Independent Banker - July 2018 - 21
Next: The evolution of ATM fraud
products, both on the sales side and
on the underwriting side. It makes all
the diff erence. "
Think like an entrepreneur
Steve Williams, founder and partner
of Cornerstone Advisors in Scottsdale,
Ariz., says that bankers considering
niche lending need to recognize that
such programs typically are more
" entrepreneurial. " As such, the entrepreneurial
expert leading the niche
business for the bank should be subject
to due diligence because they are
the linchpin of the strategy. Bankers
should determine the expert's knowledge
on acquiring the niche assets,
and whether the person understands
the risks, the specifi c characteristics of
the underlying collateral, and how to
best manage the bank's returns for the
business line, Williams says.
" Since these folks are entrepreneurial
partners, banks-with FDIC
deposit insurance and state regulators-can't
take a laissez-faire
approach, " he says. " You don't want
to kill the entrepreneur's business
with the bank's bureaucracy, but you
also don't want the entrepreneur running
wild. You need to fi nd the right
balance, and using the risk-adjusted
return on capital approach is the right
way to do it. "
Such an approach includes having
an independent credit administration
on the credit. " It's a trust-but-verify
kind of world with niche lending, "
Williams says.
Banks must also off er incentives to
keep the entrepreneur as a client.
" You don't want them to make a
bunch of loans and then leave because
they think you're too bureaucratic,
only to have your loans blow up while
they pursue a new partnership with
the bank next door, " he says.
Katie Kuehner-Hebert is a writer
in California.
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Independent Banker - July 2018
Table of Contents for the Digital Edition of Independent Banker - July 2018
Table of Contents
Independent Banker - July 2018 - Intro
Independent Banker - July 2018 - Cover1
Independent Banker - July 2018 - Cover2
Independent Banker - July 2018 - Table of Contents
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Independent Banker - July 2018 - Cover3
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