Community
financial institutions are committed to serving small businesses. However, with over 80% of businesses having
less than 10 employees or no employees and a home-based business, nearly 40% of community
bank business loans on their books are under $50k. These loans require time and expense for
credit monitoring and renewing.
But
new digital lending technology not only allows community FIs to efficiently
book new loans in minutes, but also provides them the technology to monitor and
renew existing small business loans.
This allows immediate payback in efficiently handling existing loans,
freeing up officer time and providing a superior customer
experience.
Digital
lending technology not only increases efficiency and wins new loans, but it
also immediately improves efficiency with the nearly 40% of loans on community
FI books. Learn more at RCGILTNERMinuteLender.®
.
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