It was nothing out of the ordinary when Marco Perez contacted a competitor, with whom he had previously collaborated, to market a loan participation. His priority was simply to take care of his customer the best way he knew how to. However, unbeknownst to him, his competitor, without a shred of courtesy reached out to his customer behind his back in an attempt to steal his business. As a participating banker, you’d think there’d be some unwritten rules, such as not poaching each other’s clients. But instead, he found himself facing a $7.5 million payoff. Ouch!
And from that experience, BANCreach was born – out of a need to protect your relationships and your business.
But how does BANCreach solve that problem?
For starters, it allows you to market loan participations beyond your market’s boundaries, erasing the fear of a competitor trying to steal your customer. You can keep growing those profitable relationships without having to always look over your shoulder. On the flip side, if you’re looking for loan participations, you can easily search the Marketplace for opportunities.
And it’s not just you who benefits. Commercial real estate brokers no longer need to spend hours sending emails and playing phone-tag with commercial lenders to gauge their interest in financing a client’s purchase. Now, they can simply submit their leads to the Marketplace. Meanwhile, commercial lenders receive instant notifications whenever a lead pops up in their market. It’s a win-win for all involved.
But there’s more.
BANCreach isn’t just about loan participations; it’s about extending your reach and the reach of your customer. We’ve all been in the frustrating scenario where a good customer wants to invest outside your region, but you can’t help them because it’s beyond your market. Sometimes you might know of a lender in that area who can help, but sometimes you don’t. That’s where BANCreach comes in. Submit the lead to the Marketplace, and any commercial lender in that specific market will get an immediate notification. At that point you’re able to collaborate with the lender prior to making the handoff.
Besides being incredibly user-friendly and available now for download on the App Store, it’s FREE! It doesn’t get any better than that.
BANCreach is the bridge that connects community banks, lenders, and commercial real estate brokers, making sure no opportunity is missed.
