How Seek Business Capital Adopted Online Notarization to Fund the Future of Small Businesses
Of the nearly 30 million small businesses in the United States, about 85% have fewer than 20 employees. The ability to live your dream and provide opportunities for those around you is essential in cultivating the health and well-being of your community.
From small auto repair shops to cupcake businesses, success and failure hinge on the ability to receive the funds needed to run your business. It can also be the difference between a successful small business and one shuttered by a big-name brand.
As we think about funding the success of small businesses across the country, notaries have an important role to play in turning dreams into realities.
In order for a small business lender to fund your loan, you need to notarize a power of attorney form so the lender can work with the bank both to facilitate the loan and to put the funds into your business account.
Funding Entrepreneurs 60% Faster
Founded in 2014, Seek Business Capital provides over 92% of inquiring small businesses with access to new business loans. However, to provide loans to these businesses, Seek requires their clients to sign and notarize a power of attorney: a process that typically took days or even weeks to complete.
To succeed on their mission and easily provide startup business loans, Seek knew that they needed to shorten the time it took to process paperwork related to the loan so customers could be approved faster.
Seek partnered with Notarize to empower their customers to complete notarizations anytime, anywhere. Using Notarize, customers can sign and notarize documents in minutes, which has dramatically changed Seek’s ability to deliver on their mission.
Moreover, Seek Business Capital is getting their documents completed faster. The process of sending clients documents to get signed and notarized took days or weeks, and only half of those documents were being completed on time. By leveraging Notarize Business features such as SMS reminders, signers are now completing documents 60% faster, and as a result, are funding their dream businesses just as quickly.
“Seek clients can get their documents notarized in minutes to receive the funding they need to reach their business goals,” said David Halverson, the VP of Sales and Operations at Seek Business Capital. “Seek, empowered by Notarize, has made a once painful experience for clients a true differentiator for their business.”
Are you a small business lender that collects notarized documents? Get a demo of Notarize here.