Miren allows users aggregate and streamline data on loans, community development projects, and deposits with the Miren API (application programming interface) or Miren Loan Origination Software (LOS).
The goal of Sommo was to develop MVP for Miren – software for loan origination and servicing aimed at microlenders, helping evaluate applications and track loans. We had to create a loan application portal for small businesses where banks could create their accounts and application links, receive the application submissions, review them, evaluate them, and make decisions regarding giving the loan or not.
Results
Since the beginning of our work, we have already released several versions of the platform and continue to work.
Starting as an accessible loan application portal for small businesses (MVP), the Miren team consistently embodies expertise in working with financial institutions, big and small.
Miren allows users to aggregate and streamline data on loans, community development projects, and deposits with the Miren API (application programming interface) or Miren Loan Origination Software (LOS). The platform is compatible with all major core banking, LOS (Loan Origination System), and CRM (customer relationship management) services.
Now, Miren provides community development financial institutions (CDFIs) and non-profit small business foundations with software that helps them engage with communities and mission-driven startups to distribute beneficial capital to some of the nation’s most underserved neighborhoods.
For this purpose, the team has raised around $250,000 from competitions, much of which came from the AWS Impact Accelerator.
