Golden Pacific Bank in California has created a new lending subsidiary to provide SBA loans for small mid-size business enterprises (SME). The program called SmartBiz uses an advanced technology platform that allows the bank to reduce the cost of borrowing and extend credit more efficiently to creditworthy SMEs.
The lending platform was developed by the firm BillFloat. The technology enables SmartBiz to efficiently originate, process and close SBA loans. The cost of processing loan applications