IOU Central Latest Version of its Technology Platform, Empowers Sales Partners and Small Business Owners with a Fast, Secure Alternative Lending Option

IOU Central is announcing the latest version of the technology behind its online lending solution for healthy small businesses in need of additional capital for continued growth. IOU Central's technology brings sales partners and small business owners an easy-to-use, secure online application process, with a quick turnaround.

IOU Central's technology platform was developed to ease the burden of applying for a small business loan and to make the entire process 100% paperless, from start to finish. While most lenders require a great deal of paper documentation and essentially rely on the individual strengths of a subset of benchmarks to determine the credit-worthiness of a borrower, IOU Central's technology allows for a different approach to gathering loan criteria and determining approval.

The IOU Central Risk Score
Rather than simply considering traditional data such as credit scores and tax return income history, the IOU Central technology platform makes it possible to quickly make loan decisions based on both credit information and non-traditional criteria. When the application is initiated online, borrower data is seamlessly consolidated into a dashboard, either by a borrower or broker uploading documents or through APIs to websites like Equifax. IOU's technology then calculates and automatically assigns the borrower an "IOU Risk Score," a multi-factor model that looks at several components of the business on a weighted scale and provides a "big picture" view of the borrower's financial reality. This includes the typical financial data a borrower would expect, but also pulls in non-traditional data such as street views of the business from Google Maps or customer perceptions from social media outlets like Yelp, Urban Spoon and others.

"We've made an investment on the front end to ensure that the technology behind our application and approval process is secure, seamless and automated to the point that many borrowers comment that it isn't actually a process at all," said Robert Gloer, President and COO for IOU Central. "As a result of our technology capabilities and interfacing with a dozen different websites we are able to mitigate risks for our investors while providing world class service to our customers. The outcome is a simplified yet sophisticated technology platform that is revolutionizing the way small business owners access capital."

For small business owners, IOU Central's technology platform means:

A secure, quick application process that can be initiated at anytime, from anywhere

Less time gathering documentation for the application process since IOU Central's integration with websites like Equifax, google street view and numerous other data sources automatically pulls in required data

A unique approval process based on a "big picture" of traditional and non-traditional, social data

A 100% paperless application process allowing the borrower to e-sign to accept the terms and close their loan

Approval and funding in days, not weeks or months

For broker partners, IOU Central's technology platform means:

A seamless, paperless application process

Integration with data sites such as Equifax, google street view and eBay, limiting the need to upload borrower documents

Control of the application process from start to finish

Borrower is not contacted until the loan is approved or declined

Quick approval turnaround, within days

About IOU Central
IOU Central is a leading online lender specialized in helping small businesses with healthy cash flow. Typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees and ecommerce companies. In a unique approach to lending, IOU Central's advanced, automated application and approval system accurately assesses applicants' financial realities, with an emphasis on day-to-day cash flow trends. It makes loans of up to $100,000 to qualified applicants within a few business days, with affordable charges favorable to cash-flow management. IOU Central's speed and transparency make it a trusted alternative to banks. Based in metro Atlanta, Georgia, IOU Central is a privately held subsidiary of IOU Financial (CNSX: IOU), which is headquartered in Montreal, Canada.

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