SAN FRANCISCO--(EON: Enhanced Online News)--SmartBiz Loans, the first SBA marketplace and bank-enabling technology platform, today announced the addition of Ann Marie Mehlum to the company’s board of directors, a former Small Business Association (SBA) associate administrator and seasoned banking industry veteran, with more than 30 years’ experience.
“With her decades of experience both at the SBA and in the broader banking industry, Ann Marie represents the addition of invaluable expertise and guidance to the company’s board of directors”
As former associate administrator for the SBA’s Office of Capital Access, Mehlum directed the government agency’s flagship credit programs including the 7(a) general business loan guarantee program, the 504 program for real estate and long term asset financing, and the microloan programs, with a combined portfolio of more than $100 billion. The SBA is a federal agency that encourages lenders, typically banks, to originate loans to small businesses by providing a guarantee for these loans.
SmartBiz Loans’ SBA marketplace automatically connects small business owners with the right bank which helps to increase loan application approval rates and speed. SmartBiz® bank partners utilize the SmartBiz software platform to increase their efficiency in processing SBA loans by up to 70 percent. SBA loans are widely considered the best type of loan for many small businesses because of their low rates and long repayment terms.
“With her decades of experience both at the SBA and in the broader banking industry, Ann Marie represents the addition of invaluable expertise and guidance to the company’s board of directors,” said Evan Singer, CEO of SmartBiz Loans. “We rely on our board to bring experience-based ideas and insights to SmartBiz, and having led a variety of innovative programs during her time at the SBA, we are confident that Ann Marie will add exponential value to the company’s innovative culture.”
Before her time at the SBA, Mehlum spent 30 years in community banking, including founding Summit Bank in Oregon, and serving as an officer at other banks in Oregon and California, including Wells Fargo. She has served on several highly prestigious advisory boards, including the U.S. Department of Treasury’s Community Development Financial Institutions Advisory Board, the FDIC Community Bank Advisory Board (appointed by FDIC Chairman Martin Gruenberg) and the Oregon Growth Board (appointed by Oregon’s governor).
“In my banking career, where I held positions including credit analyst, loan officer, chief credit administrator, and CEO of a business-focused bank, I was always looking for ways to more efficiently extend credit to small businesses. SmartBiz Loans is exciting because their online loan technology makes it easier and quicker for small businesses to get a loan, while also integrating with legacy systems and ensuring compliance with SBA and general banking regulations. It’s better for the small business and better for the bank. I am looking forward to working with SmartBiz to continue this important work.”
ABOUT SMARTBIZ LOANS
SmartBiz Loans is a unique combination of an online SBA loan marketplace and a bank enabling technology platform. The company's online software provides the SBA preferred lenders that utilize SmartBiz customized and automated origination, underwriting and documentation assistance, making approval and funding fast and easy. SmartBiz Loans is based in San Francisco and was founded in 2009 by a team of experienced financial services entrepreneurs with backing from leading venture capital firms including Venrock, Investor Growth Capital, First Round Capital, Baseline Ventures, and SoftTech VC. Learn more at www.smartbizloans.com.