Helping small businesses access finance quicker with automated loan-origination processes

Small businesses rely on finance options to purchase and upgrade the assets that are essential to their growth. Traditionally, applying for finance was a time-consuming and frustrating process for the customer, requiring extensive paperwork and a lengthy wait for a decision.

Luna Connect is revolutionising the loan-origination process, utilising automation technology to help traditional lenders compete online and to help small business owners access finance quickly and effectively.

Recently, we worked with Irish company SME Finance & Leasing to increase their market share by providing a convenient and easy-to-use online solution for their borrowers.

Small business lending

SME Finance & Leasing provides leasing, asset finance and hire purchase to small businesses and farmers across Ireland. The Kilkenny-based company, who pride themselves on providing excellent customer service and a fast lending decision, recognised that to compete they had to invest in digital technology to get their service online efficiently.

They wanted to deliver a streamlined process for the borrower, while reducing their own operational costs and chose Luna Connect as their partners for this.

With Luna Connect’s automated loan-origination product, the customer experience is improved with a self-service online application process, available 24/7, and real-time analysis of the data gathered during the loan application process. This allowed SME Finance & Leasing to give a decision, faster.

Luna Connect integrates with Anchor Computer Systems Sentinel Loan Management Software for an end-to-end solution, while the automation of processes and integration of data sources, such as open banking, company data and credit checks, reduces paperwork and the associated costs.

"We are delighted to partner with Luna Connect to automate the end to end lending journey for SME Finance and Leasing" said Paul O'Sullivan CEO of Anchor Computer Systems.

Online growth for lenders

"At SME Finance & Leasing we provide a range of finance options for your business. We pride ourselves on providing a flexible finance option through excellent customer service and industry knowledge. Partnering with Luna Connect we have now enhanced the streamlining of the loan application and turnaround times." said Eugene O Donovan, CEO of SME Finance & Leasing.

“We are delighted with the overall reduction in costs for the business as a result, and improved efficiency for both us and our customers.” he continued

"SME Finance and Leasing are delivering much needed finance to the SME sector in Ireland, at Luna Connect we are excited to work with innovative companies like SME Finance and Leasing and support them with our digital lending platform" said Brian D'Arcy, CEO of Luna Connect

Luna Connect

To find out how Luna Connect’s automated loan-origination product could help your business grow, get in touch with us today for a free Digital Lending Consultation.