The Connect2Capital team thinks of platform successes using three key metrics: Applicant Match Rate, Credit Decision Conversion Rate, and Terminal Stage Conversion rate. These metrics can be used by referral partners and individual lenders to better understand their product and organization performance on Connect2Capital.
The applicant match rate refers to the proportion of applicants who complete a pre-application and are matched to a participating lender. (Only applicable to Referral Partners)
The Credit Decision Conversion Rate measures the proportion of applicants who receive funding out of all applicants who make it far enough in a lender’s process to receive a credit decision.
The Terminal Stage Conversion Rate measures the proportion of applicants who receive funding out of all applicants moved to one of the three terminal stages: withdrawn, disqualified, or funded.
Platform Success Rates Summary
| Measure | Successful Outcome | Possible Outcomes | Best Uses | 2021 Total Program Avg |
|---|---|---|---|---|
| Applicant Match Rate | Applicant matched to 1 or more lenders | Applicant Matched or Applicant Not Matched. | Understanding the fit between product parameters and applicants. | 65% |
| Credit Decision Conversion Rate | Applicant receives a loan. | Applicant receives a loan OR does not receive a loan due to not meeting eligibility criteria. | Understanding the success rate of applicants who complete all necessary steps to receive a loan. | 20% |
| Terminal Stage Conversion Rate | Applicant receives a loan. | Applicant receives a loan OR does not receive a loan due to not meeting eligibility criteria OR chooses to withdraw themselves from the loan application process. | Understanding the success rate of applicants in receiving a loan, including those who are unable to complete all necessary steps. | 9% |