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Money Buzz 07/05

Connect to all potential lenders with only one application.

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This story appears in the July 2005 issue of Entrepreneur. Subscribe »

Tired of pounding the pavement looking for a bank loan? For a small fee, maybe you can tap your keyboard instead.

Business loan applicants can create a loan package, connect to 225-plus lenders nationwide, and close a loan by filling out only one application at iBank.com, explains Tom Markel, president and CEO of Credentrust Software, the Irvine, California, company that created and owns iBank.com. "The average business," he notes, "fills out four separate applications before getting accepted by a lender."

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