The Independent Community Bankers of America (ICBA) announced StreetShares, a fintech company that provides technology specializing in small business underwriting and business lending solutions, as its newest preferred service provider (PSP).
“StreetShares’ digital lending solution is a powerful crediting and decisioning tool that offers community banks a robust and efficient means to address the lending needs of small businesses,” Kevin Tweddle, ICBA senior executive vice president of community bank solutions, said in a release. “It’s more important than ever to deliver critical financing into the hands of those that need it most and the StreetShares platform offers another channel for community banks to engage with small businesses and efficiently fulfill their lending needs.”
According to the ICBA website, PSPs are companies dedicated to the community banking industry nationwide and provide a tangible benefit to ICBA members through a discount, dividend, or educational offering not available to nonmembers. StreetShares joins companies such as Dell Technologies, Travelers, Wolters Kluwer, and Finastra.
StreetShares offers a program called Atlas, a business-lending platform that provides an on-demand, web-based experience that is easily enabled and configured. With Atlas, borrowers can apply for a loan and receive a loan decision within a day.
“As a proud ICBA member for several years, StreetShares is excited to be chosen as the newest PSP,” StreetShares Vice President Sanjay Bhaskar said. “StreetShares is a veteran-founded and run firm and our mission is to provide best-in-class lending technology to community banks. We have witnessed the amazing work done by community banks throughout the pandemic to provide critical funding to American small businesses, and we are proud to support these efforts.”