Glossary of Terms

Guided Front-End Workflows

Definition

AI-driven, interactive loan application processes that dynamically adjust based on borrower responses, ensuring a streamlined, user-friendly experience. These workflows simplify documentation gathering, eligibility checks, and lender interactions to improve completion rates.

Why is it important to SBA Lending

SBA loan applications are often abandoned due to their complexity. Borrowers struggle with:
-Confusing paperwork and unclear requirements.
-Redundant or irrelevant questions.
-Lack of real-time feedback on application progress.

Guided workflows reduce drop-offs by providing step-by-step instructions tailored to each borrower, dynamically adjusting form fields based on applicant inputs and offering real-time validation to catch missing or incorrect information early.

What role does Parlay Play

Parlay’s Loan Intelligence System (LIS) enhances the borrower experience by integrating AI-powered guidance into the loan application portal, using interactive tooltips and automated reminders to keep applicants engaged as well as minimizing errors and improving application completion rates.

With Guided Front-End Workflows, Parlay helps lenders capture more high-quality applications, reduce manual processing, and increase SBA loan approvals.

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