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Immediate solutions for improving profitability and reducing risk Newark, DE – May 25, 2010: Bridgeforce, the leading consultancy in credit, collections, and risk management, has recently published a new position paper titled, “Feast or Famine? Smart Solutions to Accelerate Lending to Small Businesses”. The current economic downturn has adversely impacted the availability of funds for Small Businesses, with lenders shifting priorities to risk mitigation and loss reduction in place of new lending. Most have spent the last two years with renewed focus on loss reduction and as a result, 9 of the top 10 SBA lenders reduced loan volume by over 30% in 2009. The events of the last two years have created shifts in the lending landscape for small businesses, most noticeably; a reduction in credit available and tightened ‘one size fits all’ credit standards. Lenders need to quickly adapt and implement new lending strategies in order to meet their small business customer’s lending needs as well as lay the foundation for 2010+ profitability and growth goals. In response, Bridgeforce has announced the first in a series of Strategy Briefs to address the key issues impacting small business lending. “We chose to focus on how to better serve small business lending customers because as a growing small business and leading credit and risk management consultancy, we have firsthand knowledge of the challenges and needs of small business owners” says Brian Reiss, Bridgeforce Managing Director. “Our goal is to bridge the gap between our small business lending clients and their small business customers by working with lenders to implement smart lending solutions that better balance each group’s needs.” For more on this topic or on other Bridgeforce services, please visit http://www.bridgeforce.com/distribute.asp?paper=Smart_Solutions_to_Accelerate_Lending_to_Small_Businesses.pdf or e-mail . About Bridgeforce, Inc. Bridgeforce is a management consulting firm that specializes in strategy, operations, and technology consulting services for credit products. Bridgeforce operates in the credit card, retail banking, mortgage/home equity, auto lending, small business, and insurance sectors with clients that include 7 of the top 10 U.S. banks and 4 of the top 10 global banks. www.bridgeforce.com |
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