You want to grow your loan portfolio — here are 7 ways we help!
1) We cultivate centers of influence as referral sources. You don’t have time to become a SBA loan expert, and you also don’t have time to market SBA lending. This is what we do—and we do it well. We cultivate relationships with accountants, attorneys, insurance agents and brokers, and other service providers in your community. We keep your name in front of these professionals so whenever they hear about a business that is planning to expand, relocate, or buy new equipment that will need to be financed they refer someone to you for guidance.
2) We teach your lending team how to say “Yes!” The SBA guarantee (75% of the loan principal) is often the difference between a “yes” and “no” answer to a small company seeking financing. We recognize good SBA loan opportunities, we know how to qualify them, and we use that knowledge to help grow your small business loans division—which inevitably adds growth to other bank services and products as well! Best of all, we qualify or disqualify quickly, so wasted time is minimized.
3) We mine your prospect databases for gold. There’s often hidden treasure within your bank’s own records. We’ll look at your turned down loan files, current customer base and target industries searching for solid SBA prospects. A properly updated and maintained customer database is necessary in order to maintain market efficiency—and critical in order to grow!
4) We promote your profile as a “go-to” business lender. Community banks strive to partner with their communities to create better places to live and work—that means to help fund economic business growth. So we boost your bank’s visibility and brand you as an aggressive community partner to small businesses by hosting business seminars or workshops and the like.
5) We maximize cross-sell methodology. Some of your best prospects for commercial loans might be right under your nose. Your bank likely has current business services customers who aren’t borrowing money from your bank. These are prime targets for SBA loans—so we reach out to them. That way we can capitalize on an easy and steady source of new business: signing up existing customers for new loans!
6) We help you convert maturing balloon loans. Many commercial real estate loans carry a short-term (5-7 years) maturity with a balloon payment due. We help your bank profit by converting some of those to SBA loans (which can amortize up to 25 years) and then selling them on the secondary market. That not only saves time and money—updated appraisals, title work, etc.—but actually boosts your bank’s bottom line while drastically reducing its risk!
7) We target customers of troubled competitors. Chances are there’s at least one troubled bank in your market area that is unwilling or unable to meet many of its customers’ financing needs. That translates to disgruntled and/or dissatisfied customers, just ripe for the picking! We download Uniform Bank Performance Reports to look for possible indications of weakness in competitor banks’ financial condition, then we create an outreach effort that targets those banks’ best customers.
At Bank Solutions, we help you implement these successful strategies to grow your loan portfolio as part of our role as a SBA Lender Service Provider. Please call us to discuss your bank’s opportunities in more detail at 501.804.8410 or click below!
2) We teach your lending team how to say “Yes!” The SBA guarantee (75% of the loan principal) is often the difference between a “yes” and “no” answer to a small company seeking financing. We recognize good SBA loan opportunities, we know how to qualify them, and we use that knowledge to help grow your small business loans division—which inevitably adds growth to other bank services and products as well! Best of all, we qualify or disqualify quickly, so wasted time is minimized.
3) We mine your prospect databases for gold. There’s often hidden treasure within your bank’s own records. We’ll look at your turned down loan files, current customer base and target industries searching for solid SBA prospects. A properly updated and maintained customer database is necessary in order to maintain market efficiency—and critical in order to grow!
4) We promote your profile as a “go-to” business lender. Community banks strive to partner with their communities to create better places to live and work—that means to help fund economic business growth. So we boost your bank’s visibility and brand you as an aggressive community partner to small businesses by hosting business seminars or workshops and the like.
5) We maximize cross-sell methodology. Some of your best prospects for commercial loans might be right under your nose. Your bank likely has current business services customers who aren’t borrowing money from your bank. These are prime targets for SBA loans—so we reach out to them. That way we can capitalize on an easy and steady source of new business: signing up existing customers for new loans!
6) We help you convert maturing balloon loans. Many commercial real estate loans carry a short-term (5-7 years) maturity with a balloon payment due. We help your bank profit by converting some of those to SBA loans (which can amortize up to 25 years) and then selling them on the secondary market. That not only saves time and money—updated appraisals, title work, etc.—but actually boosts your bank’s bottom line while drastically reducing its risk!
7) We target customers of troubled competitors. Chances are there’s at least one troubled bank in your market area that is unwilling or unable to meet many of its customers’ financing needs. That translates to disgruntled and/or dissatisfied customers, just ripe for the picking! We download Uniform Bank Performance Reports to look for possible indications of weakness in competitor banks’ financial condition, then we create an outreach effort that targets those banks’ best customers.
At Bank Solutions, we help you implement these successful strategies to grow your loan portfolio as part of our role as a SBA Lender Service Provider. Please call us to discuss your bank’s opportunities in more detail at 501.804.8410 or click below!