Belated is better than never, right? We had a great experience at the 2024 Credit Builders Alliance Credit Symposium as first-time sponsors. Enjoyed seeing familiar faces from Washington Area Community Investment Fund, Inc. (Wacif) and Urban Strategies, Inc and meeting lots of new ones. Good to see you JaLisha Richmond, Nosa Iyare, Kevin Fryatt, Shauna Yeldell, Donovan Duncan, Tatiana Gillum, MBA, Paula Ochiel, and more! Jeffrey Fuhrer gave a compelling keynote on our present state of economic inequity and how to move past it. Check out his book The Myth That Made Us. Look forward to continuing the conversation with many of you. Until next time!
LoanWell
Financial Services
Durham, North Carolina 946 followers
Loan origination, re-imagined. On a mission of equitable access to affordable capital for all.
About us
LoanWell is building the "Squarespace for Lenders" with an end-to-end platform for intake, origination, underwriting, closing, servicing, and reporting. Lenders can provide their borrowers with a branded frontend and customizable origination process that enables user account management and gathers applicant information and required documents securely. Our applicant tracking technology enables automated email follow up to guide the borrower to application completion. With a customizable workflow and team management, lenders can task different individuals in their organization with different steps in the intake, origination, underwriting, and closing process. Lenders can perform financial analysis with their own models in one integrated tool using our Excel-like Underwriting module. Our custom closing process allows any lender to add their own closing documents and create an e-signature session for all parties embedded directly into the system. Once a loan is closed, LoanWell's servicing technology takes over with auto-drafted ACH payments from the borrower to the lender and custom email sequences according to the lender's collections policy. With LoanWell's robust reporting, Lenders can view their entire portfolio based on the KPIs and data visualization that is most important to them. If you know of any Loan Funds, CDFIs, Foundations doing PRI Lending, Community Banks or Credit Unions that may need our technology, we would love an introduction. See what we're up to at: https://loanwell.com. If you are interested in partnering with us, email team@loanwell.com.
- Website
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https://loanwell.com
External link for LoanWell
- Industry
- Financial Services
- Company size
- 11-50 employees
- Headquarters
- Durham, North Carolina
- Type
- Privately Held
- Founded
- 2017
Locations
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Primary
Get directions
201 W Main St
Durham, North Carolina, US
Employees at LoanWell
Updates
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$10.6M lending in one year. Over 1,000 community businesses impacted. Thousands of jobs created or retained. So proud to support and enable this important work. Every year better than the last!
As we approach our 30th anniversary of supporting small businesses that strengthen communities, demand for our services remains high and our team continues to deliver. In 2023, we provided 855 loans totaling $10.6M to businesses that helped to create or retain over 2,500 jobs that generated an estimated $69M in local wages. We provided free coaching and other support services to 948 community businesses that helped to create or maintain over 2,800 jobs that generated an estimated $77M in local wages. Alongside our government and philanthropic partners, we also disbursed $400K in grant funds to entrepreneurs. Read our 2023 Annual Report: a4cb.org/about/reports
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As usual, LoanWell had a fantastic time at this year's Opportunity Finance Network Small Business Finance Forum. It was so great to connect in person with customers. There is nothing like facetime to deepen relationships. The highlight was joining onsite with Allies for Community Business for their weekly teambuilding meeting. They were gracious enough to help us win the Pixar trivia! We also enjoyed all the booth traffic, meeting new people, and striking up conversations. If we missed each other - comment here and we'll reach out. great to see you: Denkyem Coop, Impact Ventures, Rainier Valley Community Development Fund, NewCorp, Inc. , Appalachian Community Capital, URBAN EMPOWERMENT FUND, CLIMB Fund, Piedmont Business Capital, NEW Community Investments, Latino Economic Development Center (LEDC), Honeycomb Credit, Vermont Slauson Economic Development Corporation (VSEDC), Energize Colorado.
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We're #hiring a new Account Executive in Raleigh-Durham-Chapel Hill Area. Apply today or share this post with your network.
