New small business lending solutions drive loan growth
Published by: Laura Auxter
September 4, 2024 | Uncategorized
Credit unions face unique challenges when launching or growing a commercial lending line. To be successful, it’s important to have the right solutions. In fact, a trends watch report issued by the National Credit Union Administration listed digital lending platforms as “essential offerings to meet members’ evolving expectations. Digital transformation is not just about adopting new technologies but about leveraging them to create a seamless and convenient experience for members while maintaining the trust and community connection credit unions are known for.”
Two innovative solutions from Cooperative Business Services (CBS), could help grow your commercial lending portfolio.
Creditable is a web-based commercial lending software platform that streamlines every small business lending step. Unlike off-the-shelf products, Creditable is white-labeled and can be customized and branded with your credit union logo.
Its robust, end-to-end loan management features allow loan officers to review, request, and approve documents in a few clicks. With Creditable, member information is stored securely in the cloud, and your team can access your loan portfolio everywhere.
Convenient dashboard reporting tells you where lenders are in the process, helping you manage your loan pipeline faster. In addition, Creditable includes built-in loan decision intelligence that credit unions can tailor to their own risk tolerances and custom factors.
ExRA is a powerful one-stop portfolio analytics and reporting platform that provides valuable metrics for deeper insights into your consumer and commercial lending portfolios. This cloud-based solution offers user-friendly dashboards that track loan performance, borrower concentrations, and CECL reserve recommendations, helping you analyze risks and make more strategic decisions about your loan business.
Combine Creditable and ExRA in your commercial lending toolkit and watch your small business lending take off. To schedule a demo or learn more, contact Laura Auxter at Navatros.
Navatros, formerly OCUL Services Company, provides credit unions and finance organizations with personalized business solutions. Through trusted service and advice, Navatros helps businesses solve challenges and achieve goals.
Contact Laura Auxter for questions or assistance.
