How a commercial banker saw a better way
Corporations have been dealing with the same lending problems for over 30 years—spending months on paperwork, questions, and meetings with bankers in an effort to get the funding they needed. Cerebro Capital Founder & CEO, Matthew Bjonerud, knows these pains all too well. Bjonerud remembers a specific case as a banker where he discovered the bank was only able to lend a portion of the amount that his corporate client needed.
He realized that this had not only wasted two months of the client’s time, but also the bank’s time, and he had no way of helping the company find the remaining portion of the loan they needed to complete their project. He wondered why there wasn’t a way for the company to easily search out another lending source that would provide them the rest of the loan.
And that, in part, is how Cerebro Capital was born.
Finding the perfect match
The process of applying for loans and lines of credit can be taxing on any company, consuming resources better directed elsewhere. Time is of the essence when trying to find the right loan. To make things faster, Cerebro Capital’s platform compares underwriting criteria from traditional and non-traditional lenders to a borrower’s financial strength to determine how many lenders can finance their request. If the borrower chooses to apply to one or more lenders, Cerebro comes equipped with a team and tools to facilitate the RFP process.
Building on current banking relationships
Cerebro Capital’s goal is not to end your current banking relationship; rather, it is to provide you with options so you can make wiser financing decisions.
Cerebro Capital’s lender network includes top US banks, local banks, mezzanine lenders, and non-bank lenders. The non-bank lenders are not regulated in the same way banks are and can often offer more creative lending options.
Many times, companies use Cerebro Capital to gain market intelligence and competitive analytics, which empowers them to negotiate better deals with their current lender. Most likely, your current bank will not want to lose your business and will find ways to improve your terms without going through a full refinance process.
Compliance made easy
In a challenging business environment, companies have limited opportunities to solve financing problems and preserve their banking relationships. Companies subject to loan covenants or reporting requirements by their lending institutions might miss critical reporting deadlines when documents are stored on spreadsheets and deadlines are managed through their email calendar.
Cerebro Capital’s compliance platform provides the oversight your company needs to stay on top of its covenant calculations and reporting requirements. The platform becomes a vital member of your financial management team by adding workflows and automation to your loan compliance process so you no longer miss critical reporting deadlines or other often overlooked details.
The journey is just beginning for the Cerebro Capital team and their mission to enhance the borrowing process for middle market companies. Keep your eye out for more exciting news about the platform.
How Can Cerebro Help Your Business?
Based on data collected from lenders and closed deals on our platform, Cerebro can provide you with an estimate of available loan options, estimated borrowing capacity and borrower strengths and weaknesses to help you make the best decision for your business. Our complimentary loan assessment takes just 15 minutes to complete.