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Lending & Credit Risk Account Opening Commercial Lending Small Business Lending

Crowdfund Insider | Abrigo Offers Commercial Loan Tool for SME Lending

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By JD Alois

Abrigo has announced a commercial loan origination tool for SME lending.

Abrigo Small Business Lending is said to leverage AI to help banks and credit unions boost their small business loan portfolios. The automated loan processing is said to provide a transparent, AI-powered loan scoring system that goes beyond traditional financial metrics.

Abrigo notes there are 33+ million small businesses in the US but only 42% are having their financing needs met.

At the same time, only half of community banks have automated their commercial loan origination systems.

Jay Blandford, CEO of Abrigo, says their solution will streamline the loan origination process by expediting decision-making and boosting the bank’s ability to service smaller firms.

“This launch underscores our unwavering commitment to helping financial institutions and their communities thrive.”

Abrigo reports over 1,000 financial institutions using their loan origination software for originating and analyzing loans today.

 

To see the full article featuring Abrigo, visit Crowdfund Insider, “Abrigo Offers Commercial Loan Tool for SME Lending.”