Last month, Capital Access Network (CAN) revealed two new services that help banks find alternative funding for small to medium sized businesses who don’t qualify for traditional loans. Its Different Look and Pre-Look programs were developed to fill the gap between the increasing number of loan requests and the bank’s lacking ability to meet those requests with traditional loans.

Here’s how they work:

Different Look

After a small business’ loan application is denied, this reactive approach uses non-traditional underwriting methods that leverage CAN’s Daily Remittance Platform to find alternative funding products.

Pre-Look

Based on a client’s profile information, CAN uses its behavioral modeling, a consideration of 90 different variables, to determine who will need capital over the next 12-18 months. This proactive approach also leverages the Daily Remittance Platform, but allows the bank to offer the applicant alternative funding even before they apply for a loan.

Quick facts:

• 5 days: The amount of time it takes for new applicants to receive funding. Renewal customers can get funding in the same day they apply.
• $30,000: The average amount of funding provided.
• 75%: The percentage of businesses that are willing to renew funding

To learn more about Capital Access Network, watch its FinovateEurope 2011 demo.