Ideas, insights, and trends for commercial finance executives.
Geopolitical movements, technology advancements and sociological changes are all deeply affecting the direction commercial lending is moving in. As commercial lending is directly impacted by
Consumer lending has always been regulated by consumer protection laws, but commercial lending has typically had less compliance requirements, especially for independent lenders. This is
During periods of instability and economic downturns, lenders face unique challenges in maintaining profitability and managing risk. In precisely these times, it becomes crucial for lenders to have the right tools to capture clients more quickly, reduce risk, and put them above competitors to navigate challenging conditions. Here are some of the ways lenders can weather the storm and can use technology as a significant advantage during periods of economic instability.
As banks and larger lenders tighten credit in an uncertain lending environment, the demand for business lending continues to increase. Alternative lenders are finding themselves uniquely positioned to capitalize on this trend and capture more small businesses looking for financing. Non-traditional lending models, empowered by technology, are becoming a necessity due to their convenience, speed, and flexibility.
Recent instability in the market, rising inflation, and supply chain issues are creating an uncertain climate for commercial lenders and small business owners. Things may look ominous but there are key strategies to survive and even thrive during these changing times. There are great opportunities for commercial lenders when the market hits a downturn. Lenders have much to gain during tough times by diversifying their lending portfolio and leveraging technology. Adopting a cloud based loan underwriting system to cut down on costs, and investing in a loan origination system and borrower portal to capture more clients are key to adapting to leaner times.
Key economic indicators predict unprecedented growth for the rest of 2021 and beyond. To add to this, an increase in small business lending demands, the rise in entrepreneurship and small businesses coupled with an increases in demand for digitalization look to create an unique climate for commercial lenders. Find out the key trends set to impact commercial lenders and how to best prepare for them and take advantage of the changing landscape.
Credit scoring may be change as a result of the Coronavirus pandemic. Business loan underwriters should take special note of the changes possibly happening in credit scoring. Listen to the podcast, hear the latest concerns and ideas for ways credit scoring and reporting may be impacted.
Technology with sophisticated automation and workflow tools are allowing lenders to efficiently continue funding business owners through this critical time and allowing team members to work seamlessly from anywhere and be on the same page. Business owners can access their portal anytime for easy and efficient funding requests.
Experts agree on the Top 5 Trends for Commercial Lenders in 2019. Changes in the lending model, in technology, remote work, and open banking are set to impact lenders in 2019. Decipher sourced information from Forbes, The Financial Times, Business News Daily, PwC and experts in lending to bring you the latest trends that will impact lenders.
