Rapid Finance was named “Best Business Lending Product” in the 7th annual 2023 FinTech Breakthrough Awards, recognizing the top companies and products in the financial services and technology industry.

Traditional small business and SBA loan decisioning is more complex than other financing options, usually taking weeks (or even months in some cases) to process and get liquidity to small businesses in need of capital. This leaves many small business owners in a state of limbo while waiting for a decision, regardless of denial or approval.

Through its digital end-to-end lending platform, Rapid Finance has automated the small business lending process and accelerated decisioning time for business owners. Data enhancements and integration of real-time customer data permit lenders to collect and analyze user documentation through automated processing for a faster and more efficient transaction. As a result, SMB lenders are able to drive a more efficient and intelligent decisioning process while improving operational productivity for staff.

“We appreciate the recognition from the Fintech Breakthrough team,” said Will Tumulty, CEO of Rapid Finance. “Being a small business owner is challenging, and we understand what business owners are facing. Our platform has been thoughtfully designed to meet the needs of our lender and financing partners and their small business customers, helping them to more quickly gain access to the vital capital that they need to help their businesses thrive.”