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Thrive Platform to Power Small Business Lending


Thrive Inc. (Thrive) is pleased to announce a multi-year technology licensing agreement with Horizon Community Bank (HCB), a leading Arizona-based FDIC insured bank and subsidiary of Horizon Bancorp, Inc.

  • Thrive’s proprietary cloud-based lending technology will power the complete, end-to-end small business lending process for HCB encompassing:
    • Digital applications, automated credit / financial analysis and background/verification checks, loan offers and declines, e-closings, integrated servicing, borrower interface and real-time risk management capabilities
  • Operationally, HCB will benefit significantly from improved loan processing efficiencies and reduced origination costs:
    • Loan processing time is expected to be reduced from weeks to days
    • Cost reductions of greater than 40% are expected for each loan application cycle
  • HCB will benefit extensively from new digital customer acquisition channels, while user experiences for existing and new customers will be modernized and improved

Kunal Sehgal, CEO of Thrive said: “We look forward to working with Horizon Community Bank to significantly improve the lending experience and enable access to capital for both new and existing customers, while also helping to increase organizational efficiency and lending profitability. Thrive is building modern and powerful lending infrastructure and we are very excited to have Horizon Community Bank as a long-term partner.”

In regards to the partnership, Jerry Ernst, CEO of HCB, said: “We’re excited to leverage Thrive’s technology to streamline the application process for our new online quick loan product, which enables funding of a business line of credit in only 48 hours. Combining their software solution with a brick-and-mortar bank that businesses can trust provides the best of both worlds: the speed and simplicity of a fast online loan with the in-person relationships and customer service that only a local community bank can provide. We anticipate this partnership will allow us to serve our customers more efficiently and competitively.


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