/UCW/ SACRAMENTO, CA – Magilla, a Sacramento-based tech startup matching business borrowers with traditional FDIC-insured banks, rolls out of beta and opens their full-service platform.
Magilla is a free and anonymous platform connecting business owners directly with the lender who will finalize their loan. This “matchmaking” saves an invaluable amount of time in the process of securing financing for their business, adding to their competitive advantage. Magilla’s incredible growth stems from an overwhelming engagement from lenders.
Magilla launched in Q3 2015 and has already funneled over five hundred million dollars in loans through its platform, proving their “simple, free, and anonymous” business loan matchmaking is something business borrowers crave. With a simple ten question form to complete, no personal identifying information, and no credit check, a business borrower can receive loan proposals from multiple banks in an easy-to-read chart; the aptly named, and trademarked, “MagChart.” This platform enables business borrowers to find the exact loan officer at the exact bank to close their loan fast, taking months off the traditional business loan process.