HOW WE HELP LOAN OFFICERS
THINGS WE HAVE HEARD FROM COMMERCIAL LOAN OFFICERS:
These are paraphrases of lengthy conversations but they are each directly from specific conversations we have had with loan officers
I value every client, but my production goals require that I book large deals: It takes about the same amount of time to do a $50K loan or a $500K. The more small deals I do the less time I have for large deals; which reduces my chances of getting a bonus, and the more scrutiny I get about being productive with my time.
Use Pebble Plan to make sure your small deals are ready to go so you don't spend more time than necessary:
Small business applicants that go through Pebble Plan have their assumptions and expectations challenged while the are creating their plan so they have the opportunity to figure out if they are really ready for lending before you have to spend any time on them. We scrutinize their operations and their financials and help set correct expectations for the lending process before they finish their business plan, so when they come in for a meeting they know what they are doing and are ready to go forward. Just send us your small deals and tell them to send you a copy of their finished plan when they are done.
GET BETTER PLANS & GET YOUR TIME BACK
All you have to do is send your applicants & clients to this website and tell them click 'Start Your Plan'. They pay for their own plan, they get better prepared to succeed, and you get your time back.
To see the software in action book a time for a live demo or view a recorded demo now.
HOW WE HELP THE INSTITUTION AS A WHOLE
THINGS WE HAVE HEARD FROM BANK LEADERSHIP:
These are paraphrases of lengthy conversations but they are each directly from specific conversations we have had with bank leaders
When it comes to CRA we just keep doing what works, until it doesn't, then we find a new thing that works: We split our investments and hours between CDFIs, youth financial education, non-profit board service. Of course we agree with the goals of CRA but it feel like the cost of doing business in todays regulatory environment. We could probably make more impact other ways, but it might not get us credit, so we don't; we just stick with what works.
Pebble Plan gives banks three separate ways to get CRA credit and have a chance to get an LMI loan :
1. Our business modeling, business planning, and recovery planning processes are inherently educational and are well know to be lacking in LMI communities. If banks purchase access to Pebble Plan for their LMI clients or their families, they are providing entrepreneurial education via our built in curriculum. 2. Banks can purchase access to Pebble Plan for community non-profits and let them provide entrepreneurial education to their clients. 3. Loan officers can use the collaborative technology built into our app to mentor and coach LMI entrepreneurs in person or online without leaving the office. 4. If the bank uses Pebble Plan for it's LMI applicants the likelihood of getting a better prepared borrower goes up dramatically; and the bank may get a loan from it's existing LMI depositors.
