Categories for Uncategorized

January 5, 2022

Allies for Community Business Partners with Lendsmart to Investigate to Increase Its Lending

The non-profit lender is evaluating integrating with Lendsmart’s Loan Management System, which would expedite small business loans for traditionally underserved businesses. NEW YORK, Dec 22, 2021— Lendsmart, an AI-driven digital lending platform, today announced its potential partnership with Allies for Community Business (A4CB), a Chicago, IL based non-profit that provides the capital, coaching, and collaboration…

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January 5, 2022

Legence Bank Selects Lendsmart to Streamline its Digital Lending Operations

Community bank partners with Lendsmart to expedite lending operations and enhance the customer experience. NEW YORK, Dec 22, 2021— Legence Bank, a progressive IL-based community bank, has chosen Lendsmart, an AI-driven digital lending platform to streamline its digital lending operations and better serve its customers. For personal loans, Legence Bank offers customized financing, secured and…

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New Opportunities for Lenders by Gig Economy December 21, 2021

The Gig Economy Presents New Opportunities for Lenders

Banks, credit unions, and other financial institutions used to cringe when they heard the terms “freelancer” or “independent contractor.” After all, those people without steady paychecks could present a huge risk. But that perception is changing. The reality is that full-time freelancers now generate an average income of $68K annually, which is higher than the median U.S.…

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December 2, 2021

Lendsmart’s Loan Management System to Expedite Small Business Loan Approvals

Fintech lender partners with Lendsmart to streamline small business lending and enhance the customer experience. NEW YORK, Nov 16, 2021— Lendsmart, an AI-driven digital lending platform, today announced its partnership with Breakout Capital, a leading small business lender that provides simple, straightforward working capital solutions to small businesses.  Breakout Capital has integrated with Lendsmart’s Loan…

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November 30, 2021

4 Common Lending Pitfalls and How to Avoid Them

Every lender has been there.  You either approved a “bad” loan or failed to give a loan to a customer who turned out to be a great prospect for future business. Although the number of nonperforming loans is relatively low these days at 1.6%, lending pitfalls are not just related to non-payment or late payments.…

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October 28, 2021

Why 2021 is a Key Indicator of Your Lending Organization’s Health

2021 has been a year like no other in terms of the housing market and consumer behavior. Fueled by low mortgage interest rates, PPP loans, the rise of tech-powered real estate buying/lending, and the work-from-anywhere trend, consumers are making significant decisions about where to move, who to borrow from, and what to do with new…

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October 5, 2021

Sutton Bank Selects Lendsmart to Streamline its Digital Lending Operations

NEW YORK, Oct 5, 2021— Sutton Bank, a progressive Ohio based independent, community bank, has chosen Lendsmart, an AI-driven digital lending platform to streamline its digital lending operations and better serve its customers.  Working with Lendsmart will enable Sutton Bank to offer a significantly better experience to its customers and homebuyers by bringing all parties…

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September 21, 2021

How Small Lenders Can Compete With the Big Institutions

Smaller lenders have a huge advantage over larger financial institutions. Although they may not have as much to spend on marketing, they benefit from a level of personalization and client intimacy and care that a larger financial services company may not be able to deliver. A recent article in FICO by Matt Stanley asserted that:…

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Home and Real Estate August 19, 2021

The New Borrowers: Who They Are and How to Serve Them

As we know, the housing market has been booming this year, due to lower mortgage rates and the “live and work from anywhere” trend, created by the pandemic. Millennials are making up a significant percentage of new homebuyers — 38 percent, up from 32 percent in 2015. But younger people are not the only consumers…

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July 12, 2021

Lendsmart with Freddie Mac Loan Product Advisor to Expedite Underwriting Process

New Integration Significantly Reduces Loan Origination Processing Time for Lenders and Borrowers NEW YORK, July 13, 2021— Lendsmart, an AI-driven digital lending platform, today announced they have integrated with Freddie Mac Loan Product Advisor® (LPA℠), the company’s automated underwriting system (AUS). Freddie Mac and Lendsmart are working together to better serve and exceed customer expectations…

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