The High Cost of Originating a Small Business Loan
The average cost to originate a business loan is estimated to be $5,000, no matter the amount of the loan. As a result, smaller loans tend to be less profitable than larger loans. To lower costs and improve the borrower’s experience, some lenders are changing their process and deploying automation. Join Sageworks Vice Presidents Peter Brown and Steven Martin to learn what these banks are doing to improve profitability.
Join the webinar to discuss ways to improve:
- Customer experience
- Data transfer to the back office
This complimentary webinar is the second in a comprehensive webinar series for enterprise financial institutions. The Optimizing Small Business Lending series will break down the specifics of successful small and midsize business lending for enterprise institutions.
The first webinar, Building a Better Small Business Borrower Experience, is on-demand now.