LoanSage, an online resource for growing businesses, has announced the launch of its new online platform to help business owners access up to $2 million in capital and loans within a day. The platform educates businesses on the various types of term loans, working capital loans and alternative funding options that are available to small and medium businesses. The LoanSage proprietary algorithm uses a brief questionnaire to identify loan types for each business. Businesses can choose which lenders they want to use and apply directly for their loans or capital solutions.
Sean Barkulis, Managing Director of LoanSage, said, “We are excited to launch LoanSage to both educate and simplify how businesses find access to loans and capital.” LoanSage recently conducted a survey of 561 businesses and found that 60 percent of business owners who were in need of capital applied to more than one lender. On average, they spent 38 hours applying for the right loans or capital for their business,” he said. “LoanSage’s technology simplifies this process and can provide businesses with capital in as little as 24 hours. The best part is that LoanSage never charges business owners for this service.”
LoanSage also provides businesses with complimentary access to a customized business analysis and credit analysis report. The report asks basic financial information and then analyzes how the business performs vis-à-vis its industry peers. The report also provides recommendations on how to improve financial health in order to secure capital and manage debt.