Fintech lender partners with Lendsmart to streamline small business lending and enhance the customer experience.
NEW YORK, December 02, 2021--(BUSINESS WIRE)--Lendsmart, an AI-driven digital lending platform, today announced its partnership with Breakout Capital, a leading small business lender that provides simple, straightforward working capital solutions to small businesses.
Breakout Capital has integrated with Lendsmart’s Loan Management System, which to date, has processed over 15,000 loans. With Lendsmart’s lending technology, Breakout Capital can offer borrowers one end-to-end digital experience that brings experts and advisors together to expedite loan approvals.
"We’re excited to partner with a fintech company dedicated to empowering small businesses," said AK Patel, Founder and CEO of Lendsmart. "This past year and a half has proven that lenders and small businesses need an automated, seamless lending process that isn’t burdened with long wait times and repetitive, administrative tasks."
Lendsmart’s underwriting tools reduce the lengthy application process to 10 minutes by automating manual tasks, improving accuracy, minimizing lender risk, and reducing origination and operational costs.
"Partnering with Lendsmart will allow us to do more for our customers," said McLean Wilson, CEO & President of Breakout Capital. "Transparency, suitability, and product innovation are pillars of our work with small businesses, and Lendsmart’s technology will provide our customers with a seamless end to end experience, while allowing our organization to process more loans, more efficiently."
Lendsmart is pleased to be supporting small businesses through its partnership with Breakout Capital and is looking forward to furthering their shared goal of making the lending process more transparent.
Lendsmart (Founded in 2018) is an AI-driven digital lending platform that automates and digitizes lending and home buying operations to create a single, automated conversational experience for banks, credit unions, and non-bank lenders. Using artificial intelligence to digitize up to 70% of the lending and home buying processes, Lendsmart allows borrowers to get a loan, refinance, or purchase a home in record time. For more information, visit https://lendsmart.ai.
About Breakout Capital
Breakout Capital is a leading small business lender that provides simple, straightforward working capital solutions to small businesses. Breakout Capital is one of the fastest growing alternative lenders in the market, already providing tens of millions of dollars of working capital to hundreds of small businesses across the country. For more information, visit https://breakoutfinance.com.
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