Industry Source Networks Announces LoanManager(TM), the fastest way for Small Businesses to access the $30 Billion Obama Small Business Loans Program
Industry source networks bridges the gap between the Obama Stimulus plan and getting money in to the hands of small businesses. The Industry source loanManager provides an easy, efficient and attainable path for small business to obtain loans nation-wide
- Seattle-Bellevue-Everett, WA (1888PressRelease) September 19, 2010 - Industry Source Networks announces the Industry Source Loan Manager™, the easiest and most time efficient way for small businesses to get loans from community and regional banks. Small businesses have struggled to get bank loans due to:
1. Inflexible criteria used by large banks which disqualify most small businesses from obtaining a small business loan.
2. Daunting amount of paperwork and difficult loan process.
3. Inability of small business owners to communicate their circumstances in a way that fits banks' underwriting requirements.
The $30 Billion Small Business Loan Program came into existence because of the very low rates at which small business loans have been approved by the large banks. The National Federation of Independent Business reported that in 2009 less than 27.4% of all small businesses were able to get sufficient funding from bank loans. Some banks have been cutting back on small business financing even for creditworthy small businesses that have grown their businesses during the recession.
"Our business has been growing throughout the recession," said Timothy Barry CEO of Intelligent Technologies Inc., a Vancouver, Washington retailer, "and we have never missed a loan payment yet our bank pulled our line of credit without warning."
Industry Source Networks has addressed the challenge of getting small businesses through the approval process with their LoanManager™ system. Industry Source Loan Manager provides an easy, efficient and attainable path for profitable small businesses to get approved for a loan.
The Industry Source LoanManager consists of:
1. Industry Source LoanOrganizer: Tells small business owners what information they need to find and helps them organize the information.
2. Industry Source LoanApprover: Takes the small business' financial information and runs it through a screening process similar to the banks and assists the business to resolve issues that a lender may find objectionable.
3. Industry Source LoanMatcher: Matches the small business owner to the bank that is most likely to lend them the money they need to grow their business.
4. Industry Source LoanTracker: Tracks the loan application and resolves issues early in the process to maximize the chances for a quick approval.
Industry Source LoanManager™ significantly increases the probability that a small business will be approved for a loan and also frees the small business owner to focus on their business rather than spending time with the laborious loan application process. Industry Source Networks has a large network of regional banking partners and makes sure small businesses are connected with the bank that best matched their approval criteria. Industry Source LoanManager™ is always free to use until after a small business successfully gets approved for a loan.
"Our goal is to ensure that every small business that is capable of getting a loan, gets a loan," said Othniel Palomino, CEO and co-Founder of Industry Source Networks. "Industry Source Loan Manager is the easiest way to find small business lenders and the most efficient way to organize and prepare for the loan approval process."
Industry Source Networks is the leading business profitability network for small business. The founding team has over 60 years running and managing small and medium sized businesses. Industry Source Networks was founded out of a frustration that small businesses cannot get the same financing or terms as larger businesses. The company is passionate that small businesses are the primary drivers of our economy but are not treated with respect they deserve. The company shares a strong belief in the power of the free enterprise system and are committed to creating a competitive marketplace for financing creditworthy small businesses. The founders are passionate that every small business that should get a loan, gets a loan and that small business is the foundation for a strong community and country.