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LoanWell reposted this
LoanWell is SO proud to be the technology platform powering the newly-launched Charlotte Small Business Growth Fund. $40M flowing to small businesses in Charlotte over the next four years, many of them minority-owned. Hats off to Scale Link for leading the charge, and to the banks funding the program including Bank of America and Truist, and to Charlotte Regional Business Alliance for their vital support. What a massive opportunity to increase access to affordable capital in the Charlotte region. Applications are open! Apply once in shared portal and get matched with a CDFI to complete your loan. https://lnkd.in/e3yS2i94 Excited to see your first loans fund! Ascendus ASPIRE Community Capital BEFCOR - Business Expansion Funding Corporation Carolina Small Business Development Fund DreamSpring
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LoanWell is SO proud to be the technology platform powering the newly-launched Charlotte Small Business Growth Fund. $40M flowing to small businesses in Charlotte over the next four years, many of them minority-owned. Hats off to Scale Link for leading the charge, and to the banks funding the program including Bank of America and Truist, and to Charlotte Regional Business Alliance for their vital support. What a massive opportunity to increase access to affordable capital in the Charlotte region. Applications are open! Apply once in shared portal and get matched with a CDFI to complete your loan. https://lnkd.in/e3yS2i94 Excited to see your first loans fund! Ascendus ASPIRE Community Capital BEFCOR - Business Expansion Funding Corporation Carolina Small Business Development Fund DreamSpring
Charlotte launches $40 million fund for small-biz loans - Business North Carolina
https://businessnc.com
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Proud to have our CEO Bernard Worthy at the Mastercard Center for Inclusive Growth Global conference on stage with some titans in the industry.
Truly honored to represent LoanWell as a panelist at the Mastercard Center for Inclusive Growth Global Summit this week in DC. Such a rich discussion lead by Salah Goss on AI as a Game Changer for Access to Services for Small Businesses. Enjoyed speaking about the algorithms and Marketplace technology that LoanWell is building with Scale Link as part of the Mastercard Strive Grant to help small businesses get access to affordable capital. Learned a ton from my fellow panelists Abran Maldonado Samantha Berg Traci Spiegelman and left really inspired about the possibilities of AI in the CDFI space. Thank you Mastercard Center for Inclusive Growth for the opportunity!
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LoanWell reposted this
Truly honored to represent LoanWell as a panelist at the Mastercard Center for Inclusive Growth Global Summit this week in DC. Such a rich discussion lead by Salah Goss on AI as a Game Changer for Access to Services for Small Businesses. Enjoyed speaking about the algorithms and Marketplace technology that LoanWell is building with Scale Link as part of the Mastercard Strive Grant to help small businesses get access to affordable capital. Learned a ton from my fellow panelists Abran Maldonado Samantha Berg Traci Spiegelman and left really inspired about the possibilities of AI in the CDFI space. Thank you Mastercard Center for Inclusive Growth for the opportunity!
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We are honored to have Audaz Capital as an investor in LoanWell. We love their mission and how it empowers us to continue to strive towards "Affordable Capital for All". Thank you!
🚀 Empowering Economic Prosperity through Innovation and Inclusion 🌟 At Audaz Capital, our mission goes beyond investing; it's about fostering a landscape where technology and inclusivity create tangible opportunities for all. We are proud to partner with visionary startups across the U.S. Southwest that are not just thriving but are also driving meaningful change in their communities. Here's how our portfolio companies are making a difference: 🔹 Finhabits: Tailored for the Latino community, Finhabits is the bilingual financial wellness platform that demystifies wealth building, making financial security accessible to everyone. By focusing on culturally relevant financial education and services, Finhabits is filling a critical gap in financial inclusivity. 🔹 LoanWell: Revolutionizing the lending landscape, Loanwell's automated technology enables community lenders to deploy capital more efficiently. This innovation enhances the ability to support small businesses and community projects, crucial drivers of local economies. 🔹 AizenFlow: At the cutting edge of logistics technology, AizenFlow utilizes AI to streamline operations for freight brokers. This not only boosts efficiency but also reduces overhead costs, leading to more competitive services in the supply chain sector. 🔹 Fonda: Empowering small and mid-sized restaurants to level the playing field, Fonda provides essential online tools that help these businesses expand their digital presence and compete against large chains. This support is vital for the growth and sustainability of local eateries. 🔹 Knomee: With a focus on personal finance, Knomee offers tools that help individuals understand their financial identity. This first step towards financial freedom is crucial in building a foundation for financial planning and empowerment. Through these investments, we are committed to reducing disparities and enhancing economic prosperity. Each of these companies not only represents a step forward in their respective industries but also a leap toward a more inclusive economic future. Learn more here: https://audaz.capital/
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CDFIs: Loans are the main thing, but they don't have to be the only thing. Your community includes businesses, entrepreneurs, and contractors with seasonal and unpredictable capital needs. Lines of credit are a great tool to meet this need. LoanWell now offers line of credit origination and servicing right alongside your small business loan or as a standalone product. Just as easy and automated as you have come to expect from LoanWell. - Standard application for borrowers - Underwrite, approve, and immediately disburse funds - Create and update repayment schedule with auto-adjusted future payments - Supports revolving and non-revolving types Reach out to Alison McGee or Philip Tester or Andy Thorson for more info! #cdfi #cdfis #communitydevelopment #economicjustice #communitylending