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Banks should know these 5 Traits of Millennial business owners

Abrigo

Everywhere you look, it seems, there are articles about Millennials: Millennial workers, Millennial customers, Millennial homeowners, Millennial voters. And banks and credit unions looking to grow business loan portfolios , especially, can benefit from insights into Millennial entrepreneurs.

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How long does it take to close a commercial loan?

Abrigo

For example, according to a recent poll during the Sageworks Risk Management Summit, 39 percent of bankers say it typically takes their financial institutions from three to six weeks to close a new commercial loan, and another 36 percent said it takes more than six weeks. Read more about traits of millennial business owners here.

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How CFIs Can Remain Relationship-Focused in a Digital World

Abrigo

Banking technology and digital offerings have long been associated with the preferences of Millennials and Gen Z, but the coronavirus has quickly reshaped banking behaviors. Capitalizing on PPP innovations for a better experience. Lending & Credit Risk. Credit Risk Management. Lending & Credit Risk.

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How CFIs Can Remain Relationship-Focused in a Digital World

Abrigo

Banking technology and digital offerings have long been associated with the preferences of Millennials and Gen Z, but the coronavirus has quickly reshaped banking behaviors. Capitalizing on PPP innovations for a better experience. Lending & Credit Risk. Credit Risk Management. Lending & Credit Risk.

Lending 195
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Community Banks, Where Moving Beyond Interest Income Is In The (Credit) Cards

PYMNTS

The community banking model is based on customer relationships and the allocation of capital and extending loans. But the financial world is changing, Moorer told PYMNTS, due to generational shifts and consumers’ needs transitioning from baby boomers to the millennial.

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10 Top Banking Podcasts You Should be Listening to

Abrigo

Thankfully for bank and credit union executives, lenders, risk managers, and Bank Secrecy Act (BSA) Officers, banking podcasts and podcasts for credit unions are plentiful, and options are growing. Listen to the podcast episode, " How To Sleep Easier at Night About Capital and Risk Levels.". Lending & Credit Risk.

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Don't Bank. SoFi

Jeff For Banks

After its most recent capital raise in September, SoFi, a marketplace lender that focuses on millennials, has raised nearly $1.5 billion in equity capital since its founding in 2011. billion in equity capital, with a market capitalization close to book value. By comparison, over 100 year old and $7.7 We don't know.