Go to iBank Now
Kathryn JohnsonDirector of Communication Technology
3151 Airway, Building G-3
Costa Mesa, CA 92626
(714)549-4226
kjohnson@credentrust.com
September 20, 2006
PAPERLESS BUSINESS LOAN APPLICATIONS AND A NATIONWIDE LENDER NETWORK GET CHAMBER BUSINESSES MONEY FAST
Chamber members have access to an online secure vault, which connects to a nationwide network of lenders, insurers and investors
iBank.com, America’s #1 online small business finance network, has engineered over 90 on-line, paperless loan applications that are instantly connected to over 325 lenders nationwide. iBank.com has over 2100 partners, which include Fortune 500 companies, business associations, CPA firms, mortgage brokers and credit unions, all of which are using its private label version, to help their small business customers get the financing they need. Now iBank.com has made it easy for local and national Chambers of Commerce to help their small business members by providing an online, step-by step, paperless loan package builder. Chambers can add their own funding sources as well as take advantage of the iBank.com’s lender network. Chambers can also invite member funding sources such as local banks, credit unions, mortgage brokers, etc., to join the iBank.com’s network for free with no set up cost.
“At iBank.com our mission is helping small businesses connect to the right lenders with the right loan package in real-time via the Internet,” said Tom Markel Chairman and CEO of iBank.com./Credentrust Software. “This is the first and only engine to let small business owners take control of their data and loan packages, and invite funding sources to view their information without giving up control of the information. The business can access the information anytime and anywhere.”
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Working with the Chamber of Commerce, iBank.com can help small business owners navigate through the confusing maze of financial materials and documents needed to help start or expand their businesses. A recent study shows 61% of businesses are turned down for a loan, not due to credit or collateral, but to poorly prepared loan packages. At iBank.com, our mission is to quickly connect the small business owner with the financing, insurance, capital and equipment leasing needed via the internet.
The Chamber can leverage iBank’s web technology to serve their customers and give them every opportunity to find and apply for various financial, insurance or investment resources. With just one click to the Chamber website, members could be connected to either the Chamber sources and/or hundreds of lenders, insurance agents, and investors nationwide. Through this revolutionary web service, iBank.com takes center stage in helping small businesses create digital commercial loan packages which connect to qualified lenders via the internet. This allows them to secure and close loans faster, easier, cheaper and completely paperless.
Chambers also win by generating a monthly shared revenue stream, when their members submit requests and lenders pay to view these requests. In addition, Chambers have more website traffic and give members a better user experience.
Credentrust Software, Inc., the premier developer of iBank.com e-workflow collaboration online software, has set a new benchmark on how small businesses and commercial real estate owners/buyers can secure loans, leases, and capital or mortgage packages over the Internet. The Finance Center also offers a loan package builder where customers can build their own full-blown loan package, including business plans, management overviews, and financials and due diligence documents.
iBank.com has a track record of processing over $8 billion business loan transactions with an on average of 9 lenders viewing each Digital Loan Packages (DLP) and 1.7 proposals on each DLP. iBank.com offers a simple standardized and streamlined way to
build a loan package and get this package in the hands of the right lenders. Financing is available from $500 up to $500 million in our lender network that includes banks, Wall Street firms, insurance companies, finance companies as well as other financial institutions and private investors. The small business owner can easily invite their own lenders into their secure, private Vault, along with chamber lenders and iBank.com’s network of lenders. It also serves as a single storage area where all necessary parties can access the customer's documents and information, thereby reducing paper, faxing and postage charges.
A Chamber of Commerce can be set up and trained in less than 20 minutes with their privately branded online finance center. Chambers can also facilitate adding the chamber’s lender, investors and insurance members for free with no set up fees. With our unique revenue sharing plan your chamber’s new Financial Resource Center will be a win for all.
Contact iBank.com and let us help connect your members with the resources they need and each other. Call iBank.com/Credentrust Software Senior Business Development Manager, Ron Blake, at rblake@credentrust.com or at 877-999-6465, x 123.
About iBank.com
Based in Costa Mesa, Calif., www.iBank.com, America’s largest online small business lending engine, has become a commercial lending marketplace for businesses seeking venture capital and angel investors, small business loans, equipment leasing, business insurance and commercial mortgage loans in real time. Formed in 1999, www.iBank.com utilizes advanced search engine technology, a do-it-yourself professional online loan package builder, and numerous other online tools for communication and connecting with more than 250 lenders nationwide for closing loans faster. The whole process, when compared to manually preparing separate loan packages and finding the right lenders, eliminates about two-thirds of the time and cuts 90% of the cost involved.
