Faster Business Loans

Sponsored by D+H.

For $860 million/74,000-member Seven Seventeen Credit Union, Warren, Ohio, providing superior service and products to its members is the top priority. And when it comes to serving small business owners, superior service means speed. But finding ways to expedite upon the commercial loan process is not easy.

Since LaserPro® from D+H became part of its equation, Seven Seventeen CU has delivered loan closings more quickly and has gained a competitive edge by having the resources to provide members with the products they need.

“Service is our number one priority,” explains Brett Carnahan, VP/commercial lending officer for Seven Seventeen CU. “We use the tools and processes necessary, along with a strong desire to offer superior service to our members. LaserPro has been a big part of that equation for over 12 years.”

Compliant Documents Speed Document Preparation

“We have dramatically improved our closing turnaround for member business loans, eliminating up to six days from the process,” says Carnahan. “With compliant documents that are recognized throughout the financial industry, we are no longer subject to an attorney’s competing priorities at closing time for the vast majority of loans we engage. We have reduced document preparation from a five- to seven-day process to an average of one day.”

“Another time saver,” continues Carnahan, “is that once a member business or individual is in the LaserPro database, their core information can be recalled for future transactions.” Carnahan also cited the ability to run HMDA reports as a significant efficiency gain.

Flexibility Is Key

Seven Seventeen CU has the flexibility to offer a wide range of loan types – from unsecured loans and credit lines to term loans and commercial mortgages.

“We can easily provide our members with the products they need because of the functionality LaserPro supplies, providing us further resources to get the business,” says Carnahan. “With a document library that includes documents for every state, LaserPro also makes it straightforward for us to do business lending throughout our Ohio market and into Pennsylvania.”

Support for Continued Growth

“Seven Seventeen CU has experienced consistent growth in its commercial portfolio since the department was formed in 2001,” says Carnahan. “We appreciate that LaserPro is expandable, offering additional modules to support our future needs. We benefit from periodic onsite workshop and online training opportunities, from initial setup to training on new modules. I have also enjoyed peer networking and gained valuable insights by attending LaserPro user group meetings. Coupled with the outstanding service provided by the D+H support team, we feel confident 14 years later that we made the right choice in selecting D+H.”