DURHAM, NC—Community lenders have lagged behind commercial banks in implementing technologies which increase efficiency and decrease lending costs. Consequently, every year funds which could support community lending go to waste on inefficient origination systems. Also, in crises like the coronavirus pandemic lenders need a system that works at vast scale.
LoanWell is an end-to-end platform for community lenders and grantors with intake, origination, underwriting, closing, servicing, & reporting all in one platform. The system can be custom branded and and is designed with flexibility to meet the unique needs of each lender.
Now that LoanWell has been selected for Google for Startups (2020) and become the platform of choice for many lenders, its tremendous impact will only grow. From LoanWell’s Durham headquarters—once a city with its own Black Wall Street—LoanWell’s interracial founder team aspires to renew disinvested communities and underrepresented businesses across the U.S. by equipping lenders with 21st century technologies.