LiveCapital Lands Another Lender

SAN MATEO, CA-LiveCapital will assist First Union Corp. in providing its business banking customers instant access to online loan processing.

Through the LiveCapital Financing Network, First Union Small Business Capital will offer between $250,000 and $3 million in conventional and Small Business Administration-guaranteed financing, with up to 25-year fully amortized loan terms and up to 90% financing. The agreement, announced this week, increases LiveCapital’s roster of clients to more than 70 lenders and lessors.

The LiveCapital Financing Network is a core component of LiveCapital’s customizable software solution for financial institutions, vendors and B2B marketplaces seeking to offer instant financing from their corporate Web sites. Using the platform, a client company can provide its small business customers with the ability to – in less than five minutes – complete a financing application, have that application instantly evaluated, and immediately secure financing decisions from members of the LiveCapital Financing Network.