Sageworks Online Loan Application

Sageworks Online Loan Application (OLA) for commercial and small business loans is a turnkey solution to help banks of all sizes take advantage of the digital revolution in banking. It upends the traditional commercial lending business by allowing for a quicker, more user-friendly loan application process for both the bank and its borrowers. OLA moves the commercial lending process online – from application through life-of-loan management. The shift results in increases in digital sales, reduced back and forth with applicants, decreased turn-around time for loans, and creates more opportunities with progressive borrowers.

  • OLA is the first of its kind to require very limited data entry from both the borrower and the loan officer if the borrower provides electronic tax returns. When the borrower uploads PDF returns and provides their financing request, it triggers loan workflows and extracts information to make it instantly ready for underwriting.
  • The patented Sageworks Electronic Tax Return Reader (ETRR) seamlessly integrates with OLA and readies borrower profile and financial metrics for spreading and ratio analysis. This automation of the application saves the lender 20 minutes per tax return and eliminates errors that occur in manual data entry.
  • OLA has the potential to transform the market because turnaround time is critical in a loan application. From October 2016 to February 2017, one bank using OLA, saw a 58% decrease in processing days from application to approval and a 51% decrease in application to underwriting days.
  • OLA is a driver for loan growth and allows banks to be seen as an innovative partner for growth-focused businesses. The increased customer satisfaction created by the new process helps the bank improve client retention. Lenders can focus on high value activities instead of data entry and document collection, so loan officers truly value the impact it makes on their day-to-day responsibilities.


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