How to Choose The Right Lending Software for Your Business

Choosing the right lending software for your business can be a major undertaking. Before you train your staff on a new system and invest thousands of dollars, we have identified some key points for you to consider when choosing a software platform and provider. Outsourcing vs On Site Overall Functionality Decisioning & Risk Scoring User …

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Maximizing Efficiency: Automating to Improve Loan Underwriting

This Metric Could Save Your Lending Business!

Everyday I speak with Lenders around the globe and I ask them the same simple question: What does a loan cost you? What is your cost per loan (CPL)? I’m always surprised how many do not have an answer. For most, a loan in any form (Mortgage, Credit Card, Consumer Loan, Micro-loan, Payday loan, Small Business …

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Breaking Four Misconceptions of Small Business Lending

(From Contributor Marina Thomas) With the advancements in technology and the Internet revolution, people can now easily access information at their fingertips. The main problem with  fake data and information regarding small business loans is that entrepreneurs get a false sense of the loan qualification. They often believe that they are not eligible for loans. If …

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The Top 5 Banking Trends for 2017

Today’s guest blog entry is from David Horton. David wrote a great piece on LinkedIn  providing his five banking technology predictions for 2017. Although dated, it’s always interesting to look back and see how we’ve done.  Enjoy!   Without a doubt, 2016 was the year ‘disruption’ became tangible. Events like Brexit, the U.S. election and India’s …

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How to Choose The Right Lending Software for Your Business

Choosing the right lending software for your business can be a major undertaking. Before you train your staff on a new system and invest thousands of dollars, we have identified some key points for you to consider when choosing a software platform and provider. Outsourcing vs On Site Overall Functionality Decisioning & Risk Scoring User …

Read more

Effective Communication with Borrowers

Have you ever tried waving at a blind person? This is NOT the best way to get their attention. As the business of lending evolves how are you communicating to your borrowers and potential borrowers becomes increasingly important. If you aren’t ahead of the curve, then you will be left behind. Effective communication with clients and potential …

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Stop Taking Money From Strangers…

As we grow our customer base here at LoanCirrus, we find it necessary to gain deeper insights into whom we are serving. It’s tempting to use the most natural generalization of our customers: ‘we serve lenders’. Many of you who are lenders may say ‘we serve borrowers’. If you are in the restaurant business it …

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6 Brilliant Ideas to Grow Your Lending Biz

1. Know your Market If the loans are within a 50-mile radius of your office or a branch, it provides better insights into local dynamics. Integration with the market is key. By investing in verticals that you know and within a market you are familiar with, you are likely to increase your chances of success. …

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Ditch the Branch – Grow Faster!

A hundred years ago banks had to figure out how to get close to people because people were largely sedentary. If you wanted to lend money to people you would better go where they lived, it would have been difficult for them to come to you. Banks addressed this challenge by building physical retail locations where prospective …

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Building Your Team

There are no great businesses built by the singular effort of a person. Lending businesses are no exception.  Your success in lending will depend in large part, on the quality of your team.  So, how do we go about building the right team? First, know the business you’re building. The team does not decide what …

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