Preparing for the Impacts of COVID-19 in Commercial Lending Portfolios

2020 began the year with great hope and promise. I am quite certain your institution’s strategic plan and budget did not include responding to a global pandemic crisis. Over the course of a few short weeks, our entire routine in how we work, socialize and interact has been altered.
Many of you have already issued communications to your customers regarding how your institution is responding and the steps you are taking. Many of you are trying to figure out how to juggle working from home while caring children that can no longer attend closed schools or daycare.
This is a huge daily disruption and we are collectively trying to adjust and adapt. At Suntell, we too are facing this “new normal”. Fortunately, we were already in a remote working environment. and have been delivering products and services this way for many years. We are well suited to continue in this sudden pandemic without much impact on how we work and conduct business. We are ready to help you through this crisis.
As we all begin to face the impact on our daily lives, it may present new opportunities to brush up on skills or projects you have been putting on the back burner.
Want to learn more about the benefits the Square 1 Credit Suite can offer your organization’s business lending initiatives? We can show in 30 minutes or less.
The shutdown of business activity in the travel and entertainment industries is already being priced into the stock market. It will take longer for this to ripple through your commercial loan portfolio. In the coming months, commercial loans to businesses will begin to see increasing loan delinquencies, leading to increased defaults and loan losses.
Now is the time to get your credit underwriting, loan servicing and commercial loan portfolio credit risk management systems in place. Square 1 Credit Suite has all of those elements in one system. We have been around for 23 years and we know what we are doing.
At Suntell, our founder and CEO has been a commercial banker and software entrepreneur/consultant for nearly 40 years.  We have seen several economic cycles, much like the one we are about to experience in the coming year. Contact us today and let us show you how we can have you up and running on the Square 1 Credit Suite so you can tackle and mitigate your credit exposures.

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