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1:15 - 2:30 Steven MartinMark Mitchell


Workshop B: Small Business Borrowers Deserve a Better Experience


Steven Martin
Vice President, SageWorks

Mark Mitchell
SVP, Head of Small Business Distribution Strategy, TD Bank


Session Description

So many of us are focused on complying with regs, managing credit risk, growing our books, keeping pricing optimized. Yet very few of us consider how challenging it is for business borrowers to do business with a bank. Consider:

  • Paperwork requirements (years of tax returns, personal financial statements, etc.)
  • Lack of transparency of the process, pricing, the decision
  • Requirement to deal with a person for everything
  • Long turnaround times
  • No leverage to negotiate deal terms
  • High costs to originate the loan

Despite their recent ups and downs, alternative non-bank lenders have succeeded in disrupting traditional commercial lending.  Business borrowers increasingly expect the ability to apply online and get a quick lending decision. Unfortunately, commercial and business lending operations are often the least automated areas of traditional banks. The borrowing experiences are as different as booking air travel online versus going down to see a travel agent.

It turns out there are plenty of opportunities to make borrowing an easier and more straightforward process for the business and the lender. Automation tools, user tools, information, and process improvements. The rewards will go to whomever can serve the business borrower better.

Join Steven Martin from Sageworks as he presents a framework for growth by attending to the borrowing experience. Steven will be joined by a Mark Mitchell of TD Bank, who as SVP, Head of Small Business Distribution Strategy is at the front lines of making these improvements.


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