If you are looking for a new product to offer to generate fees, deposits and new customers, you should be the bank in your area that carries the SmartBiz SBA application. SmartBiz is a complete SBA loan web application that banks can co-brand or private label to allow small business customers the ability to apply for, and close, SBA 7(a) loans under the Small Loan Advantage Program. Qualification can occur in as little as five minutes and funding can occur in as little as seven days.
Tag: Credit Scoring
This week’s SBA announcement that the Agency will make available borrower’s credit score that takes into account both personal and business attributes has sent shock waves through the industry. The funny part is that these shock waves were not the ones intended. The intention was to let the Nation know that Maria Contreras-Sweet, the new head of the SBA, is ready to help minority lending and that will further stimulate the economy.