Dealstruck’s newest innovation, the Borrower Portal, provides small business owners with better control and transparent access to account information for their Accounts Receivables based line of credit solution. Through the portal, borrowers will be able to seamlessly manage their revolving line of credit, increase availability by matching invoices, and take draws with the click of a button. Dealstruck developed proprietary technology to power the Borrower Portal and is the first lender to offer an online seamless experience for Asset based lines of credit.
- Users will be able to view/control all activity on the line of credit through the portal.
- The dashboard screen provides relevant information such as remaining availability, current balance outstanding, and the number and amount of payments recently received from customers.
- The account updates automatically every night by pulling information directly from Quickbooks and from Dealstruck’s banking partner.
- The information from users’ accounts receivables is used to calculate borrowing base, and the math is transparently displayed to users.
- Portal users can look at details regarding their customer collections in a paper-less mode, including a review of invoices, payments, and checks. To keep collections information up-to-date, users can simply click a Accept Payments button.
- Through an integration effort with Cortera Business Credit services, users of the Dealstruck can easily verify the identity of new customers and get mini credit reports on the new customers. • All of these factors help determine the amount of money users can draw on the line of credit and the portal allows users to understand how their available balance is calculated. The final step is to simply enter the amount needed and click Draw Funds.
Dealstruck is an online direct lender and the first to offer multiple products -- including flexible term loans and multiple line of credit solutions -- to small- and medium-sized business (SMB) owners. With a mission to provide growing SMBs with access to capital that is unique, appropriate and affordable with honesty and transparency, Dealstruck is committed to placing SMBs on a credible path to bankability. For more information, please visit www.dealstruck.com