Thinking Capital partners with Everlink to help credit unions offer online lending for small businesses

Everlink, which provides payment solutions for credit unions and banks, announced a partnership with Thinking Capital in an effort to allow credit unions to offer online lending to their customers.

Everlink said it is set to serve 90 percent of the credit union market by the end of 2016, the integrated solution will enable Everlink clients to offer their small business owners a quick and easy way to access loans between $5,000 and $300,000, within three to five business days.

“Everlink understands that our clients are continually seeking new ways to specifically strengthen service offerings aimed at small and medium-sized businesses. This new service offering will help our clients better serve, support and grow their commercial member/client base, creating a new revenue stream with minimal to no impact on their current resources,” said Mark Ripplinger, president and CEO at Everlink. “Everlink and Thinking Capital share similar strengths — leadership, innovation and client-centricity — making this partnership a natural fit which builds upon the solid reputation both organizations have earned in their respective fields of expertise and track record of solution delivery.”

Thinking Capital targets small businesses who often struggle to receive financing due to increased loan default risk, greater year-to-year fluctuations in earnings, shorter credit histories and inadequate collateral. Through the partnership, business owners can apply online, and in under 10 minutes receive a credit decision.

“Our partnership with Everlink speaks to the power and scalability of our technology, and the rapid pace at which alternative funding is fast becoming the preferred option for small businesses,” said Jeff Mitelman, CEO and co-founder of Thinking Capital. “By working together we will reach an even wider range of customers. Many of whom will have access to funding in as little as 24 hours. They can then go back to doing the thing that matters most — growing their business.”