Small Business Lending Solutions
Everything you need to optimize the loan origination process.
SPARK for Banks
Helping community, regional, and national lenders eliminate the pain of SBA 7(a) loan processing, make more loans, and create a more streamlined customer experience.
SPARK is a SOC® II compliant cloud-based platform that relies upon secure encryption technologies to maintain privacy of information throughout the origination process
Extend your brand presence by applying your own brand elements to system generated documents
SPARK for Lender Service Providers
Helping LSPs ease the hassles of origination, disbursement, servicing, and liquidation of SBA loan portfolios, adding greater value to their businesses.
Maximum productivity, anywhere and at any time, to make your SBA loan origination process accessible and effective.
Direct-to-SBA application and documentation submission
A fully integrated system that gives LSPs and their clients the advantage of faster application and closing timelines.
SPARK for Mission-driven Lenders
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
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?
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?
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.