has only been exacerbated by the global pandemic. LendingFront has been able to step up during this critical time to help financial institutions and alternative lenders power their SMB credit programs specifically for the unique needs of small businesses,” said Jorge Sun, CEO of LendingFront. “Our momentum is built on being able to deliver the automated tools and infrastructure to help lenders ramp up quickly and efficiently and disperse much-needed capital to their customers.”
LendingFront is a white labeled, end-to-end operating system that enables financial institutions to provide capital to small businesses efficiently. The LendingFront technology consists of a set of integrated or standalone modules covering all aspects of the credit process including application intake, document collection, data aggregation, rules-based decisioning, underwriting, servicing, and more.
As part of its sustained company momentum, LendingFront has announced a number of new clients and product innovations. New financial institutions that have signed on to the LendingFront platform include Ponce Bank, Access Community Capital, and Innovation Works Baltimore.
In addition, LendingFront finalized an integration with Salesforce to make it easier for financial institutions to leverage LendingFront’s capabilities in their CRM.
“LendingFront provided us with a single solution that would meet our client needs from start to finish, and was deployed quickly. Since partnering with LendingFront, our cash advance process has become smoother and more streamlined, making it a better overall experience for our gig economy customers,” said Kobina Ansah, Founder and CEO of COVERR, which signed on with LendingFront in 2019.
LendingFront powers the future of business lending for community banks, credit unions, CDFIs, payment processors, and alternative lenders. An end-to-end, white labeled technology solution for application intake, document management, data aggregation, rules-based decisioning, underwriting, and servicing, LendingFront brings efficiency, transparency, and security to all aspects of the lending process.