Independent Banker - May 2021 - 30

PORTFOLIO
◎FOCUS LENDING
Tapping data to
grow SBA loans
Small Business Administration (SBA) lending has seen major changes
in the past year. Amid these trends, some community banks are
harnessing internal and external data sources to find potential SBA
loan customers. By Beth Mattson-Teig
n an industry that relies heavily
on relationships, community
bankers are also learning to
embrace data analytics to build on
their Small Business Administration
(SBA) lending activity.
I
In Osage Beach, Mo., $200 millionasset
First Bank of the Lake
generated $132.7 million in SBA 7(a),
504 and Express loans in its 2020
financial year. Annemarie E. Murphy,
the community bank's executive
vice president and president of SBA
lending, says they've recently invested
in sales and marketing technology
to provide a more efficient loan
experience to customers.
To that end, the community
bank uses Wilmington, N.C.-based
nCino's cloud-based bank operating
system as the bank's workflow
process and customer relationship
management (CRM) tool. The sales
team uses the CRM component
for customer outreach and direct
marketing to both existing and
potential new customers. The
community bank takes a targeted
approach, using data it gathers to
target specific industries such as
doctors, dentists and veterinarians,
as well as franchisees.
Annemarie E. Murphy says
First Bank of the Lake is
investing in technology to
boost its SBA lending.
Since the pandemic began, First
Bank of the Lake's sales team has
had to think differently about
how to market to potential SBA
customers. It's no longer as simple
as meeting someone for a cup of
coffee, Murphy says. " For some of
our salespeople who used to do a lot
of their sourcing at trade shows, "
Murphy says, " [the pandemic has]
really changed how they have had
to do things. "
Today, the sales team relies more
on CRM marketing to get in front
of people with email and digital
marketing. The SBA team uses
the system to track existing and
potential customers, as well as to
28 Q ICBA Independent Banker Q May 2021
Photo: Ian Curcio

Independent Banker - May 2021

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