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Growing Up

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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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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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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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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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 …

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