Originally recorded July 16, 2020.
At the same time, CDFIs need to channel their resources where they are going to have the greatest impact, which has perhaps never been more challenging. Even as we move past the COVID-19 lockdowns, it seems certain that traditional lending practices will not suffice. How applications are received, what information about businesses and owners are collected, and how credit decisions are made all need to be rethought.
This webinar will cover some of the things CDFIs and other innovative small business lenders are doing to prepare for the post-COVID world:
– Incorporating new credit data and streamlining requirements to better allocate capital where it will do the most good
– Adjusting credit policies as well as loan structures and repayment processes
– Moving to fully digital loan origination and servicing systems, and adjusting lending operations accordingly
Bonnie Crockett, Director, Baltimore Business Lending
Noah Smith, Head of Business Development, LendingFront
Adam Figueira, Head of Marketing, LendingFront