How Can We Partner? Why Should We Partner?
Funding for the Customer
First and foremost, a referral partnership with Bankable provides another funding option for small businesses that aren't presently ready for traditional financing. That's our mission.
Bankable offers strictly business term notes. No deposits. No wealth management. No credit cards... you get the point. That means the relationship stays with the bank, and you get to say "yes" instead of "no".
Bankable is committed to tracking where referrals come from, and monitoring the progress of the business. When they're ready, we send them back to you to continue their lending needs.
Bankable can take a subordinate position on collateral to fill a funding gap on larger projects that are beyond the bank's comfort level.
With rates starting at 8%, Bankable loans are a smart and affordable alternative to dangerous online high interest rate lenders.
Partners Not Competitors
Borrowers are required to pass several "no credit elsewhere" tests to ensure they in fact are not yet "bankable". Over 80% of all closed loans have come directly from a bank referral.
How to Make a Handoff
Referral partners can connect potential borrowers with Bankable through an introduction to one of our team members or directing the customer to apply on the Bankable website. Microloan Grader can help to get a quick idea of whether or not an applicant may be a good fit for a loan from Bankable. Information used for loan grading is not stored or submitted so users can feel free to play with the tool and try grading at different loan amounts to find what the right amount may be.