Collaboration equips credit teams with complete files on day one, giving borrowers faster access to capital.

– Locality Bank, South Florida’s digital-first community bank built to help local businesses maximize their potential, today announced it has selected Parlay Finance’s Loan Intelligence System (LIS) to transform how it delivers SBA loans. By embedding AI into onboarding and intake, Locality Bank is equipping its team to scale lending while giving businesses faster, clearer access to the capital that drives growth.

Resetting Expectations for SBA Lending

SBA lending has long been slowed by paperwork piles, shifting eligibility rules, and weeks of back-and-forth reviews. For borrowers, that means missed payrolls and delayed expansion. For lenders, it means capped bandwidth and underwriters stuck chasing files instead of assessing credit.

By selecting Parlay’s LIS, Locality Bank is addressing the pain points that have long slowed SBA 7(a) lending. Intake and verification happen upfront, so credit teams get complete files on day one. That means borrowers aren’t waiting weeks for a decision, and Locality’s bankers aren’t chasing missing forms; they’re structuring loans and guiding clients. The result: more capacity to deliver credit where it matters most, without adding headcount.

“This is about fixing what’s broken in small-business lending,” said Corey LeBlanc, Co-Founder & COO of Locality Bank. “Too many banks are still pushing paper across desks and calling it progress. South Florida businesses don’t have time for that. With Parlay, we can move SBA loans with the same discipline we’ve always had, but at a speed that matches the market. That’s how we grow volume without losing the personal service community banks were built on.”

Industry Bottleneck, Now Addressed

Research highlights intake as the single largest bottleneck in small-business credit. Historically, the complexity of requirements made automation nearly impossible, forcing lenders to rely on manual processes. By applying advanced technology and AI, that complexity can now be managed from day one, creating a faster and more reliable lending journey for both borrowers and lenders.

With Parlay’s LIS, Locality Bank will:

• Digitize onboarding with SBA-specific intake that helps borrowers provide the right information upfront.
• Automate verification of required forms and documents by catching issues before files reach underwriting.
• Accelerate underwriting by delivering complete, lender-ready applications, so underwriters can get real-time information and see trends without delays.
• Expand volume by reducing administrative burden, allowing staff to serve more businesses, and convert near-miss applicants into future customers.

“SBA lending is one of the most proven levers for small-business growth, but it is intensive for both applicants and lenders,” said Alex McLeod, CEO and co-founder of Parlay Finance. “With AI, we can handle the complexity upfront, making loans faster to access, easier to manage, and more profitable for community banks. Our work with Locality shows how forward-looking institutions can deliver SBA lending at scale.”

A Shared Commitment to Small-Business Lending

For Locality, the project is also personal. Its SBA team views this as more than technology. It’s about the future of community lending.

“SBA lending has been my life’s work, and I’ve seen both its promise and its pain,” added Javier Jorge, EVP, Director of Government Guaranteed Lending of Locality Bank. “The promise is obvious: when a business gets funded, jobs are created, families are supported, and communities get stronger. The pain is just as clear: deals stall, weeks are lost, and borrowers walk away discouraged. With Parlay, we’re tackling the parts that have slowed us down. It gives my team the chance to focus on structuring good credit and delivering more approvals, without losing the discipline these loans demand.”

Closing the Gap in SBA Lending

Locality Bank’s work with Parlay is a case study in how community banks can match discipline with speed. By fixing the front end of SBA lending, Locality is opening the door for more businesses to secure funding when it matters, keeping South Florida’s economy moving forward.

About Locality Bank

Locality Bank is a digital-first community bank headquartered in Fort Lauderdale, Florida. Founded to empower local businesses and entrepreneurs, Locality combines modern digital tools with community-driven service to deliver capital that grows South Florida’s economy.

About Parlay Finance

Parlay Finance is an AI-powered Loan Intelligence System (LIS) that streamlines SBA and small business loan intake. Designed to complement existing Loan Origination Systems, Parlay enables lenders to expand SBA access, increase loan volume, and improve profitability while preserving strong credit quality.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250918824227/en/

"With AI, we can handle the complexity upfront, making loans faster to access, easier to manage, and more profitable for community banks,” said Alex McLeod, CEO and co-founder of Parlay Finance.