About the SPARK Platform

Everything you need to optimize the loan origination process

Platform Features

SPARK is more than just a loan origination platform, it’s a file sharing system, document management, financial spreading, and borrower portal all-in-one solution. It was built to scale, using standard features and functions as the building blocks of success. SPARK supports multiple lending products, actively encourages borrower participation, seamlessly organizes documents, and reports on lending activity, at no extra cost. For those lenders participating in SBA 7(a) programs, you’ll discover increased functionality as SPARK was originally created to support SBA 7(a) lending. That is why you’ll find an E-Tran integration, SBA 10 Tabs, and automatic SBA Form generation comes standard with SPARK.

Platform Benefits

Many platforms claim to save lenders time and money. With SPARK, we want to make sure that we deliver on that claim.  How do we do it? Automated form generation, intelligent document checklists, consistent loan process execution, and elimination of repetitive data entry. Since SPARK is an evolving platform, this list of benefits grows with each software release. We work hard to automate and integrate intelligence into our platform, reducing human error and improving the overall lending experience.

Our Process

Customer Experience is very important to us at SPARK, that’s why we incorporated it into our onboarding process. Each new SPARK customer has a dedicated customer success manager who is there to help facilitate a seamless transition to the SPARK platform. We use an agile approach to onboarding and training, which allows for a more iterative and collaborative experience for our users. We want users to discover how SPARK will be most beneficial to them and take ownership of the platform. This high-level of dedication extends through the ongoing support phase, as we look to optimize SPARK’s use within your organization.

Frequently Asked Questions

What does “end-to-end" mean?

When we say that SPARK is an “end-to-end” cloud-based lending software, we mean SPARK takes you through the entire loan origination process using one program.

  • Leads: Starting with the sales process, we integrate web leads on the platform and then turn those leads into an application.
  • Intake: The business development officer gathers more information from the applicant and sends the completed application to underwriting.
  • Underwriting: Once the underwriters review the information complied by the sales team, they complete a financial analysis and present the loan application to an approval committee. Should the approval committee (or board) approve the loan, it seamlessly moves into the packaging stage.
  • Packaging / Closing: In packaging, packagers collect any and all additional documents needed to finalize the deal. For SBA deals, the loan application is sent directly to E-Tran through SPARK. 
  • Funding:  Finally, the closers and finance teams set up disbursements for the borrower.
  • Funded:Once all loan proceeds are disbursed, the funded loan is available for reporting purposes.

All of these steps are done on one shared platform. This is beneficial because it allows for complete transparency at each stage for lenders and applicants.

How do borrowers interact with the platform?

Built into SPARK is a “borrower portal” where applicants / borrowers upload files, complete personal financial statements, and request disbursements. Each user gets a separate login to ensure that information entered is secured and confidential. Lenders are notified when borrowers enter information and can access this information borrowers enter at any time. 

Who benefits from using SPARK?

Any small business, commercial, or SBA lender that wants to help make loan origination simplified. SPARK currently has clients spanning from a $4 Billion bank to a CDFI Microlender. SPARK is also a great fit for Lender Service Providers (LSPs) as the platform was originally designed for SBA 7(a) lending and fully supports the SBA lending process.

What makes SPARK different than other loan origination software platforms?
Collaboration. As and end-to-end cloud-based lending software, it allows lenders, applicants, and referral partners to collaborate on one site rather than pulling in information from multiple programs and sources. This streamline approach saves time for your organization, which may ultimately reduce loan origination times by using this software platform.

Automation. SPARK uses built-in logic to help create a loan package automatically based on the package characteristics. If your borrower is a Limited Liability Company (LLC), SPARK knows you'll need an Article of Organization for that particular loan. This logic helps make loan origination simplified.

Growth. SPARK's visibility enables managers to view loan packages at every step of the process and see what might be slowing down the loan origination process. Managers can also view trends month over month to identify areas of inefficiency, which can then be more easily addressed.

Do I need to have dedicated IT department to support SPARK?

No! You do not need to have a dedicated IT staff person to support the SPARK platform. SPARK has a dedicated support line that is staffed Monday - Friday from 8 AM - 4 PM CST. Additionally, each client has a dedicated customer success manager who is available to address any strategy questions associated with the SPARK platform.

Can SPARK connect with other systems?

Yes! SPARK has built-in integrations with DocuSign, FICO Liquid Credit, Laser Pro, TEA, and NLS. SPARK also supports API integrations that allow SPARK to communicate with third parties.

Is SPARK secure?
Yes! SPARK is a SOC® II compliant cloud-based platform that relies upon secure encryption technologies to maintain privacy of information throughout the origination process
Does SPARK have built-in servicing?

No. SPARK can address and solve most origination needs from inquiry to funding. For those problems we can't solve directly (such as servicing), we have options.

SPARK makes the process simple

Small business lending is complex, your lending platform doesn’t have to be.

Ready to put SPARK to work?

Take your small business lending to the next level. Find out how.