Data-Driven Small Business Direct Lender Drives Continued Momentum by Investing in Proprietary Data and Analytics, Technology, and Product Innovation
ForwardLine, a nationwide direct lender providing affordable loans to small businesses, has announced strong results for third quarter 2018, achieving a 350% increase in loan originations over third quarter 2017. The company attributes its growth trajectory to strategic investments in technology, enhanced analytics, and an improved overall customer experience.
Celebrating 15 years in business this December, ForwardLine has funded almost a half-billion in loans to over 15,000 of America’s small businesses. The Company is deeply committed to improving the financial health of small businesses and provides a consultative, personalized experience to ensure it’s loan products meet the needs of small business owners.
“We’re excited about the incredible growth throughout the year,” said Steve Carlson, FowardLine’s CEO. “Ultimately, we’re committed to serving America’s small business owners by making it as easy as possible to obtain working capital. Most of the investments that we made this year were aimed at increasing our analytics capabilities, along with improving operational efficiency, so that we can continue to serve our customers by providing funding options that drive their businesses forward.”
Additional growth highlights include:
- Enhancing direct marketing capabilities with robust analytics, expanded risk profiles, and digital multi-touch campaigns.
- Launching ForsightTM 3.0, the third-generation of ForwardLine’s proprietary multi-scorecard algorithm that deepens credit risk profiles, while mitigating risk.
- Deploying a mobile-first application that delivers a fast and seamless online application experience.
- Investing in technology and tools to enhance underwriting processes and reduce fraud.
- Increasing customer lifetime value with new products focused on deepening customer relationships.