As a community bank, our main focus is you the customer. One of the best ways we show this is through fun, new products like the FirstPrize $avings account or products that simply make banking easier. A newer product that is helping our business customers is the BusinessFirst Express Loan™. The BusinessFirst Express Loan began as a concept developed by First County Bank employees – we wanted to create a way to help businesses who had a need for quick access to funds. This loan provides streamlined financing options up to $100,000, boasts decisions in as soon as 48 business hours with access to funds in as soon as 7 business days2. One of the most difficult parts of creating this product was making sure that we did not disappoint – so far our customers have been anything but disappointed.
Early success happened when a business customer came to us after his primary bank had rejected his loan application. The customer had recently opened a second location for his business and was in need of funds for cash flow. We were able to turnaround a loan in just 10 days! The customer was not only pleased with our turnaround time but with our convenient, online application process as well. Providing a quick turnaround time and easy application process is just one of many ways we design products to specifically meet customer needs and make banking easier.
Many of these product ideas come from your responses to our survey. We encourage all of you who have not yet taken our survey to do so, by clicking the link below. Your feedback may be inspiration for our next new product.
1Source: Commercial Record/Warren Group, Mortgage MarketShare Module Report, March 2015. Rankings are listed by number of loans. Ranked 5th for number of purchase loans.
2Applicants subject to credit approval