What is Connect Lending’s PALMS Platform?
When reviewing financing options, a business owner might go to their local bank to secure a business loan. That bank may not have a financial product to support their business type, as lenders have very specific lending criteria and usually focus on niche markets to build their portfolio. With this in mind, we designed the Proprietary Algorithm Lending Matching Software (PALMS) Platform to bring together lenders and business owners in one marketplace to connect business owners/borrowers to lenders who have a high likelihood of approving a loan. Each lender and business owner fills out a profile for their company lending criteria and funding priorities (how funds are used, when funds are needed, etc). Our system is engineered to provide the best match between lenders based on their specific loan criteria with borrower’s answers. We work every day to make the challenge of obtaining business financing a little easier.
How does the PALMS Platform work?
- Create a free profile on Connect Lending, either as an borrower, advisor or lender.
- Business owners complete a short questionnaire through our PALMS platform, with optional guidance from an advisor. The questionnaires are then sent to lenders.
- Our system analyzes the submitted questionnaire answers to match with lenders that fit the business owners company profile and funding needs.
- Matching lenders are introduced to the business owner and can ask follow up questions to the business owner directly to structure the loan offer appropriately.
- The business owner chooses the lenders to work with for funding solutions. Final loan applications are completed by business owner and the chosen lender.
Throughout the process, Connect Lending team is available to answer questions from the business owner, advisor, or lender. Our goal is to connect every client with a fair loan, great service, and the funds they need to grow their business.