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Monday, April 11, 2016

Community Bank Small Business Digital Lending Case Study

Who uses digital lending technology at community banks?  Check out the example case study below from a community bank offering digital lending and immediately found new loans from customers that previously had no lending relationship with the bank.

Small Business Digital Lending Case Study

Bank:  
                       

$440MM north Florida community bank

Strategy:                    

Rolled out Small Business Digital Lending “See Your Line of Credit in Seconds and Set Up in Minutes” Up to $50,000

Marketing:                

Direct Mail to targeted checking customers, web links and email strategy.

Response:                  

In first week received responses and made loan to customer who previously had no lending relationship at very attractive pricing:

                                    Construction Company
                                    Annual Revenues:                  $3 Million
                                    Guarantor Credit Score:         800 FICO
                                    Line of Credit Approved        $50,000
                                    Annual Fee:                            $499
                                    Interest Rate:                          9%


You too can have your own digital lending platform under your brand, your underwriting and yourcontrol.  For more information, click her to join us for our next webinar.




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