Breaking the Binary: How Parlay Finance is Reshaping Small Business Lending

When it comes to small business lending, too many entrepreneurs face a frustratingly simple outcome: yes or no. For many, especially veterans and military families, the answer is often “no”—without a roadmap to change it.

Alex McLeod, founder of Parlay Finance, is working to change that. As a military spouse and entrepreneur, McLeod co-founded the fintech company alongside two veteran partners. Today, more than 90% of Parlay’s team are military veterans—a testament to the company’s commitment to community and mission.

Parlay Finance partners with banks, credit unions, and financial institutions across the U.S. to make small business lending smarter and more accessible. Using AI, their platform not only streamlines the loan application process but also educates business owners on how to improve their chances of getting approved.

Instead of a binary yes or no, we give small businesses a pathway to ‘not yet’—with clear steps to prepare for a future yes,” McLeod explained.

The company also specializes in SBA loans, particularly in the growing field of entrepreneurship through acquisition, where many veterans turn after transitioning out of the military. By equipping lenders with better data and helping entrepreneurs understand what’s needed for approval, Parlay is bridging the gap that often leaves business owners discouraged and underfunded.

McLeod acknowledges the uphill battle many small businesses face:

“There’s a misconception that lending to small businesses is too risky. But the real challenge is a chicken-and-egg problem. Lenders don’t have enough data to feel comfortable lending, and because they don’t lend more, they never get the data they need. We’re solving that by giving lenders the tools to make better risk-adjusted decisions.”

The Warrior Rising Connection

Parlay Finance’s journey has been closely tied to Warrior Rising, a nonprofit that empowers veteran entrepreneurs. McLeod’s co-founder Jay, went through Warrior Academy, and the team has remained active alumni, even serving as judges for new cohorts.

“What Warrior Rising gives you is a blueprint,” McLeod shared. “Starting a business can feel like climbing Everest—you need base camps along the way. Warrior Rising provides those milestones, mentors, and community support. We couldn’t have walked those steps alone.”

The Power of Belief

Perhaps the most profound impact of Warrior Rising was simply believing in Parlay before the world did.

As Parlay Finance continues to grow, its mission remains clear: reshape small business lending, empower entrepreneurs with actionable pathways, and prove that with the right support, “no” can always become “not yet.”