Elite Engineering Teams Can Work Side-by-Side with Banks to Create Tailored Lending System and Solutions
Assembled Brands, a leading financial technology company and capital provider for small businesses, and Fractal Technology, a unique software development partner for innovative and evolving companies, today announced the launch of Assembled Financial Technology (“AFT”). Developed by some of the most sophisticated and experienced programmers in the world, AFT has created a software solution that provides lenders in the Small Business Administration (“SBA”) 7(a) loan program with the ability to enhance and automate the process that has prevented vital resources from reaching the businesses that most need support during this unprecedented pandemic.
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“Now, more than ever, small businesses across America need quick access to capital. Clearly, there is an extremely urgent need for funding; it’s a race against time”
At a time when millions of small businesses are seeking to access the nearly $400 billion allocated in the Paycheck Protection Program (“PPP”), it is critical that the systems connecting prospective borrowers with banks and the SBA work seamlessly. The AFT software creates a process to enable seamless, automated connections between applicants and lenders by implementing an innovative suite of software tools within the lender’s existing infrastructure, thereby expediting processing times, enhancing monitoring capabilities and providing verification for loan forgiveness. Enhanced integration will also benefit the thousands of technology and consumer companies interacting with banks through their own financial service offerings.
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With backgrounds ranging from the Department of Defense and Space Force to blue-chip companies and financial institutions such as Goldman Sachs, J.P. Morgan, Apple and CoreLogic, AFT’s experienced engineers are positioned to embed alongside the lender’s existing development team to create a tailored, customized system to the benefit of all participants. As a result, banks can rapidly increase loan origination and approval capacity, and smooth out workflows, ultimately providing more capital to the businesses that need it most.
“As a partner and resource for small businesses across the country, we understand firsthand the impact that uncertainty can have on a company and the livelihood of its employees. Small businesses are the foundation of the American dream and our mission from day one has been to preserve and cultivate that legacy,” said Adam Pritzker, Founder and CEO of Assembled Brands. “Through our continued commitment to rapidly and transparently underwriting small business financing and offering data insights through best-in-class software, we have built the tools required for automated loan processing and portfolio monitoring. Seamlessly connecting borrowers, lenders, and the SBA is a necessary step in upgrading our financial infrastructure. We are prepared to support borrowers, lenders, and the government in both the PPP program and across the broad small business lending spectrum.”
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