Industry intelligence helps commercial bankers succeed
You could spend hours researching for the information that IBISWorld has at your fingertips. IBISworld gives you far more than most resources do.
Paul Pickhardt,
Senior Vice President
SBA Lending Manager - Countybank
CLIENT OVERVIEW
Countybank, in Greenwood, Greenville, Greer and Anderson, SC, is a full-service, integrated financial services provider for local communities in the northern part of the state. The bank provides a range of services in the areas of commercial and personal banking, wealth management, mortgage and insurance.
When it comes to commercial lending, industry intelligence plays a huge role in keeping the loan cycle operating moothly and efficiently. Paul Pickhardt, Senior Vice President, SBA Lending Manager for Countybank, manages a group of lenders responsible for approving loans for small business owners and developers. Paul was an integral part of bringing IBISWorld industry intelligence to the bank and educating commercial lenders and credit officers as to its value in their workflow.
BEFORE IBISWORLD
What challenges do lenders face
During the SBA lending process, credit memos must be created as part of the bank’s internal documentation. Industry analysis is a required part of this document and without one source for industry intelligence, lenders must scour Google and other internet resources for the information they need. Not only is this process time-consuming, but it is also nearly impossible to find all of the insight necessary to complete credit memos using Google alone.
CHALLENGES FACED
Prospecting
Another vital part of the lending process is initially meeting with prospective clients who want to obtain loans from the bank. During this encounter, it is crucial that lenders come prepared with talking points to show clients they understand the industry in which the client operates. Lenders must follow up with clients after those first meetings to keep an open line of communication. It’s important for lenders to include unique insights in their follow-ups to clients in order for Countybank to stand out from other banks.
IBISWORLD SOLUTION
Easy access to quality information
Using IBISWorld’s industry analysis, Paul and other lenders at Countybank save themselves hours of research time searching for the information they need to complete SBA credit memos. Having all the information about an industry in one place helps them to flush out the reasoning behind why lending into that industry is worthwhile for the bank. Additionally, County bank find it valuable to revie IBISWorld’s iExpert questions to prepare talking points related to industry trends to add credibility to their conversation with clients.
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