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FOR IMMEDIATE RELEASEContact: Vanessa Besack
Besack & Associates
(949) 295-4130
vanessa@besackandassociates.com
iBANK.COM LAUNCHES COMMERCIAL LENDING SEARCH ENGINE THAT LOWERS LENDER CUSTOMER ACQUISITION COSTS
www.ibank.com has engineered new filtering technology that matches lenders with small businesses seeking business loans, equipment leasing and commercial and home equity mortgage loans.
COSTA MESA, CALIF. (Nov. 8, 2005) – www.ibank.com, America's largest online small business lending network, has announced the creation of a commercial lending search engine, which allows small businesses to find lenders based on four search criteria. The criteria act as a filter which allows lenders to target their marketing dollars only to those small businesses seeking their products.
Through the small business lending engine, lenders can target multiple campaigns specifically to small businesses seeking business loans, equipment leasing and commercial and home equity mortgage loans. Only small businesses seeking their loan products will see the listings. This results in lenders experiencing a lower cost per new customer acquisition of any advertising medium in the nation, by eliminating costly clicks from unqualified borrowers.
“Unlike other major search engines, our commercial lending search engine is about connecting the small business person with real lenders, with real money, in real time,” said Thomas O. Markel, Chairman and CEO of Credentrust Software, Inc. the company that powers www.ibank.com . “In an efficient market, banks, credit unions, brokers and private investors can get hundreds of leads daily of small businesses that match their lending criteria. The more targeted their search campaign, the more loans they close, the higher they rank – everybody wins. It’s that simple.”
The new commercial lending search allows small businesses to search up to 85 different types of small business loans, equipment leasing, and commercial and home mortgage loan. Lenders can reach these small businesses in three ways:
• The organic lender list is comprised of information taken online from lender websites by the www.ibank.com web crawler. Lenders wishing to rank higher on the organic list can sign up for free on the www.ibank.com database.
• The Classified Campaign Lender list consists of lenders who pay for placement in the classified section of the search engine.
• The Premier Campaign Lender consists of lenders who have taken a more proactive approach by registering with www.ibank.com and creating targeted campaigns which deliver hot prospects directly to their computers each day. Premier Campaign Lenders can specifically target small businesses borrowers by designating up to 16 prequalification questions, including loan size, loan amount, credit score, years in business, loan to value, location, industry, loan or lease type.
Since its inception in 1999, www.iBank.com has revolutionized the commercial lending marketplace and consistently provided lenders and borrowers with a simplified, streamlined and seamless ways to do business with small business online. The website has processed more than $7 billion in aggregate loans each month, receiving approximately 6000 loan requests a month. The website has attracted some of the nation’s largest banks as well as community banks, private investors, brokers and credit unions. For a complete list of lending institutions, please visit http://www.ibank.com/lenders/lender_Network.cfm?pbonav=lenders.
www.iBank.com’s proprietary technology allows borrowers to create a professional loan/lease package online. Once the borrower finishes the application, www.iBank.com matches the borrower’s information to the loan criteria of lenders within its network and sends the borrower’s information only to those lenders whose criteria match those found in the application. The applicant’s information, along with other pertinent documents, such as business plans and projections, are then transferred directly into the lenders systems, allowing for faster analysis and processing of applications.
Lenders wishing to take a free, no-obligation tour of the system can visit http://www.ibank.com/lenders/lender_Home.cfm?pbonav=lenders.
About www.iBank.com
Based in Costa Mesa, Calif., www.iBank.com, America’s largest small business lending engine, has become a commercial lending marketplace for businesses seeking small business loans, equipment leasing, and commercial and home mortgage loans in real time. Formed in 1999, www.iBank.com utilizes advanced search engine technology that enables borrowers to create a professional loan/lease package online, connect with more than 225 lenders using pre-qualification criteria and close 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, cuts 90% of the cost involved.
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