Starting Up
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 …
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 …
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 …
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 …
OK, Back To The Basics of Lending
The Basics Now is not really a great time for FUNDAMENTALS. Things like ‘facts and substance’ are often viewed as getting in the way of vision, creativity and growth. But guess what? Knowing what you are doing is still ‘en vogue’. At LoanCirrus we support lenders around the world and we sometimes help them to …
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 …
