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Product Summary
The loan application process is stressful and outdated. AppChat is changing that. Our AI algorithm finds the best finance solution for borrowers while automating the sales and marketing for the lenders.
The days of shot-gunning a client’s application out to 100 different lenders are over. Our KR² engines utilize evolutionary algorithms to continuously improve our decision engine which automatically tailors the best solution for the borrower. The result is the best possible product for the borrower, and the highest quality lead at the lowest cost for the lender.
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Why AppChat?
For borrowers, getting financing is complicated and slow. The industry is opaque and there has been little innovation. Business owners who want financing have to deal with having their information blasted out to dozens of lenders and field hundreds of calls and emails from salespeople. It's time consuming, frustrating, and distracts from the actual business operations for clients. It's also extremely expensive for lenders to market their loan products to potential clients with little quality control over their leadflow.
Our AI stack is specifically tailored for the automation of business financing. Lenders can plug into our API, secured folder, or email, where they get the most cost-effective, fastest, high-quality business owners, without needing to compete for the client's attention.
Pie Chart
40% Prequalifying
15% Shopping
10% Negotiating
5% Closing
10% Underwriting
20% Other
By using NLI to automate most of the client interaction, we've reduced the time and cost needed to find qualified borrowers. Our stack then utilizes evolutionary algorithms to continuously improve the decision engine to ensure that our partners get high quality, exclusive leads, at a fraction of the cost. The results? More time spent on qualified borrowers, and less money spent on sales and marketing.
"We're using AI to create a transparent marketplace for business owners and service providers to come together more efficiently than has ever been possible"
- Corey Michael, CEO
We believe simplicity is genius, and since day one, our vision has been to build technology that makes applying for business things simple. AppChat's vision is to make applying for small business loans as simple as texting your friends and family.
We set out on a mission is to build a comparison technology that helps business owners identify small business loan options, shop lenders, get quotes, and obtain business financing more easily.
Our goal is to give business owners the tools they need to stay out of the back office and in front of more customers so they can build great businesses—businesses that create more jobs, grow our economy, and keep alive the thriving, vibrant local communities we all call home.