As a growing bank, Bridgewater used manual processes to manage their SBA PPP loan process. The lending team used spreadsheets to track loans and their status, and emails to pass customer information to loan officers. While each officer had their methods for monitoring work, there was no central system or a standard process.
With the
Small Business Loan Management solution from
INRY and ServiceNow, Bridgewater has achieved a low portfolio risk. The bank now has one location for loan, credit, and administrative teams to find information about customers and loans, and the teams can check on loan progress in real-time, look up contact information, and follow up with requests for additional information.