Eastern Funding LLC, a small business lender that offers financial assistance to entrepreneurs in the laundry, dry cleaning and grocery industries, is proud to announce a brand-new feature to its already stellar loan application sales process.
       
The new service, called Small Ticket Group, is designed to help vendors complete all automatic and single signature transactions more efficiently. EF understands there are smaller, less complex transactions that require attention, yet these shouldn't disrupt the steady flow of operations. Deals will move more quickly through the sales process with STG, allowing for greater productivity.
       
STG will automatically populate certain fields during the loan approval process for auto transactions, eliminating the need to manually input information. The platform will pull details from the "Borrower," "Credit" and "Vendor" sections, among others, to fill out applications instantly. STG automatically approves sales if all seven of the preprogrammed qualifiers listed in the system are met. This saves time, increases productivity and allows operations to continue without a hitch.
       
A term chart is also part of the STG platform, which allows credit processors to forgo rehashing and decrease the amount of time spent negotiating by outlining exactly which term limits are associated with each credit amount.
       
The STG service is designed to account for the nuanced financial needs of laundry and dry cleaning. This exciting system has already gone live with a pilot group and is tentatively set for launch in January 2016.