In today’s competitive C&I lending market, banks are looking for ways to offer services more quickly and cheaply as well as improve their profit margins. By using automation tools, banks can improve business process efficiencies and offer more loans and better customer service to small businesses in need of capital. Financial institutions are increasingly turning to customer-facing software programs to automate the lending process. If a small business owner has ever used popular apps like Xpense Tracker or Evernote, the same intuitive interfaces are now available specifically for commercial accounts.
See BBC Easy Co-founder, Corey Ross, speak with Lauren Simonetti of Fox Business News about ways to improve your odds of getting a loan and how banks can improve on providing loans. View the video here: http://vimeo.com/59109323
Inc. Magazine talks with James Walter and Corey Ross about the ways to help businesses get a loan.
Commercial and industrial lending is increasing for larger companies, but according to the Thompson Reuters/Pay Net Small-Business Lending Index, the number of traditional bank loans to small businesses has fluctuated wildly over the past year.
And, let's face it, small-business owners remain uncertain about what 2013 holds for their business and the economy. In fact, in its latest report the National Federation of Independent Business confirms that small-business optimism remains relatively low.