KeyBank Enhances Small-business Lending with New Digital Capabilities
CLEVELAND — KeyBank recently announced the acquisition of a digital lending platform for small businesses created by Bolstr. The software, expected to be implemented in 2018, will enable KeyBank to provide faster and easier access both to SBA loans and to traditional capital for business owners.
This move accelerates KeyBank’s ability to serve small businesses by expanding their access to capital and quickly delivering credit solutions through an online application process and enhanced digital capabilities.
“KeyBank is deeply committed to helping small businesses thrive and to providing them with the funding they need to grow,” said Jamie Warder, head of KeyBank Business Banking. “Bolstr’s technology transforms the small-business lending process and allows us to more efficiently serve small businesses for their SBA and traditional lending needs.”
Founded in 2010, Bolstr was designed to provide flexible loans that are specially tailored to small-business owners. With Bolstr’s technology, KeyBank will be able to digitally accept and process loan applications significantly faster, greatly reducing the time and paperwork it takes to process these requests.
“We are excited to work with an organization that is dedicated to helping communities and small businesses prosper,” said Charlie Tribbett, co-founder of Bolstr. “By combining our digital expertise and KeyBank’s industry knowledge, business owners will receive exceptional service and the efficient lending experience they need to be successful.”