Independent Banker - November 2022 - 71

Empower your local businesses to better serve your neighborhoods
Innovative
Insights
CHALLENGE: There are plenty of financing options for consumers purchasing homes, vehicles, or small items, but consumers today
have very few options to finance higher ticket purchases like a new roof, pool, or new HVAC system, and it's cost prohibitive for
community banks to step in and solve this challenge.
SOLUTION: Teslar Software is empowering banks to solve this issue by offering a low volume but highly cost-efficient modern web
solution that banks can provide to their small business customers so they can offer financing to their consumers.
Joe Ehrhardt, CEO and Founder
Why Teslar Indirect Lending?
Teslar's technology makes it easy and cost efficient for
community institutions to offer indirect lending by simplifying,
digitizing, and automating the process. The solution allows
end customers to apply for
a loan with minimal friction
and allows bankers to deliver
automated decisions within
seconds, or underwritten
decisions in minutes.
Most community banks
would like to finance
the customers of their
borrowers, but the cost and
resources needed to offer
indirect lending make the
idea of entering that field
prohibitive. Instead, the
business falls to large banks or FinTechs to offer financing, and
funds do not stay local.
Teslar Indirect Lending empowers community institutions to
enter these markets and drive new business opportunities,
while making the financing process easier on both their small
business customers and that business' consumers..
By partnering with local businesses to offer financing options
to customers for purchases such as HVAC, farm equipment,
home remodel, pools, jewelry, and more, banks can extend
their presence further into the community and drive more loans
back to the institution with minimal work on the front end.
The process is highly efficient: a single employee at the bank
could handle multiple loans at once, it's easier and quicker for
the applicant and business to secure financing, and financial
institutions can drive new business, reaching new prospects
and areas of business.
Key Benefits
* Banks are able to expand lending opportunities while the
consumer benefits by having the convenience and ease
of working directly with the retailer or dealer for financing.
Quick and reliable financing for consumers.
* Banks are able to work with their business customers to
provide financing for mutual customers.
* Teslar provides a streamlined loan platform for Indirect
Lending that is customizable with the bank's risk
management practices. This enables a bank to grow their
customer base while providing integrated processes for
this line of business.
Driving Value for All Parties
Your Bank: The community bank benefits from this relationship
because they are gaining new customers on the lending side
that could lead to a more in-depth relationship in the future.
Your Small Business Customers: The local business benefits
by gaining the ability to quickly and conveniently offer financing
and provide quick answers to customers.
Your Community: The end customer benefits by gaining an
easy, convenient way to access financing through a trusted,
local institution and keeping everything in the community!
Joe Ehrhardt, CEO and Founder
sales@teslarsoftware.com // 479-347-4040
teslarsoftware.com
http://www.teslarsoftware.com
Independent Banker - November 2022

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