Who Can Predict 2021?

Who Can Predict 2021?

If 2020 has taught us anything, it is that “we can’t predict the future.” Who would have thought that a year that started with wildfires in Australia would end with a global pandemic? Community banks and credit unions saw massive demand on their loan departments....
Loan Approvals: Where Are Your Bottlenecks?

Loan Approvals: Where Are Your Bottlenecks?

Many community financial institutions found themselves very busy in 2020. Between low mortgage rates and PPP loans, there was a surge in activity. Banks that had a streamlined underwriting and credit approval process found themselves able to manage the increase in...
Analyzing Collateral Using the Borrower’s Balance Sheet

Analyzing Collateral Using the Borrower’s Balance Sheet

  It is easier to understand collateral value when your collateral is something like real estate. You receive an appraisal and calculate your loan-to-value. When your loan is secured by business assets, this becomes a little more complicated. Accounts receivable,...
Improve Your Process for Business Line of Credit Renewals

Improve Your Process for Business Line of Credit Renewals

While originating new loans may be a key area of focus for your community bank or credit union, renewing existing loans can absorb a significant amount of time. Many of the requirements are similar to new loans, and if you are not prepared, the renewal process can...
Managing Your Loan Workflow Through Automation

Managing Your Loan Workflow Through Automation

Every day in the world of community banking is different.  Loans are in various stages of the process: application, underwriting, waiting on a third party, needing loan approval, preparing loan documents.  For staff that work on these loans, it is a daily question:...