The Rundown

• The software smoothes out what was fragmented loan processing system.
• The system is especially helpful on SBA loans.
• Northwest FCU said process efficiencies have improved by as much as 20%.

Time is money, and entrepreneurs never seem to have enough of both.

This is particularly true for small business owners who can spend hours filling out a tsunami of documents to apply for government-backed loans. And when the exhaustive paperwork finally plods through an esoteric loan processing system, all small business owners can do is anxiously wait…and wait… as time, and perhaps opportunity, pass them by.

Credit union executives know this is not the ideal member service scenario, yet they may be hamstrung by loan processing systems that haven't kept up with the accelerated pace of today's business markets. Now more than ever, entrepreneurs under fierce competitive pressures need better and faster service from their financial services partners. For credit unions, better and faster service is a key differentiation point that can retain and acquire new members.