iBank Matches Small Biz Owners, Lenders

"Everything, virtually, you have in your business you can store in this vault," says Markel, "tax returns, financial data, bios, MP3 files, videos, you can scan in all your paper documents, forms and so on," says Markel.

While this digital vault is good for redundancy backup, its efficiency comes from storing everything in one place with 24-hour access. The second part of iBank's platform is a digital loan packager, a step-by-step guide to building a professional loan package. The loan package accesses the vault and retrieves business data and is able to auto-fill up to 60% of the loan form. It's not, however, able to fill in specific variables such as the number of computers your business needs or an invoice your business needs to fulfill.

The last piece of iBank's solution is to offer a network of roughly 1,200 lenders, ranging from giant banks to individual angel investors. The lenders can enter their own filters of what they're looking for, like geographic location, amount desired, business asset value and so on. From there, iBank is like a dating service, alerting the lender and business when there's a match, and the two can execute a transaction offline. The best part is that the business only needs to fill out one loan application, regardless of the number of lenders its owner talked to.

"That application has more data on it than any one lender would need, but every lender gets what they want," says Markel.