Engage indirect borrowers in 4 simple steps

first_imgMost financial institutions see the enormous benefits that indirect lending can provide. With little impact on your front line staff, and utilizing much of the back end processes that facilitate your direct lending program, indirect lending can increase your auto loan portfolio significantly and introduce your financial institution to a new crop of borrower. However, turning that indirect borrower’s loan into a full relationship can prove challenging.How do you make sure indirect borrowers don’t view their loans with you as a “one and done” transaction? Here are four steps you can take to capture additional business from your indirect lending borrowers and make them think of your financial institution first when they need additional banking and loan products.1. Create a good first impressionPurchasing or refinancing a vehicle can be an arduous process. Borrowers are inundated with numbers and terms they may not fully understand, and usually walk away with paperwork that gets shoved in a drawer and only looked at when it’s time to refinance the vehicle or pay it off. Many times, indirect borrowers may not have a clear understanding of who their new lender is after all is said and done, so make sure your financial institution creates a welcoming start to your new relationship. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Chelsea’s John Mikel Obi admits Europa League apathy

first_imgChelsea’s John Mikel Obi says he is desperate to qualify for the Champions League this season because he struggles to get motivated for the Europa League.The Blues have reached the last eight of the Europa League after exiting the Champions League earlier this season.“What do they say [about the Europa League]? Thursday nights, Channel 5?” said 25-year-old Mikel.“Hopefully, next season we are not going to be in it and we are going to be prime time.”Chelsea are currently third in the Premier League as they bid to secure a top four spot and Champions League qualification for next season.But manager Rafael Benitez’s side can also win two trophies this term – they are leading Russian side Rubin Kazan 3-1 after the first leg of their Europa League quarter-final, and they will face Manchester City in the semi-final of the FA Cup at Wembley on Sunday.“Champions League football is what this club has always been involved in and that is what we as players want to achieve,” said Mikel.“We want to be in the top four, top three, whatever. We want to be in the Champions League next season. “No disrespect to the Europa League … but when you get that buzz, and you hear the Champions League song, it’s different.“And we have been used to it, to those nights, those special nights, and we want to get them back, we want to be involved again in the Champions League next season.“I don’t even know the Europa League song. I have been here seven years and I have never played football on Thursday nights.”The Nigerian international added: “It has been kind of frustrating to watch [Champions League matches] – and we have to then play on Thursday night.”last_img read more