ORLANDO, FL—Fountainhead Commercial Capital has launched a new commercial real estate loan evaluation system, Pronto, that uses artificial intelligence to provide loan approvals within two hours, the company says. The company specializes in SBA 504 transactions, and Fountainhead executives expect Pronto to accelerate closing times for the entire SBA loan process, whittling a few days off the timeline.

“Today's entrepreneur demands quick decisions, but many banks and commercial lenders are still in the stone age when it comes to approvals,” says Chris Hurn, Fountainhead's CEO. “We streamlined an historically time-consuming and arduous process so that business owners can now make fast decisions and get back to running their companies.”

Hurn says the most time-consuming aspect of the streamlined process revolves around producing the appropriate financial documentation. With this information in hand, borrowers can drag-and-drop documents into the Fountainhead system. The company says beta users have often completed the application process in less than 15 minutes.