Better experiences start at commercial loan origination

Financial documents are at the core of commercial loan origination, and one of the biggest frustrations can stem from an unorganized and often endless stream of lender requests for borrowers. Emails and paper submissions can be insecure and difficult for a lender to track when multiple loan deals are in progress.

Instead, an intuitively designed, web-based portal can support a more organized, secure, and clearly communicated process for even the less-than-tech-savvy user. This transfer of information can also meet customers where they are, with web-based portals that require little more than an access code to begin.

Not only is a borrower’s sensitive data safe from outsiders through a portal, but they won’t have to jeopardize their privacy when working with business partners and co-owners. Lenders can grant access to the portal on an individual level so others won’t have full transparency into their finances.

Transparent requirements set the stage for cooperation

Each loan is different from the last, but that doesn’t have to throw the whole process for a loop. Clear, consistent expectations at the start help borrowers understand what they need to submit and how they can add extra supporting information for documents they’ve submitted.

Borrowers can be confident that:

• They’re sending along the right documents within the required timeline
• Unusual or one-time exceptions can be delivered with clarifications
• They won’t have to resubmit documents the bank has already seen

A clearly communicated, streamlined process goes a long way toward improving the customer experience. But one of the biggest benefits is showing borrowers that their lender hears their concerns and is taking steps to address them.

A willingness to invest in the experience on their end can help customers:

• Have a better understanding of their loan approval stage and status
• Get their loan decision sooner
• Do more with the products and services offered by a lender

A better internal process can improve the external experience

A commercial lending process that enables internal communication also adds to the customer experience.

When a lending team can easily share borrower information and documentation, the customer can have better, clearer communication. The message from the lender can be unified, without missing context around previous discussions, steps in this loan process, or other loan applications.

Crowe can help you improve your customer’s experience

Don’t leave your borrowers fighting against steps in the process. Turn each stage of commercial loan origination into an opportunity to make customers more comfortable, more informed, and have a greater experience.

Crowe understands the crossroads of customer needs and lender requirements, and we can help you make it better for everyone involved.