News by SB Informer

Internet Company Eyes Big Business in Small Business Finance Network For 2007

 

iBank.com sees sales skyrocket in 2006. The company expects 2007 to exceed all goals and expectations.

By Manar Sleiman
SB Informer Contributing Author
Tuesday, December 5, 2006; 01:31 AM

COSTA MESA, Calif. – iBank.com powered by Credentrust Software, heads into 2007 with increased sales, revenues and media exposure. The company, started by Tom Markel in 1999, has seen continuous growth every year since its inception. iBank.com, America’s largest commercial finance network, has three distinct centers; the Finance Center, Insurance Center and the newest one, which is the Capital Center.

“Coming from a family history steeped in small business ownership, it’s wonderful to see iBank.com expand into a thriving, growing business where our beliefs and ideals are the cornerstone of Credentrust Software,” said Markel, CEO of Credentrust Software. “We see the Internet offering small businesses real-time connectivity to a network of lenders, insurers and investors globally”.    

The growth of ibank.com has been phenomenal. Using over 10,000 keywords on the major search engines, providing the online platform to other web sites and extensive media coverage has grown ibank.com from 200 small businesses seeking loans in January 2004 to over 85,000 in October 2006.   Loan posting needs by small businesses have grown 373% in 2006, and the advance lender search engine is up almost 6000% since its inception in 2005. These incredible numbers represent just the commercial mortgage numbers. On the insurance side, launched in April 2006, the center has seen tremendous monthly growth. The new small business insurance center is up 193% since earlier in 2006, while the Capital Center postings have experienced growth of a staggering 934 applications in six weeks.    

“After years of trial and error we have finally found an online company that is doing loan finance processing right,” said Gary H., President of Creative Capital Associates, Inc. “iBank has built a robust behind the scenes solution that allows lenders to fully customize their loan criteria. From our perspective it provides an easy to use interface with prospective borrowers and expedites their requests for financing."

With iBank.com’s proprietary online secure vault, a business can create, upload and store their entire business file cabinet of information online. The business then chooses the application type within the vault, data from the vault will pre-fill all the necessary information needed to build a professional Digital Investment Package (DIP), then click submit, and hundreds of prequalified lenders, brokers, banks, insurance agents and investors nationwide are notified instantly. The interested parties can then log on to the applicants vault and review the materials. The vault is easy to use, and is self guided which gives the business a step by step guide to build a DIP and eliminates paper, fax, and postage. The business can access their DIP anytime, anywhere and then seamlessly connect for reviewing financial or investment proposals.    

The future of iBank.com and Credentrust Software is limitless. The numbers shown prove that small business owners visit and use the services provided by iBank.com, which results in increases of small business loans, commercial mortgage loans, increased insurance products and equipment leasing loans and investments. Higher yearly numbers are good for small businesses, companies that service the small business, but most importantly, it means a thriving American economy.

About iBank.com
Based in Costa Mesa, Calif., www.iBank.com, America’s largest online small business lending engine, has become a commercial lending marketplace for businesses seeking venture capital and angel investors, small business loans, equipment leasing, business insurance and commercial mortgage loans in real time. Formed in 1999, iBank.com utilizes advanced search engine technology, a do-it-yourself professional online loan package builder, and numerous other online tools for communication and connecting with more than 250 lenders nationwide for closing loans faster. The whole process, eliminates about two-thirds of the time and cuts 90% of the cost involved.

The author is a Cal State Fullerton graduate with a BA in Communications-advertising and a BA in Liberal Studies.

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