ranqx

Empower Your Credit Union to Be the Premier Small Business Lending Partner in Your Community

Small and medium-sized businesses (SMBs) are the backbone of our economy, but they often face outdated, complex loan application processes that hinder their progress. These processes not only make life more difficult for SMB owners but also drain resources for credit unions dealing with manual SMB credit underwriting.

Ranqx is here to change that narrative, offering a game-changing opportunity for credit unions. With our cutting-edge Digital Lending Platform, we can help you efficiently capture a significant share of the $1.4 trillion SMB working capital loan market, all while enhancing the member experience and contributing to a flourishing economy.

The Ranqx Difference: Making Small Business Lending Effortless

  • • Digital Application and Auto Decision in Minutes: Cut through the red tape with a fully automated process that delivers decisions to your members in under five minutes, 24/7.
  • • Cloud Native API-First Solution: We leverage real-time APIs, eliminating paperwork and streamlining the lending process.
  • • Supporting the Credit Union Mission: At Ranqx, we embody the “people helping people” ethos, aligning with your credit union's mission.

Working Capital Loans, Simplified

Ranqx simplifies the SMB lending landscape for credit unions offering:

  • • Overdraft
  • • Term Loans
  • • Business Credit Cards

SMB Benefits

  • • Save Time: Complete a two-minute digital application, removing friction from the process.
  • • Faster Approval: Receive a decision in under five minutes, ensuring that members get the funds they need promptly.

Credit Union Benefits

  • • Efficiency: Decrease origination costs by 80-90%.
  • • Growth: Serve more SMB members quickly, digitally scaling your SMB loan book and deposits.
  • • Accuracy: Leverage real-time data for better decisions and regulatory reporting.

Ranqx in Numbers

  • • 10x Growth of Your Small Business Loan Book
  • • 5 Minutes to Auto-Decision
  • • 80% Loan Processing Cost Savings
  • • Thousands of Data Points Analyzed per SMB Application

FAQs

Ranqx is dedicated to expediting digital lending for small businesses using real-time financial data, empowering credit unions to capture a 20% market share in commercial lending from banks and fintech companies. Ranqx helps credit unions offer vital financial services to their small-to-medium-sized business (SMB) members by providing a seamless, data-driven lending process, fostering economic growth and financial wellbeing.

Small and medium-sized businesses (SMBs) often require access to working capital at fair rates for operational expenses and expansion. Despite SMBs’ trust in credit unions, obtaining loans has been challenging. This has resulted in credit unions having a disproportionately low share in commercial lending compared to banks. Fintech companies are capitalizing on this gap, but often at high-interest rates. Ranqx’s Digital Lending Platform transforms this landscape, enhancing digital lending capabilities for credit unions by:

  • • Significantly reducing costs with streamlined digital processes.
  • • Allowing for a quicker market launch in weeks, not months.
  • • Customizing scoring and policy decision engines to unique rules.
  • • Enhancing data accuracy and compliance reporting.
  • • Enabling faster, more informed credit decisions using a broader range of data points.
  • • Real-time monitoring of businessperformance to manage risk efficiently.

Out of the 32 million small businesses in the U.S., 69% of applicants that applied for financing received none or less than they sought. Many have turned to non-traditional financiers. Ranqx empowers credit unions to eliminate the friction and inefficiency in small business lending, positioning them to gain market share from banks and fintechs while growing their small business portfolios.

Reach out to LEVERAGE Business Development Consultant at consult@myleverage.com to explore Ranqx’s offerings in greater detail. We’ll work with you to identify and evaluate the best solution for your credit union.

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