Prior to the COVID-19 pandemic, most Small Business Administration loans were distributed through large banks. Smaller banks and community lenders didn't have established relationships with the SBA.
The Paycheck Protection Program was stood up to help businesses during the pandemic. But initially, many community lenders didn't have access to loan distribution. Local lenders wanted to help businesses in their communities. But they needed a connection to E-Tran, the system used by the SBA to process and approve loans.
Fearless worked with the SBA to set up Lender Gateway. The modern and intuitive system made it easier for lenders of all sizes to process loans. More than 100,000 loans representing hundreds of thousands of jobs and businesses were processed using Lender Gateway in 6 months.
This announcement was published independently of the Small Business Administration (SBA). This release does not constitute or imply an endorsement by SBA or the United States Government of the product, process, or service, or its producer or provider. The views and opinions expressed in any referenced document do not necessarily state or reflect those of SBA or the United States Government.