Prescreening for Small Business Lending

Prescreening for Small Business Lending

Prescreening for Small Business Lending

Small business lendingrequires a delicate and experienced touch to achieve success. The complexity of analyzing a small business's finances adds to the difficulty when determining whether the business should receive a loan. There are software solutions which can provide invaluable assistance to financial institutions in loan decisioning.

One way of streamlining the loan application process is through prescreening. This allows a financial institution to reach potential customers with the information that they have already been approved. However, the most common form of prescreening, batch prescreening, has been losing effectiveness as customers increasingly find it irritating. For a more modern approach, Zoot Enterprises, Inc. has developed a solution which instantly prescreens customers and potential customers. Whenever a person contacts the company, they can be instantly screened for any available credit or loan offers and the offer can be extended immediately.

Zoot Enterprises' innovations in the field of prescreening for small business lending are only a few of the improvements the company has made for the financial industry as a whole. Their credit decisioning and loan origination solutions are used widely throughout the banking industry, including at three of the five top US banks. It is widely considered one of the most highly reliable and respected companies in the industry.By seeking to create solutions to common issues related to credit decisioning and loan creation, Zoot allows banks and loan servicing companies the ability to make faster decisions and get faster approval for all kinds of credit applications. As a result, organizations can lower their risk, streamline the decision making process, and save money while delivering loan services to customers in all walks of life.

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