PORTLAND, Ore.--(BUSINESS WIRE)--Mirador, provider of the leading digital lending platform, today unveiled new platform enhancements to deliver expanded actionable insights, more collaborative communication and increased transparency of application activity for both borrower and lender. These updates, based on real-life input from Mirador bank partners and borrowers, help lenders better serve their small business borrowers by facilitating more touchpoints throughout the loan application process and ultimately accelerating the flow of capital to small businesses. Borrowers also benefit from the ability to more easily track progress of their loan application and can now effortlessly communicate with loan officers as needed throughout the process.
“We continue to be driven by our mission to help more small businesses get the capital they need to grow, while giving traditional financial institutions a way to increase the profitability of these smaller loans so they can originate more of them. Mirador’s platform has already succeeded in achieving both of these goals, and we’re excited to see the impact of these new features for lenders and borrowers alike,” said Trevor Dryer, co-founder and CEO of Mirador.
The new enhancements, which are available now, include:
- A Streamlined User Interface: Based on feedback from lenders, the enhanced user interface gives lenders a transparent, integrated view of their current loan queue. It includes new dashboard cards to showcase loan applications in an at-a-glance manner and provides lenders the ability to easily view and analyze their loan queue.
- Improved Event Timeline Tool: The timeline shows borrowers and lenders significantly more detail about the application, creating more visibility and transparency for both parties. This enables borrower and lender alike to more easily explore changes and updates to the loan application.
- Loan Overview Page: Highlights a snapshot of the borrower’s application data, creating a communication structure that supports lenders seamlessly engaging and collaborating with borrowers. Lenders can more easily see and request missing loan documentation within each step of the process, allowing the loan to move forward more quickly.
- New Reports: Fifteen new reports provide financial institutions with even more detailed insights into their borrower and loan management process. Report data includes submit time, loan activity, credit spreads and other associated loan data.
“There are many advantages to working with a team like Mirador’s, but the most important one is that they listen and respond to our needs as an organization, which has given us a voice to recommend enhancements to the platform,” said James H. Bason, President & CEO, TruFund Financial Services, Inc. “We’ve seen those enhancements move from concept to reality, and these platform updates will help to increase our efficiency in many ways. Mirador has taken the right approach to create a true win-win partnership, and we look forward to launching TruFund’s online lending platform, thanks to their support.”
“Community Development Financial Institutions (CDFIs) play such a critical role in the viability of small businesses and we’re thrilled to be helping TruFund with the upcoming launch of their online lending platform and in their mission to advance economic opportunity for people, businesses and communities in need,” added Dryer.
These enhancements support Mirador’s mission to help financial institutions better serve their customers, helping them to grow their small business lending portfolios by providing an application process that is digital, secure, efficient and highly engaging and collaborative. For more details on the technical features of this platform update, click here: https://www.miradortech.com/whats-new/
About Mirador Financial Inc.
Mirador is passionate about helping small businesses grow through access to reasonably-priced business loans. By providing the leading intelligent small business lending platform, Mirador enables banks, credit unions, community banks and other financial institutions to efficiently serve small businesses. The Mirador intelligent small business lending platform is an elegant, cloud-based platform specifically developed for secure and efficient processing of small business loans. Mirador supports all small business loan products including lines of credit, term loans, SBA backed loans, commercial real estate, and collateralized loans for up to $50 million. Mirador has processed over $1.25 billion in small business loan applications. For more information please go to www.miradortech.com.