National Funding and Quick Bridge Funding announced Project Navigator, a joint venture that allows small business loan brokers to present potential deals to two lenders at once. National Funding is one of the country’s largest private direct lenders of small business loans, while Quick Bridge Funding acquires business exclusively through brokers.
The companies have partnered to create proprietary technology that streamlines the lending application process, ensuring that customers receive the best offer for their loan application. The program, aimed at helping reduce back-end work for brokers in order to secure the best offer for the customer, is now available nationwide.
“Our two companies are committed to serving the broker community with both rapid turnarounds and the best outcomes on credit applications,” said David Gilbert, Founder and CEO of National Funding. “We have often looked separately at the same customer deals because brokers sent them to both of us. Now we can streamline the process and ensure that the applicant is presented with the best offer.”
Applications will come into National Funding for initial review and will be automatically routed to Quick Bridge if National Funding cannot underwrite the loan, based on lending criteria. National Funding announced its broker services program in Q4 2014 to provide brokers and independent sales organizations (ISOs) with access to a nationwide, industry-leading lender. National Funding has seen extremely rapid growth from brokers and ISOs and predicts that Project Navigator will enable additional growth in the sector.
“By partnering with National Funding to streamline the process for brokers and ISOs, we will be able to attract more customers and provide more personalized services,” says Ben Gold, President of Quick Bridge Funding. “We have always wanted to connect directly to an ‘A’ lender such as National Funding and open our service more broadly to the broker community. Project Navigator is allowing us to do just that.”
Seen from the customer perspective, Project Navigator provides brokers a seamless way to offer deals across the full credit spectrum in one location, instead of sending out applications one at a time until they find an approval. “Project Navigator will give us the ability to deliver our customers the best-of-class products and services available in the marketplace and focus on our core competency of loan originations,” added Brij Patel, President of brokerage Alliance Funding, an early adaptor to the program.