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Cannabis lending for financial institutions: Opportunities, risks, and best practices

Abrigo

Now that the cannabis industry is maturing and better understood, is it time for financial institutions to take on the risk of cannabis lending? Cannabis-related businesses (CRBs)spanning everything from cultivation to retailrepresent a market in need of lending services, from working capital to real estate and equipment loans.

Lending 195
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CRA compliance: A data-driven strategy

Abrigo

Partnering with local organizations to promote the health of their economic communities is often a top priority for banks. In recent years, financial institutions have faced increasing regulations regarding their efforts to serve the needs of diverse communities. Must report on loan distribution and loan-to-deposit ratios.

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Breaking down SBA lending: What is E-Tran?

Abrigo

While significantly more efficient than mailing forms to the SBA, there are some shortfalls to E-Tran, and a vendor can help Loan submission platform Leveraging E-Tran for increased SBA lending The U.S. Understanding the role of E-Tran in SBA lending is the first step for banks and credit unions to ensure smooth loan processing.

Lending 379
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How to avoid costly BSA enforcement actions: Proactive steps for bank compliance

Abrigo

Although the above example is a large bank, similar enforcement actions are being handed down to community banks. Invest in employee training : BSA/AML compliance is a bank-wide responsibility. Your staff should undergo AML/CFT training annually to support your BSA efforts.

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Bank Product Management in Lending

South State Correspondent

In a previous article [ here ] we discussed why community banks need product managers to ensure that financial products and services are effectively developed, launched, and managed to meet customers’ evolving needs and the bank’s risk and profitability goals. Not all customers are the right fit for the product.

Lending 195
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The math behind small business lending: Problems & possibilities for banks & credit unions

Abrigo

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. You might also like this guide for smarter, faster small business lending. Record new business formation and a wider gap between U.S.

Lending 243
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FinTechs Help Banks Ease The PPP Lending Pain

PYMNTS

As the nation’s traditional financial institutions struggle to cope, alternative lending platforms and other B2B FinTechs are exploring how to put their own technologies to good use. Small businesses, meanwhile, can use the platform to apply online as fewer physical bank branches are available. Funding Circle. Wolters Kluwer.

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