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Dealstruck Unveils Interactive Line of Credit Borrower Portal at FinovateSpring 2015
San Jose, Calif. – May 12, 2015 – Today at FinovateSpring 2015, online direct lender Dealstruck unveiled a new Line of Credit Borrower Portal – its latest technology-driven effort to help small- and medium-sized businesses (SMBs) better manage their financing.
Adding multiple layers of interaction, the new borrower portal enhances the way SMBs manage their working capital needs through Dealstruck’s revolving line of credit products. In addition to making general updates to their accounts, the portal is a one-stop-shop that lets SMBs:
View their current balance and amount available for draw
Update invoices directly from their accounting systems
Immediately apply payments received from customers to pay down outstanding balances
Review the trade credit of each of their own customers
“At Dealstruck, we are constantly finding creative ways to develop technology that makes financing easier for our customers,” said Ethan Senturia, CEO, Dealstruck. “While the lender-borrower relationship might still depend on human interaction, the introduction of the borrower portal provides our borrowers with another avenue to access and manage their loans at their preference.”
Dealstruck is focused on delivering unique, appropriate and affordable products to SMBs in the mid-prime market. Over the past year, the company has expanded its customer base into 43 states and launched three core products — a term loan, an asset-based line-of-credit and an inventory line of credit. It also recently secured $8.3 million in equity funding led by Trinity Ventures and a new $50 million credit facility led by Brevet Capital Management, LLC (“Brevet Capital”) for lending to small business customers. Since its launch in October 2013, Dealstruck has loaned more than $50 million to fuel small business growth.
The line of credit borrower portal launched today and is available to Dealstruck borrowers nationwide.
The Dealstruck lending marketplace connects profitable, small- and medium-sized businesses (SMBs) with innovative credit solutions funded by individual and institutional accredited investors. Unlike the one-size-fits-all approach offered to them by banks and the high-cost, short-term credit offered to them by alternative lenders, Dealstruck provides growing SMBs with a suite of products that give them a credible and transparent path to bankable. Dealstruck is the first online lending platform to offer multiple products to SMBs, and the first to allow investors the freedom to choose specific investments. For more information, please visit https://www.dealstruck.com/.
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