The announcement of Financeit’s new loan application process may not resound with the crescendo of multi-million-dollar fundings. But my guess is that the businesses who rely on Financeit to help them offer financing services to their customers are pretty pleased at the news.
Simplification and a clearer, through-line taking customers from the beginning to the end of the loan application process is the goal of the redesign. Here are the features of the “new Financeit experience”:
- eSignature functionality to sign and submit documents online
- Better notifications in real-time on loan status and other updates
- Improved design provide single-click access to borrower, loan, fee, and commission details
- New technology powers drag and drop document submittal
Financeit specializes in providing businesses with the ability to provide point-of-sale loans to their customers. With interest rates as low as 7.13% APR, Financeit borrowers can finance between $500 and $50,000 for up to 15 years. Based in Toronto, Ontario, Canada, the company has processed more than $650 million in loan applications from more than 3,400 partners.
Founded in 2011, Financeit is led by CEO Michael Garrrity and has raised more than $21 million in funding. The company demoed its technology most recently at FinovateFall 2013.