SPARK for Banks
We help community, regional, and national lenders eliminate the pain of SBA 7(a) loan processing, generate more loans, and create a more streamlined customer experience.
Security and Compliance
SPARK is a SOC 2® compliant cloud-based platform that relies upon secure encryption technologies to maintain privacy of information throughout the origination process.
Extend your brand awareness by applying your organization’s brand elements to system-generated documents.
SPARK for Lender Service Providers (LSPs)
We help LSPs ease the hassles of origination, disbursement, servicing, and liquidation of SBA loan portfolios, adding greater value to their businesses.
Achieve maximum productivity — anywhere, any time — to make your SBA loan origination process accessible and effective.
Direct-to-SBA Application and Documentation Submission
Experience the advantage of faster application and closing timelines with a fully integrated system.
SPARK for Mission-Driven Lenders
We’re dedicated to helping communities create outsized economic impact with SBA 7(a) loans, the backbone of community-based business investment.
Access to Marketplaces and Resources
Drive more leads and close more loans for deserving borrowers.
Data Collection and Reporting
Track trends in processing time, funds disbursed, and more with integrated measurement and reporting tools.
Frequently Asked Questions
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.
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.
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.
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.
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.
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.
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
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 for Lender Service Providers
For LSPs seeking a complete solution for all aspects of SBA origination.
SPARK for Mission-Driven Lenders
For mission-driven organizations seeking a streamlined platform with built-in access to SBA products.