Over the past few years, the economic debate has been whether the US economy would enter a recession in the near future. At the time, it appeared that the economy was moving along, albeit more slowly in some industry sectors. Most economists predicted slower GDP growth in 2020 than the previous 2 – 3 years. Then, the pandemic hit, and the economy came grinding to a halt. That brought challenges for commercial lenders who had hopes of growing their loan portfolios.
But, now the world and the economy are slowly rebounding. Lenders can begin to consider loan portfolio strategies that can be deployed to nurture growth in any economic cycle. Here are five strategies to increase your personal loan portfolio even as the economy is recovering from a pandemic.
While 2020 may not have been what any of us expected, these strategies to increase your loan portfolio mentioned above can help you enhance both personal loan portfolio growth and client retention. They can help you leverage your greatest strength as a community-centered financial institution - your own team of professionals.
Who We Serve
What We Offer