LOS Comparison
Aloan vs Numerated: AI-Native Commercial LOS vs Digital SMB Origination
Numerated is a Moody's-owned digital business-banking origination platform with mature borrower intake and a large, PPP-proven base; Aloan is an AI-native commercial loan origination platform — spreading, risk detection, and source-traceable credit memos — that can run as your commercial LOS or overlay your existing one. Numerated leads on digital SMB/SBA intake; Aloan leads on AI-native credit analysis, though it is early-stage.
An AI-native commercial loan origination platform versus Moody's-owned Numerated, a digital business-banking origination platform.
At a Glance
Aloan
- Company
- Aloan Inc.
- Founded
- 2025
- Deployment
- cloud
- Loan Types
- Commercial, CRE, SBA, Equipment, Agriculture, Small Business
- Best For
- Commercial lending teams at community banks, credit unions, and CDFIs that want an AI-native commercial LOS — or want to automate underwriting on top of the LOS they already run
Numerated
- Company
- Moody's
- Founded
- 2017
- Deployment
- cloud
- Loan Types
- Small Business, Commercial, Equipment
- Best For
- Community and regional banks seeking a digital small business and commercial lending platform
Aloan Overview
Aloan is an AI-native commercial loan origination platform that can run as a standalone LOS or overlay an institution's existing one. Founded in 2025, it automates the analysis-heavy core of commercial lending: it classifies and extracts data from tax returns, financial statements, bank statements, rent rolls, and K-1s; spreads the financials with DSCR, leverage, liquidity, and global cash flow; flags risks such as revenue declines, high NSF activity, UCC liens, and covenant breaches; and generates a complete credit memo, with every figure traceable back to the exact page of its source document. It supports all commercial loan types — C&I, CRE, SBA, equipment finance, agriculture, and small-dollar — can ingest a lender's credit policy to tailor the analysis, and monitors covenants after booking. Unlike the incumbent platforms it can also work alongside (nCino, Abrigo, Baker Hill, Encompass), Aloan is built around generative AI from the ground up rather than adding AI features to a legacy system, and it typically deploys in 2–4 weeks with no data migration. It is an early-stage company (founded 2025) with a small but growing customer base, and it supports human underwriters rather than making credit decisions.
Numerated Overview
Numerated is a data-driven SaaS digital loan origination system for business banking, acquired by Moody's in 2024 to expand its lending technology solutions. The platform automates the end-to-end small business and commercial loan process, from data gathering and financial spreading to credit scoring and document preparation, dramatically reducing the manual work that relationship managers traditionally handle. Numerated gained widespread adoption during the PPP lending surge and has since established itself as the go-to digital origination layer for community and regional banks that want to modernize business banking without replacing their entire tech stack. Its integration into Moody's Lending Suite adds credit analytics depth.
Feature-by-Feature Comparison
| Feature | Aloan | Numerated | Edge |
|---|---|---|---|
| Primary focus | Commercial (C&I, CRE) credit analysis | Digital SMB origination and data gathering | Tie |
| AI architecture | AI-native generative AI underwriting | Data-driven automation plus Moody's analytics | Aloan |
| Credit memo with source citations | Yes — every figure traceable to source | Document prep; less memo-centric | Aloan |
| Borrower-facing application portal | Modular borrower portal (newer) | Mature digital application with pre-fill | Numerated |
| Implementation | ~2–4 weeks, standalone or overlay | 4–8 weeks; SaaS, faster than enterprise LOS | Tie |
| Backing & analytics | Independent early-stage startup | Backed by Moody's credit analytics | Numerated |
| SBA / SMB workflow | Commercial credit and origination; SBA forms via your stack | Digital SMB workflows; PPP-proven heritage | Numerated |
| Source-document auditability | Source-page citations on every number | Standard documentation | Aloan |
| Market maturity | Early-stage (founded 2025) | Hundreds of banks; PPP-proven | Numerated |
Choose Aloan if…
- ▸ Your constraint is underwriting analysis depth, not application intake
- ▸ You want AI-native spreading and credit memos with full source traceability
- ▸ You want AI-native commercial origination and underwriting, standalone or layered on your existing LOS
- ▸ C&I and CRE credit analysis is your focus
- ▸ Examiner-ready audit trails are a priority
Choose Numerated if…
- ▸ You want to digitize the borrower-facing small business application end to end
- ▸ You value Moody's credit analytics and a proven, at-scale platform
- ▸ You need mature SBA/SMB digital origination workflows
- ▸ Pre-filled applications from existing customer data matter
- ▸ A large install base and longer track record are decisive
Our Take
Numerated digitizes business-banking origination — borrower application, data gathering, scoring, and document prep — and is backed by Moody's analytics with a large, PPP-proven install base. Aloan is an AI-native commercial loan origination platform that can run as your commercial LOS or overlay an existing system, with particular depth in the analysis: spreading, risk detection, and credit memos with source-page citations. For deep SMB/SBA digital intake and a proven platform, Numerated leads. For AI-native commercial underwriting and examiner-ready memos on C&I and CRE deals, Aloan is the specialist — though it is early-stage (founded 2025) with a small customer base. The two can also be complementary: Numerated for intake, Aloan for the underwriting.