Regions
Bank announced this week that it is partnering with Fundation Group, LLC,
an online small business lender, to develop and provide quick lending solutions
to small businesses. “We have found that a lot of our customers want to do
business loans online,” said Joe DiNocolatonio.
The available technology is “robust, very quick and customer-friendly.”
The combination of broadband access and smart phones and
tablets coupled with cloud-based technologies make applications available to
small businesses accessing underwriting information in seconds. The result is that a loan process that would
take a community bank three days to three weeks can now be done in five
minutes. This is not only a huge
customer benefit fit, but reduces substantially bank costs in providing loans
and turns their entire retail sales force into sales people for digital loans
with no lending knowledge.
You too can provide proven, compliant digital lending
technology for small business loans where you own and control the technology,
underwriting and service while retaining all loans and relationships. Just check out Business MinuteLender for
community banks.
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