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Rapid Enterprise and LoanPro Partner on Lending-as-a-Service for Small Businesses

SMBs, small businesses, loans

Rapid Enterprise, a division of Rapid Finance, has partnered with LoanPro to provide Lending-as-a-Service (LaaS) solutions to small businesses across the United States.

This collaboration brings together Rapid Enterprise’s cloud-native digital end-to-end loan origination software (LOS), Decisioneer, and LoanPro’s API-first lending and credit platform, the companies said in a Thursday (Jan. 25) press release.

“Together, our organizations are leveraging the latest technology to help enterprises modernize their lending programs and provide them with the tools they need to grow and succeed,” Rapid Finance CEO Will Tumulty said in the release.

By integrating these platforms, Rapid Enterprise aims to enhance flexibility, customization and efficiency for lenders, while also providing a seamless experience for borrowers, according to the release.

Rapid Enterprise’s Decisioneer offers a scalable and modular platform that connects lenders with real-time accounting, tax, know your customer (KYC) and know your business (KYB) data, the release said. This integration significantly increases underwriting efficiency and reduces credit losses by identifying risks earlier in the process.

The integration of Decisioneer with LoanPro’s lending platform allows for a seamless transition from loan origination to management and servicing, per the release.

This integration creates an enhanced experience for both front-office customers and back-office users throughout the application, onboarding and servicing processes, according to the release. Decisioneer’s borrower portal and portfolio management module for loan officers and underwriters integrates directly with LoanPro’s platform, enhancing the overall lending experience and cultivating deeper borrower relationships.

Rapid Enterprise’s integrated LaaS solutions cater to enterprise clients, enabling them to leverage the Decisioneer LOS and LoanPro’s loan management and servicing platform, the release said. This partnership empowers enterprise customers to increase operational efficiency, simplify the loan lifecycle and create unique loan programs tailored to their specific target customer segments.

This integration with LoanPro follows two other partnerships announced by Rapid Finance.

In November, the company teamed with spend management platform Ramp to provide small businesses with faster access to capital. With this collaboration, small businesses on Ramp’s platform can now gain preferred access to Rapid Finance’s financing options.

In May, Rapid Finance integrated with Mambu‘s loan management system to offer lenders a seamless transition from loan origination to servicing. This integration provides Mambu’s customers in the small and medium-sized business market with a lending experience that is streamlined and digital. 

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