Online Lending System Update:
Favorable Early Reviews
After many months of research, planning and development,
the REAP Online Lending System was officially installed
on the REAP website, http://www.cfra.org/reap
on August 26, 2005. The new system has been used already
by several REAP applicants and has received favorable
The goal of REAP is to have the new system working as
flawlessly as possible by the end of this year. No doubt
the new system will have a few problems to work through,
but REAP is prepared to work through these and have the
system functioning at a very high level.
REAP is also unveiling a new loan product called the
“REAP Rapid Loan.” The REAP Rapid Loan concept
incorporates an online application and is a loan product
with a $5,000 maximum limit. REAP will continue to offer
the “REAP Direct Loan,” which is a loan product with
a $25,000 maximum limit.
It is important to note that the new online lending
system is simply one way to apply for a REAP loan.
Entrepreneurs can also download the application and fill
it out manually or receive the information from REAP as
in the past. Listed below are the links and brief
descriptions of each link with the new REAP Online
REAP home page link. The online lending system link is
below the “Loan Programs” button.
Updated Loan Programs page. There are links to the
system on this page.
Entry page for the online lending system.
Takes the applicant to the secure site where they enter
there user name/password and begin their application.
WHAT DO YOU THINK?
If you have a chance, please check out the new REAP
Online Lending System and let us know what you think of
the new system. If you know of someone who is looking to
start or expand a small business and is looking for
financing, please mention the REAP Online Lending System
to them as a possible option.
Also, keep in mind the full range of services that REAP
provides including lending, training, networking
opportunities, technical assistance, and loan packaging
services for startup and existing microenterprise
(businesses with 5 or fewer employees).
The REAP program is your program. REAP is committed to
providing superior business development services and
increasing our outreach in the rural areas of Nebraska
on a statewide basis. Let us know how these new
initiatives are working for you, and continue to let us
know what you need from REAP. As always, we will
continue to adjust and enhance the program to meet your
needs and expectations.