Before You Take The Leap…

Don’t sign that software licensing agreement just yet. Do you know your TCO? What is TCO? Total Cost of Ownership (TCO) seeks to understand the entire cost associated with the ownership of Software over some period. Usually this assessment is done in comparison to a non-ownership model of software such as a Software as a …

Continue reading

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 …

Continue reading

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 …

Continue reading

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 …

Continue reading

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 …

Continue reading

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 …

Continue reading

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 …

Continue reading

How To Collect (more of) Your Money

How do you collect more of the money you lend? Everybody who borrows from you intends to pay you back. Some simply don’t.  The idea is not to eliminate delinquent borrowers. It’s impossible so any attempt is futile. The idea is to manage it and keep it well controlled. Profit in spite of delinquencies. Banks …

Continue reading

5 Epic Mistakes New Lenders Make

The lending business has an allure to it that I sometimes find perverse. Many seem to view lending – especially microlending – as a fast, often lightly regulated way to get high returns. True, lending can be quite profitable but that profit can be elusive at best. Most new Lenders and many existing ones make …

Continue reading

How To Start A Powerful Lending Business

I know not everyone wants to start a lending business, some only want to make quick money. But if you’re serious about building  a great lending business this may help. This is not a checklist of items to do in order to setup a lending company, if you want that we have one and we offer …

Continue reading