Just the Facts With LendFax

More than 76% of small business owners who apply for financing through their system do it from a mobile device. That’s the fax from LendFax, a one-stop shop for business owners (and consumers) to be paired with the most appropriate service provider for their needs. The information they submit through the curated intake process is pushed to their partners via API, and then LendFax continues to communicate with those customers to make sure they complete the process with them.

Nick De Jesus, LendFax’s Chief Marketing Officer, says that the process relies on enterprise-grade infrastructure to make it all work and is the culmination of years of in-house development and an obsessive desire to achieve the most optimal outcomes for all parties in the process.

“I’m working non-stop, 12 hours, 13 hours a day on this, 100% passion, I couldn’t see myself doing anything else,” De Jesus says of his time spent at LendFax.

That he’s there doing this at all is due to a chance intersection in his life. For example, De Jesus had been on an accelerated track in college and was bound for medical school at an extremely young age. His special area of study as a nineteen-year-old was heterotopic ossification and involved researching bone formation from trauma and soft stem cell tissues. And that was the path he had surrendered himself to until one night, a few acquaintances asked for his input on a tech project involving small business financing, thinking his broad knowledge could be insightful. But what De Jesus learned from them had him hooked immediately, and he dropped everything to be a part of it.

“I finished my cell biology exam and the next Monday I was in [their] office,” De Jesus said.

De Jesus says that they’re aware that LendFax isn’t the only operator of their kind in the space, but that by being lean and running efficiently, partners on their platform can get “enterprise infrastucture without the enterprise pricing.” Depending on the relationship setup, partners can get as little as a merchant’s qualified and completed application or as much as the entire deal with full docs, all managed by LendFax and ported into the partner’s CRM in real time.

De Jesus is a regular at the big trade shows and stressed just how important in-person relationships are in this field, but noted that the merchant side is different, that merchants looking for financing have trended toward solutions that produce the least amount of friction and interaction along the way.

“…things are moving definitely more to the digital landscape where people just want to go online, submit information, without even texting or talking or emailing anybody and get an answer,” De Jesus said. “So that’s kind of what we’re trying to do with LendFax, is we’re kind of just trying to bring them the offers based on the answer that they select.”

Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future deBanked events here.