Merrill Lynch has launched a new Web-based platform, FinanceCenter, which allows small and medium sized businesses to apply for credit directly online.
The new platform Web-enables the application process for small and medium sized business clients requesting commercial lines of credit from $100,000 to $500,000 through Merrill Lynch Business Financial Services (ML BFS). Applicants can review the status of their application online at any time.
In addition, the new platform allows ML BFS clients to submit applications for Small Business Administration (SBA) loans, which are offered through a referral programme with a non-affiliated lender.
FinanceCenter is available on the Internet through the Merrill Lynch Business Centre Web site, which also offers a range of business financial tools, including calculators that compare cash management, business performance, and financing options.