At SPARK, we’re obsessed with SBA. We’ve seen its inner workings. We’ve built a product centered around it. We understand the positive impact SBA lending can have on our communities, particularly in challenging times.
That’s why we challenge anyone to find a platform better suited to SBA than SPARK.
We spend a lot of time thinking about how to make the SBA loan origination process smoother and simpler for the average small business owner — a lot. That’s because, until now, SBA lending has been:
- Confusing and complicated
The combination of complex program and eligibility requirements and complicated/lengthy forms means even the most savvy and experienced lenders can get tripped up by the rules of SBA lending.
- Difficult to navigate without experts
Hiring (and retaining) strong SBA talent has always been hard. Today, these professionals are in especially high demand due to the impact of the pandemic on small businesses and the anticipated increase expected in government lending.
- Overwhelming with required documents and forms
The sheer volume of information an applicant must provide to the SBA can be significant. It becomes very time-consuming for both the borrower and the lender, who must engage in back-and-forth conversations for clarity and status updates.
Without seamless SBA loan origination technology in place, lenders are overworked, borrowers are frustrated and confused, and more small businesses are left struggling.
We know it can be a lot easier than that.
SPARK Knows SBA
At our founding, we set out to simplify SBA loan origination by making it completely digital. We were built by an SBA lender, meaning we’ve spent years entrenched in small business lending, developing relationships with the agency, accumulating deep SBA knowledge, and curating a team of experts who have been exactly where you are as lenders, processors, closers, and managers.
It doesn’t matter what type of SBA lending your team does either. Whether you’re a bank, LSP, or mission-driven lender, our SBA-specific features can help you do it better. We’ve intentionally designed SPARK to simplify small business lending with:
- Lightning fast start-up through pre-configured products that make it easy to start submitting. Most lending software provides SBA tools as add-ons, but SPARK’s complete SBA solution comes out of the box.
- Dynamic data requests that prompt new inquiries based on how applicants answer earlier questions.
- SBA eligibility tracking, flagging issues early and often so loans aren’t processed until applicants demonstrate 100% eligibility.
- E-Tran integration to submit applications and documentation directly to the SBA right from the platform.
But SPARK’s value to SBA lenders goes well beyond functionality. We’ve designed the platform to help you:
- Work more efficiently with automated workflows designed to eliminate data rekeying and manual work.
- Confidently guide and advise your borrowers by better understanding and tracking the SBA process, so you have answers when applicants have questions.
- Make decisions and close loans faster by tracking progress in real time so you know what’s still outstanding.
- Provide better customer experiences that eliminate back-and-forth conversations and frenzied gathering of required documents.
- Attract more business from customers who have heard about the simplified experience of securing capital with you.
A New Era of SBA Lending
At SPARK, our mission is to build a more inclusive economy that drives prosperity for all small business owners. But current SBA processes are clunky, confusing, and business-stopping, keeping banks and the customers they serve from reaching their potential.
We’re pioneering a new era of reimagined small business lending that makes SBA loan origination simple and equitable for all. We’re here to make SBA loan origination smarter — so more people have access to the capital they need.
Read all about it in our latest report, Small Business Lending: Reimagined or join us in inclusive, hassle-free lending by contacting us today.