Powered by BLUE: A Borrower’s Guide

What does it mean to be “powered by BLUE™?” For years, this question has driven the Loan Mantra ethos. Though an acronym for “Business Lender Underwriting Environment,” the BLUE™ platform is far more than pith. It’s an ecosystem. Designed with the small business borrower in mind, the platform takes historically confusing and opaque financial services and digitizes them. The result? BLUE™ seamlessly connects borrowers with best-in-class lenders and capital.

Being “powered by BLUE™” also means users have access to important tools and education for financial success and you don’t have to be a tech wizard to achieve success. A first-time user can simply log in to Loan Mantra and input their basic profile via six prompts: Loan Amount; Business Profile; Business History; Personal History and Personal Financial Statements. If you’re the applicant, you need to input your data only once. Your information will auto-populate throughout the application and, most importantly, your information remains secure for future usage. This digital efficiency and security is why Loan Mantra can process your loan request in three days, while other venues usually require weeks (or in some cases, why some institutions are still waiting for your fax…).

The BLUE™ platform also updates and organizes your financial documents. This is valuable for returning Loan Mantra borrowers seeking additional capital, a loan restructuring, or business advisory services—because information continues to be stored and available for six years. As a user, BLUE™ will keep your financial documents private and your data securely organized from all prior lending transactions. This means your data is safe and ready when you need it next.

The BLUE™ platform is also designed for flexible, daily use. Simply log in to Loan Mantra to request a complimentary credit report; or engage the loan calculator to determine terms and amortization schedules associated with any potential loans.

One of BLUE’s most significant contributions to fin-tech is how it routes applicants through the application. Industry-related questions set the course of the loan application. And because each loan should be as individual as its applicant, BLUE™ technology allows for variances. Using a question-and-answer based system, BLUE™ routes applicants according to their various requests. Are you in need of SBA funding? Hoping to acquire capital to purchase a commercial property? A restaurant franchise? Maybe a gas station or a cell network? You respond to a simple drop-down menu regarding the nature of your loan; and, depending on your selections, BLUE™ will customize your application according to your intended use of capital. The same is true for every borrower. Decision-tree logic directions Loan Mantra clients to answer only the questions relevant to their loan or industry.

While the platform is deceivingly simple to use, it delivers on its promise of being a digital “environment.” BLUE™ is next level lending, constructed for both borrower and advisor. After applying for a loan, you—the borrower—are assigned a specialized Loan Mantra advisor. Your advisor works directly in the platform—and directly alongside you—in real time. A collaborative platform generates optimal results. By giving you access to the process, BLUE™ technology is removing silos that plague other financial transactions. In other words, if you can see your loan process unfolding, you can advocate for yourself as it does. The result: an efficient process, and a quality application ready for third-party involvement—and particularly for funding.

After you complete your application, your Loan Mantra advisor determines the appropriate institutional fit for your package. Even at this point, BLUE™ technology optimizes funding. The platform ensures your application meets every document request per bank or financial institution. And, because you decide whether to authorize third-party advisors to access your application digitally, the funding process can also be highly efficient. You spend less time dotting “i’s” and tracking down obsolete documents in dusty file cabinets; and spend more time building your business.

An ecosystem is determined by the people who use it. BLUE™ is built by borrowers and advisors who know what it’s like to build a small business and have an overriding desire to buoy up the Main Street community. In fact, this platform is reinforced by its companion, CLUE (or “Commercial Loan Underwriting Environment”), which offers the same superior technology to alternative commercial lenders. Regardless of whether you’re a borrower, advisor or lender, being powered by BLUE™  is valuable. It means you’re part of a streamlined, dynamic environment with the right tools to build your business.

Get powered by BLUE™ on Loan Mantra today!