Atlanta, GA (PRWEB) February 26, 2014
IOU Central, a leading online small business lender, announced today that borrowers can now receive funds as quickly as within two hours after execution of the loan approval document. This streamlined process is especially beneficial to small businesses that need capital to seize a time-sensitive growth opportunity, enabling extremely fast funding for increasing inventory, replacing equipment and other critical business needs.
IOU Central’s lending process is ideal for small business owners who are busy growing their business but are either unable to secure a traditional bank loan or want to avoid the time-intensive paperwork banks require for loan applications. Using technology, IOU Central has reduced the loan process from weeks or months to one that can be completed easily and quickly online. It does this in part by relying on data provided via third-party APIs instead of being manually submitted by the applicant. For the small business owner, this means fewer pieces of documentation to provide and a quicker, more efficient loan application process.
“We’re constantly looking for new ways to make the lending process simpler and even more beneficial for small business owners and our broker partners,” said IOU Central President and COO Robert Gloer. “And now, rather than waiting days, once the loan is approved, small business owners can have the funds in their bank accounts within two hours.”
About IOU Central
IOU Central is a leading online lender specialized in helping small businesses with healthy cash flow. Typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees and ecommerce companies. In a unique approach to lending, IOU Central’s advanced, automated application and approval system accurately assesses applicants’ financial realities, with an emphasis on day-to-day cash flow trends. It makes small business loans of up to $100,000 to qualified applicants within a few business days, with affordable charges favorable to cash-flow management. IOU Central’s speed and transparency make it a trusted alternative to banks. Based in metro Atlanta, Georgia, IOU Central is a privately held subsidiary of IOU Financial (CNSX: IOU), which is headquartered in Montreal, Canada. For more information, visit http://www.ioucentral.com.
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